JUBILATION: Buhari concludes economy recovery plan to quash recession

The Former Deputy Governor of the Central Bank of Nigeria, Obadiah Mailafia said the Federal Government is already working on plans to get the country’s economy out of recession.

He made this comment at the Forum of Laureates of the Nigerian National Merit Award in Abuja on Tuesday.

Mailafia said necessary blueprints would be put in place to diversify the economy and focus on non-oil based sectors.

He said the collapse of Global oil prices and the fiscal challenges the country is currently facing is a clarion call for the economy to be diversified.

Mailafia said inbuilt framework for rigorous implementation is needed to monitor, evaluate and get feedback for the diversification to work.

He also said NNPC should be reinvented as a commercial hub and that Nigeria has to build heavily on petrochemical so that local and international investors can invest in them.

Mailafia also said geological survey should be accelerated throughout the country to top the Ministry of Solid Minerals and repackage it.

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