Experts Seek Economic Policies To Boost National Output

A financial expert, Mr Titus Okurounmu, yesterday urged the Federal Government to support domestic producers with economic policies that would enhance the manufacturing sector to boost national output.
Okurounmu, a former Director of the Central Bank of Nigeria (CBN), said this in an interview with newsmen in Lagos.
He said such support would also help to reduce the current inflation rate standing at 15.60 per cent.
“Domestic producers must have access to critical infrastructure that will ensure they operate at optimal levels.
“Key infrastructure like electricity ought to be more available to boost their businesses and expedite our industrialisation,” Okurounmu said.
He noted that the monetary authorities must ensure that foreign exchange was made available for local producers in the country.
Okurounmu said that with the right sum of foreign exchange available for local producers to acquire equipment and machinery to enable them function effectively, they can manufacture substituted imported goods, and grow the economy.
Also, the National Coordinator, Africa Farming Project, Mr Bright Okwu, said the CBN should expand its anchor borrowers’ scheme.
“Expanding the apex bank scheme is imperative to achieve food security in the country, “Okwu said.
He noted that the federal government should continue to improve the security situation, so as to have uninterrupted food supplies, particularly in the hinterland where there are often tribal clashes among the people.