Connect with us

Economy

GDP: Expert urges  FG to prioritise mechanised agriculture, electricity to boost growth    

Published

on

An Economic Expert, Dr Uju Ogubunka, has  urged the Federal Government to give more priority to mechanised agriculture and critical infrastructure to accelerate the growth of the nation’s GDP.

Ogubunka, who is a former Executive Secretary of the  Chartered Institute of Bankers of Nigeria (CIBN),gave the advice  in an interview with News Agency of Nigeria in Lagos on Tuesday.

According to him, the Federal Government  must give extra attention to mechanised agriculture if the GDP is to be boosted within the  next quarter.

“ The agric sector has the capacity to improve  the country’s food output, regardless of the health pandemic.

“This is as agriculture is one of  the most reliable means of  generating employment and empowering youths in the hinterland,” he said.

He, however, said that the federal government should sustain its investment in key infrastructure in order  to stimulate growth in the economy.

“ The various electricity projects should be completed at the nick of time so as to accelerate industrialisation of the country.

“All  the railway reconstruction should be intensified to support the non oil sector, “ he said.

Ogbunka  said that  the tiers of government should put in more effort in tackling the security challenges limiting the inflow of Foreign Direct Investment (FDI) into the country.

NAN reports that Nigeria’s Gross Domestic Product (GDP) in 2020, grew by 1.87 per cent (year-on-year) in real terms, representing a drop of 0.23 per cent  points.

This is as compared to Q1 2019 and 0.68 per cent  points decline compared to Q4 2019.


Edited By: Vivian Ihechu and Abdullahi Yusuf (NAN)

Vivian Ihechu: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

Anambra activates Coronavirus test laboratory, warns againt panic in cases spike School Resumption: C’ River is equal to the task, says official Manchester City appeal victory not good for football, Klopp says Six Harvey Weinstein accusers call $18.9 million New York settlement a ‘cruel hoax Osinbajo rallies Africa to curb secret ownership of corporate businesses Strike: Striking doctors call for robust engagement with LASG CAS decision on Manchester City a disgrace, Mourinho says  Collapsed bridge paralyses socio-economic activities in Kogi community 2020 Edo Trade Fair will mitigate effects of Covid 19 on the economy- BENCCIMA Reps to investigate mass resignation in Nigerian Army Firemen rescue 2 from collapsed building in Kano TradeDepot secures additional $10m to transform informal supply chain in Nigeria Coronavirus: Nigerian Breweries donates palliatives to journalists in Imo Senate urges FG to prioritise rehabilitation of Eastern rail line Deputy Governor, Health Commissioner appeal to striking Lagos doctors  Education Counsellor calls for consensus on 2020 WASSCE Group protests Edo Govt’s alleged attempt to obtain N20bn loan Farm inputs: Women farmers laud Gov. Buni Niger govt warns residents against flouting Coronavirus order Court remands man, 55, for allegedly raping 7-year-old Bayelsa Election: Supreme Court dismisses Timi Alaibe’s suit against Gov Diri’s candidacy Gov Fintiri flags-off distribution of fertilisers to victims of Boko Haram attack FG lauds IITA’s impact in cassava seed sector First happiness museum opens in Denmark Court remands Student for allegedly stabbing man, 35, to death in Kano Customs impounds contraband worth N351m in Edo 18 ships arrive Lagos ports with petroleum products, other items – NPA Chief Judge pledges to sustain support for FRSC in Kebbi State Senate passes Criminal Code Bill, maintains gender neutrality for rape, sexual offences Aggrieved contractors protest non-payment in Imo NGO calls for sanitation methods review to curb Coronavirus spread Ondo 2020: APC market women pledge support for Akeredolu’s re-election bid Coronavirus: NGO trains Plateau community, religious leaders on preventive measures Man in court for allegedly causing co-tenant’s wife to miscarry 8,000 health workers infected with Coronavirus in Africa – WHO CSOs seek quick action on agriculture masterplan in Kwara Aspen proposes price reductions for cancer treatment in Europe Coronavirus: Nuhu Bamali Polytechnic produces solar-powered hand sanitiser, others Coronavirus: NGO distributes palliatives to over 3,000 people in Osogbo Federal Agric varsity Zuru alerts public to fake recruitment portal $25,000 grant: Niger Hospital lauds South Korean Coronavirus support 3 men docked over alleged theft of N1.9m laptops Bill to restrict ex-electoral officials from contesting elections passes 2nd reading Lagos Govt. dedicates ”Tree Planting Day” to Coronavirus frontline health workers Coronavirus taking preference over other medical conditions- Concerned Nigerians Gov. Bagudu inaugurates committee on fertilizer supply, distribution Oyo Assembly reconstitutes standing c’ttees NAFDAC safety test approval not for efficacy of product -DG Iran’s top court confirms death sentence for 3 demonstrators NASS will engage security agencies to prevent killings in Kaduna — Lawan