ACCI tasks Buhari on power sector | Independent Newspapers Limited
Newsletter subscribe


ACCI tasks Buhari on power sector

Posted: Apr 3, 2015 at 8:15 pm   /   by   /   comments (0)

By Chibuzor Emejor –  Correspondent, Abuja


Abuja Chamber of Commerce and Industry (ACCI) Limited, has urged the President-elect, Muhammadu Buhari, to give priority attention to the development of the productive sector as well as ensure holistic turn-around of the power sector to set the Nigerian economy on the path of steady growth.

In an exclusive interview with the President of ACCI, Tony Ejinkeonye, on Thursday in Abuja, he pointed out that productive sector is critical to the development of the nation’s economy, adding that  any nation that does not have a solid productive base would continue to be import dependent which would in turn deplete its foreign reserves.

Ejinkeonye noted with concern that at the moment, the foreign reserves are being depleted due to low receipts from foreign exchange earnings which have put an undue pressure on the local currency to the point of “unavoidable devaluation.”

According to him, “Focusing on the productive sector will reduce importation of goods and services, generate employment and strengthen the economy.

“Nevertheless, the administration cannot significantly improve the productive sector without an improvement on the power sector.

“It all means that for the power sector, it must hit the ground running with some interim or emergency measures that will enhance the power situation while working out the long term solution.”

While congratulating Buhari on his victory at the polls, he further tasked him to restore discipline in all facets of the nation’s life, noting that “one of the greatest ills of our society at the moment is lack of discipline and from this lack of discipline emanates all other vices that have held our country down for many decades.”

He said, “Most of the times, governments  make excellent  pronouncements and policies but fail to put in place all that are required to see them through.