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Buhari’s Economic Policies Take Toll On Economy –OPS

Key arm of Nigeria’s organised private sector, Lagos Chamber of Commerce and Industry (LCCI) met yesterday and advised government to speed up governance, loosen grips on funds and accelerate infrastructure upgrade.


Business leaders in Nigeria have taken a swipe at the first key policy steps by the government of President Muhammadu Buhari, saying the slow governance process, treasury single account and congestion at the ports take huge tolls on the economy.

Nigeria’s Organized Private Sector (OPS) decried the belated formation of the Federal Executive Council (FEC) saying the absence of ministers has slowed down delivery of economic and social services in the country.

The group which comprises National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Manufacturers Association of Nigeria (MAN) and National Association of Small Scale Industries (NASSI) have remained critical of delays in the formation of cabinet by the new government.

The largest single unit of the group, the Lagos Chamber of Commerce and Industry (LACCI) yesterday declared that absence of ministers has created avacuum in the governance process and called on relevant agencies urgently address gap.

The LCCI Council which met in Lagos stressed the need for speedy formation of the executive council of the federal government by appointing ministers into positions at all the ministries.

The UNION reports that President Muhammadu Buhari whos has since been dubbed ‘baba-go-slow’ came up with his list of cabinet ministers weekend, and the National Assembly unveiled the names Monday.

Protests which have trailed the ministerial list threaten elongation of the screening process as a spate of public outcry greets some of the names in the ministerial list.

The president who was voted on the ticket of anti-corruption crusade is under local and international expectation to go beyond party considerations and seek out honest technocrats with performance pedigree to assist in delivering on his campaign promises of plugging financial leakages and accelerating economic development of the country.

However, the list of 21 ministerial nominees has nothing new to applaud as the entire nominee save the Dr. Ibe Kachikwu who is widely seen as parading lofty industry profile with little or no political affiliation.

Others in the list are known feuding party men and embattled politicians that have remained in government at several tiers until their present reappointment. Some of them are under investigation for allegations of corruption.

The profile of the nominees post a threat of staggered clearance processes at the National Assembly where an interplay of party intrigues are expected to throw up protests against smooth

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–  Sopuruchi Onwuka


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