Nige­ria’s econ­omy now in na­tional emer­gency - Oba Otudeko

Daily Trust - - NEWS - By Ahmed Dio Agbo

The Chair­man of Honey­well Group Plc, Dr. Oba Otudeko, yes­ter­day said the coun­try’s econ­omy is at present in a na­tional emer­gency.

Dr. Otudeko dis­closed this in his open­ing re­marks at the on-go­ing 1st Daily Trust Agric Con­fer­ence and Ex­hi­bi­tion in Abuja, which was or­ga­nized in part­ner­ship with the Fed­eral Min­istry of Agriculture and Ru­ral De­vel­op­ment.

“I re­spec­tively opine that our cur­rent eco­nomic state is a na­tional emer­gency and all hands - fed­eral, state and lo­cal gov­ern­ments - must be on the deck to­gether to craft a last­ing so­lu­tion, us­ing agriculture and agribusi­ness as driv­ing ve­hi­cles,” he noted.

The chair­man pointed out that due to lack of fore­sight, “we have cre­ated an econ­omy char­ac­ter­ized by sus­tained un­bal­anced bud­get with high fis­cal deficit; high cost of gov­er­nance; long era of con­spic­u­ous con­sump­tion; lim­ited sav­ings, if any, at all lev­els; un­em­ploy­ment un­main­tained frag­ile lean in­fra­struc­ture.”

He urged all stake­hold­ers in the na­tional econ­omy to use this mo­ment of na­tional his­tory to di­ver­sify the eco­nomic base so as to de­velop other na­tional en­dow­ments: land and agri­cul­tural re­sources, for­est re­sources and wa­ter re­sources, among oth­ers.

Ear­lier in a wel­come ad­dress de­liv­ered on be­half of Mal­lam Kabiru A. Yusuf,

high youth and and Chair­man/CEO, Me­dia Trust Ltd; Mr. Ab­hay De­sai, the Chief Op­er­at­ing Of­fi­cer (COO), said Daily Trust was de­ter­mined to bring agriculture to fo­cus in Nige­ria.

He stated that Nige­ria was blessed with other nat­u­ral re­sources that must be prop­erly har­nessed to di­ver­sify the econ­omy.

Mr. Ab­hay, who dis­closed that his par­ents were farm­ers, noted that 70% of In­dia’s econ­omy is run by agriculture. He called on Nige­ria to give more at­ten­tion to the sec­tor.

Dig­ni­taries who at­tended the oc­ca­sion in­clude Al­haji Umar Mu­tal­lab, Chair­man, Jaiz Bank, Sen­a­tor Ab­dul­lahi Adamu, Ar­chi­tect Kabiru Ibrahim, Pres­i­dent, All Farm­ers As­so­ci­a­tion of Nige­ria (AFAN), Al­haji Mo­hammed Kudu -San Tu­raki, Sarkin No­man Nige­ria, and rep­re­sen­ta­tive of the North­ern tra­di­tional in­sti­tu­tion, Al­haji Lawal Has­san Gumi, the Emir of Gummi in Zam­fara State as well as Dr. Adamu Baba Yususa and Ona of Abaji.

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