Thursday, January 07, 2016

Zinox chairman to Buhari: Interact with private sector to boostinvestors confidence now

The chairman, Zinox Technologies, Dr. Leo-Stan Ekeh has advised President Muhammadu Buhari to urgently interact with the private sector in Nigeria so as to find lasting solution to declining economic situation in the country, reports ITRealms.

Ekeh made this call in Lagos at a new year chat with newsmen on Thursday, urging President Buhari to personally engage private sector operators and explain his economic agenda so as to stop the kind of tension in the sector which culminated in sacking of thousands of working class Nigerians.

According to him by engaging the big players, middle players and even the micro enterprises directly would afford the President to directly appeal to these players especially the big players who are currently retrenching to assist in resuscitating the economy.

"He could appeal to companies to leverage on some reserves. By appealing to companies or employers indirectly he is appealing to shareholders who are expecting dividend at the end of the day," Ekeh said.

As said by him, the nation benefits from such appeal stressing that if some N2bn could be invested in fighting boko haram is channeled on education, it will be of world class.

Ekeh pointed out that President Buhari could also appeal to chief executive officers (CEOs) of big firms to change their lifestyles due to the condition of the nation's economy.

"The country is in the bad shape because most companies are being frustrated due to they cannot access forex for their businesses to thrive" he said.

Ekeh further believes that the President could raise about N30bn as loan from the likes of Shell Petroleum and Chevron.

The government, he said, could also borrow from social arms of the society like the churches and mosques among other religious organizations to lend to the government.

He warned that if the stalemate on forex is allowed to continue, it could lead to less than 1 per cent of those currently in business to remain in business.

Ekeh equally advised the government to reduce the number of education institutions per state to about two, and restructure their curriculum to improve education.

Maintaining that most Nigerians will like to pay higher and get results in form of well trained graduates than shunning out graduates that are not labour market-ready.

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