Business
Recession: Expert Urges Infrastructure Upgrade
A civil engineer, Mr
Oluwafemi Akintola, has called on the Federal Government to invest more on industrial, agriculture and tourism sectors to address the current economic challenges of Nigeria.
Akintola said this in an interview with newsmen in Ilorin yesterday, against the backdrop of the need for diversification of the economy.
“I urge the government to invest more on industrial, agriculture and tourism sectors for a better nation building,’’ he said.
“Back in industrial revolution, the introduction of technologies; transportation and manufacturing had a deep impact on the social, economic and cultural conditions of times.
“Inventors defined the wealth of a nation while patriotic citizens played roles in building and upholding a nation, and together, both pushed the world forward.
“In nation building, some areas – industrial, agriculture and tourism – have to be improved on in the process of revamping the country’s economy.
“Industrialisation can simply be defined as the process of transforming an economy based on extractive activities into one based on manufacturing, thereby creating an industry in the sector, for example fishing and mining.
“Nigeria is blessed with vast natural and mineral resources beyond oil; we should begin to tap into these resources for overhaul of the nation’s economy.
“Industrialisation will increase the nation’s gross national product, employment opportunities, improve international trade and stimulation of other sectors, technological development and infrastructure development as well as improve standard of living.
“Investing in these sectors will attract local and foreign investors, provide employment opportunities for the teeming unemployed, generation of income and source of livelihood.