A serious minded and focused Government shall reverse policies which have failed to impact positively on the economy as the deplorable economic situation worsens.
Of worry is that fact that the energy crisis has joined the long list of national problems, which have opened the door very wide for widespread uncertainty which has become more visible.
Although the actual figure of Nigerians in the poverty range is an issue for debate, it is a known fact that millions of Nigerians are trapped in the hunger and poverty net.
Presently, after about five years of political statehood and economic management, the economy is down due to fundamental structural defects and is now in a worrisome state of disequilibrium.
Indeed, the productive and technological base of the country is very weak, outdated, narrow, inflexible and highly dependent on foreign technical know how.
Poor and inadequate infrastructure lack maintenance while the effectiveness of incentives which are at its lowest, have resulted in the poor utilization of the available factors of production.
Regardless of the very attractive domestic market and vantage location of the country, insecurity and policy challenges are two major factors discouraging foreign investment.
When the above mentioned are placed side by side some other non-economic factors, a very weak private sector which depends heavily on distribution, emerges.
Interestingly, the emergence of the current global trends has brought about the urgent need to redirect and reshape public policy.
The Powers that Be in Nigeria ought to be guided by the political realities of the prevailing situation in the country and also by the lessons of experience of past administrations.
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