Fidelity bank banner UBA banner
Economist urges Buhari to overhaul economic model

By News Express on 24/06/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,442


An economist and South-South Zonal Coordinator, Institute of Chartered Economists of Nigeria (ICEN Mr Friday Udoh, has advised President Muhammadu Buhari to adopt new economic models to revamp the ailing economy.

Udoh gave the advice in an interview in Yenagoa on Tuesday.

He urged the president to jettison the unfavourable economic policies adopted by previous administrations that were unable to grow the economy in real terms.

He recommended the Regulated Asset Based (RAB) financial model, which has been effective in managing    economic dysfunctions.

According to Udoh, the RAB model is multidimensional economic, social and innovative means in managing the downturn and insurgency facing the country.

He cautioned that over reliance on military might alone, will rather aggravate and escalate insurgency in the country as the problems required a multi sectoral approach to achieve desired results.

“It is necessary at this point in time and following loss of opportunities, in adopting this trade model   to grow our domestic economy by the previous administrations.

“RAB was left out in awarding large sum contracts to foreign companies and some Nigerian registered companies without recourse to this internationally and widely acceptable and legally available trade instrument,” Udoh said.

He stressed that the RAB model will harness local and regional consumption of pharmaceutical products, Urea, methanol among other bye products of gas in high demand rather than sell gas at unfavourable price

He also urged the present administration to build four petrochemical plants to refine petrochemical raw materials and manufacture petrochemical products to stem capital flight and create jobs and grow the economy.

“We need to add value to the hydrocarbon resources and in doing that creating new jobs.

“We should also be considering investment in National carrier and jettison Public Private Partnership much touted by the previous government.

“There are inadequacies in the existing law required to drive a sustainable PPP system in an economy of this magnitude,” Udoh said

•Photo shows President Buhari.

Source News Express

Posted 24/06/2015 05:52:57 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Scores of Boko Haram insurgents captured in Cameroon...

Carroll hat-trick shatters Arsenal’s title hopes (West Ham...

7 SANs, 40 other lawyers appear for Alex...

Saraki attacks bad Muslims

Court revives 783 corruption charges against Zuma

Impeachment: We are very loyal; Fayose will complete...

Ribadu picks PDP governorship form, applies for waiver...

Senate threatens MDAs that fail to patronise Made-in-Nigeria...

Court orders Medical Director’s arrest over N1.2m bribe...

200 cultists surrender arms, ammunition in Lagos

5 factors fuelling the rise of e-Commerce in...

Kaduna Governor bans okada, offenders face 3 months...

 

Latest News Unidentified gunmen kill Gov. Bello’s aide in Okene Crisis trails INEC listing of Imo SDP guber Nigeria may become desert, NCF warns Kwara health workers begin 3-day warning strike Okowa receives Super Eagles at Asaba International Airport •NFF President lauds FIFA approval of Stephen Keshi Stadium for int’l matches Ooni fast-tracks revival of Yoruba culture U.S. to make final statement on Khashoggi’s death, says State Dept. Ronaldo still part of Portugal team — Coach NECO: Winning the war against exam malpractice, By Abdulrazaq Magaji ROLAC, SCRAP-C: Spreading message of FOI Act, By Walter Duru Boko Haram set to deploy drones — US Intelligence Shocking things Saraki told supporters on exit from APC

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (421,893 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,386 views) Shameless Genevieve Nnaji exposes breasts in public (323,368 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,854 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,431 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,619 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,294 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,856 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,105 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,705 views) Lagos plane crash: Journalist releases victims’ names (165,266 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,135 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (74) Business & Economy (3,797) Business Verdict (54) Columnists (964) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (567) Features (669) Global Business Monitor (310) International (2,694) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (38) News (40,636) Opinion (1,144) Pidgin (13) Politics (7,773) Religion (901) Sports (1,780) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera