Dr. Segun Akinloye, a development expert, is calling for urgent structural changes to rescue Nigeria’s economy from deepening fiscal and economic distress.
He emphasizes the need for economic transformation driven by competence, courage, and accountability.
According to him,moving away from dependence on oil revenues and pursue economic diversification with urgency, saying that exploring agriculture, solid minerals, and the creative industry, which hold enormous untapped potential will accelerate the desire Nigerians expect.
“Implement policies that support SMEs, key drivers of employment and innovation. Simplify tax regimes, ease access to finance, and provide infrastructure support to help local businesses scale” he said.
He further noted that Harmonizing the foreign exchange market to stabilize the naira,increase local production to reduce imports and adherence to fiscal discipline to rebuild investor confidence will go extra miles to reach the economic aspiration of Nigeria.
“Establish a national infrastructure development fund, backed by public and private sector investment. Manage the fund transparently under a robust public-private partnership framework” he advised.
“Digitalize government operations to improve transparency and reduce leakages
– Strengthen anti-corruption frameworks and provide legal protections for whistleblowers
– Allocate at least 20% of the national budget to education
– Reform the curriculum to produce a workforce equipped for the digital economy” he said.
Akinloye believes that with the right leadership and bold policies, Nigeria can achieve inclusive and sustainable growth, but notes that the window of opportunity is rapidly closing.
