Financial experts have advised the President-elect, Sen. Bola Tinubu, to adopt policies that will enhance the local productive capacity to check importation into the country.
They gave the advice in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
Mr Okechukwu Unegbu, former President of the Chartered Institute of Bankers of Nigeria, urged the President-elect to initiate economic policies that would boost domestic production.
“Adopting macro-economic policies geared at enhancing productive capacity is imperative to reduce importation into our shores.
“This will spur our ability to achieve self-reliance and begin to create wealth over time,” Unegbu said.
He urged the incoming administration to appoint a competent management team that would implement reforms for the nation’s development and address the structural challenges in the economy.
Unegbu added that the incoming president should consider reforming the banking system so as to give more emphasis on enhancing the productive sector.
“The banking system has deviated from its purpose which is to support budding businesses and currently depriving customers their hard earned money.
“Their action is negating prospective businesses and does not serve the interest of the public,” Unegbu
He noted that the president-elect should be cautious of the Bretton Wood institutions and their advisories toward the country.