Gen. Buhari Presidency And The Global Expectations

Buhari’s Presidency: Expectations Of  Stakeholders



The operators of various sectors of the economy have advised the incoming government of Gen. Muhammadu Buhari to come with a blue print for the economy that will enhance the living standard of Nigerians.

They also added that the blue print should ensure acceleration of reforms in the oil and gas sector in order to attract more investments in both the upstream and downstream segments of the sector, and wage sustainable war on corruption.

Below are the expectations of operators in the various sectors of the economy from Buhari:

Lagos Chamber of Commerce and Industry (LCCI)

The president of LCCI, Alhaji Remi Bello said:
The incoming government should ensure acceleration of reforms in the oil and gas sector in order to attract more private investments in both the upstream and downstream segments of the sector. The chamber urges the incoming administration to address the fundamental of the high cost of doing business and low productivity. Ensure a level playing field for all investors across all sectors with regard to import tariffs, funding opportunities, tax incentives.”

On his part, Chief Chuku Wachuku, former Director- General, National Directorate of Employment and immediate past President of National Association of Small Scale Industry, NASSI, said:
The new President must partner with the broader organised private sector and not select five per cent which cannot create the impetus for growth.”

National Association of Government Approved Freight Forwarders (NAGAFF)

According to NAGAFF boss, Dr. Boniface Aniebonam,
The emphasis right now should be sustainable attack on the issues of corruption.”

Euro Global

Mr. Felix Aighobai, Director, Sales, Euro Global Foods and Distilleries Limited and Director, Membership and Public Relations, Nigeria Association of Small and Medium Enterprises, NASME, Nerus Ekezie, however, advised Buhari to start from where his predecessor stopped. He said:
We are particular on continuation on most of the sound economic policies, like the agricultural transformation and the various SME development initiatives, including the sustainability of the SME intervention funds and the establishment of the Development Bank of Nigeria.”

Association of Nigerian Licensed Customs Agents (ANLCA)

National President ANLCA, Prince Olayiwola Shittu, said: “All the reports of all the committees that have been piling dust, whether seen or unseen but without any action taking place should be looked into. It is not a matter of setting up further committees but they should look at previous committees’ reports.”

He also expressed hope that the Buhari administration would review the implementation of the controversial national automotive policy.

Capital market operators

Capital Market operators on their part called on the incoming government to address the infrastructure gaps in the economy by using the capital market instruments.

Insurance operators

On the expectations of the insurance industry from the incoming government, insurance operators advised that economic growth should be the main focus of the new government. They urged the incoming President to come out with a blue print for the economy that will enhance the living standard of Nigerians.

Director General of Nigerian Insurers Association, Mr. Sunday Thomas, said:
We expect increased government patronage of insurance, compliance with compulsory insurances as well as insurance of government assets, as well as review of the mode of taxation on insurance services. In all, we expect the new government to build on the achievement of the previous administration.”


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