The President of Abuja Chamber of Commerce and Industry (ACCI),Tony Ejinkeonye, has commended the Federal government for paying attention to the call of the Chamber and indeed the wider Organised Private Sector (OPS) to organise an emergency economic summit with the vision of looking inwards on how to sway the Nigeria economy on the brittle it has found itself.
Ejinkeonye also urged the government to craft a well articulated “Terms of Reference” that would take cognizance of the relevant stakeholders, critical sectors of interest principally the real sector.
He said the nation’s economic growth rate which has fallen from an average of 5 per cent two years ago to 3 per cent was as a result of the prevailing problems facing the country.
He pointed out that the nation’s economic growth is crucial to resolving the issue of exchange rates or any potential inflationary spikes.
Recently, according to the latest Capital Importation report from the National Bureau of Statistics (NBS), Nigeria’s foreign inflow fell to $9.64 billion, down 53.5 percent from $20.75 billion in 2014.
The President of Abuja Chamber of Commerce and Industry affirmed that the Economic summit is timely and of utmost necessity.
According to him, it will offer the opportunity for economic experts to ponder on the current economic crisis the country is facing; therefore it should be supported by all the relevant stakeholders in the country.
Ejinkeonye who stressed the need for government to ensure cost effectiveness and prudent management of resources in organising the summit, said the management of Abuja Chamber of Commerce and Industry was willing to provide its facilities to assist the government in hosting the event.
It would be recalled that the ACCI President, Tony Ejinkeonye and other eminent Nigerians from the Academia had in several fora advised the Federal government to convene an emergency economic summit so as to seek ways to bring the current economic woos to a halt.
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