Business Recession: Our Only Explanation Is To Reduce Price of Rice, Garri - Saraki

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ProfRem

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The Senate President, Dr. Bukola Saraki, has said the only business left with government is to seek ways to reduce prices of goods and save jobs as recession hits Africa's largest economy.

He said during the recess he interacted with various groups in Kwara who pleaded that everything should be done to put an end to the suffering of Nigerians.

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Mr. Saraki, therefore, advised the Federal Government to among other things put in place a pro-business leadership-level engagement platform with the private sector to boost market confidence in the economy.

“The government and the Central Bank of Nigeria must agree on a policy of monetary easing to stimulate the economy and harmonise monetary and fiscal policy until economic recovery is attained.

“The Federal Government must retool its export promotion policy scheme with export incentives such as the resumption of the Export Expansion Grant (EEG) and introduce export financing initiatives.”

He also advised the government to raise money from sale of assets to shore up foreign reserves, calm investors and discourage currency speculation.
 
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