A former President of the Nigerian Stock Exchange (NSE), Dr Goodie Ibru, has advised the Federal Government to boost investment in infrastructure as a way of strengthening the economy further.
Ibru, who is also a key player in the country’s hospital industry gave the advice in an interview with newsmen at the weekend in Lagos.
According to him, investing more in infrastructure would improve the economic sector and consequently attract more Foreign Direct Investment into the country.
He recognised that the administration of President Muhammadu Buhari has been doing its level best to address various challenges confronting the country since he assumed office in 2015.
“I believe they (the FG) have come up with programmes that they are pursuing and in the fullness of time, it will translate into an improvement in the economy.
“Infrastructure is very important and my advice to the government of today is to take the issue of infrastructure very seriously.
“Luckily, the price of oil is going up and, therefore, we hope to generate more revenue. I will suggest that a substantial or reasonable part of it could be used to develop infrastructure.
“If we do that, the cost of doing business in Nigeria will reduce. In order words, we will be able to produce more cheaply and that would mean affordability of products produced in Nigeria for Nigerians.
“Also, we will be more competitive in the international market. It will also encourage entrepreneurs; people who want to set up their own business.
“I believe if the infrastructure is tended to and is improved, the economy will grow; in fact, we will have rapid economic growth, which will create employment for youths,” Ibru said.
Ibru, who is also the pioneer chairman of the Ikeja Hotels, said that concentrating more on infrastructural development would help reduce the issue of insecurity and street crimes, as youths would be gainfully employed and avoid anti-social activities.
He said he was optimistic that the tireless efforts of the government toward reviving the economy would yield positive results.