The Centre for Democracy and Development, CDD, has pointed out how President Muhammadu Buhari-led Federal Government can improve on its economic policies.
CDD stated that Buhari government needs to increase capital investments and reforms in the power sector, while Nigeria needs to focus on increasing production in the oil sector.
It stated this in an assessment of the effectiveness of government policies and programmes on economic growth and development of Buhari’s government since inception in 2015.
The report signed by Yusuf Shamsudeen, Principal Programmes Officer of CDD reads partly: “The power sector needs both increased capital investment and reforms to deliver the energy necessary to promote rapid growth. At a minimum, DISCOs must be incentivised to both consolidate and re-capitalise.”
For the oil sector, CDD said:
“Nigeria can do little about international prices. It must, therefore, focus on increased production and local processing since this sector by itself and through its inter-linkages with many other areas of the economy can contribute to both growth and diversification.”