Government Urged to Boost Oil Production and Support MSMEs for GDP Growth
Economists are urging the Federal Government to implement measures that will boost crude oil production and provide more support for Micro, Small and Medium Enterprises (MSMEs) sector.
According to Prof. Sherifdeen Tella of Babcock University, increasing oil output will spur economic growth. He suggested that the government should be innovative in raising crude oil output and address economic saboteurs undermining production, especially now that oil prices are on the rise globally.
Tella also emphasized the need for the government to enhance its export quota and ensure adequate crude supply to Dangote Refinery, which will guarantee self-sufficiency and expedite economic growth.
Prof. Ndubisi Nwokoma of Caleb University advocated more support for the MSME sector, citing that it is challenged by an unfavourable business environment, which has hampered its growth.