Nigeria should think outside the box...

Thinking out of the box is one the ways the federal
government has resolved to make the economic
recession short-lived in the country.
Making the people see why they should run a diversified economy instead of depending solely on crude oil production.
This state of recession abruptly subjects majority of the masses to hardship while they indulge in grudging and complaint about the current administration for solution.

     Here are 3 major issues the NASS should see as priority.
1. To tackle economic challenges
The burning desire of an average Nigerian is for the
government to put an end to the serious challenges the
country is facing right now. Irrespective of the crisis, the
masses is more interested in their cost of living, which
shouldn’t be too extreme as it is right now.
The people want to have a reduction in the cost of food
stuffs, means of transportation and other social amenities.
Designated bus stops get flooded with people over
outrageous fares by commercial vehicles.
crowd stranded at the bus stop
Other than the issue of budget padding or corruption that
were pending prior to the National Assembly annual recess
is the collapse in oil prices from over $100 per barrel to
about $48 which meant that the Nigerian economy would
experience serious challenges.
This means something drastic must be done to restore
confidence back into the economy by getting people to
invest and spend again.
Meanwhile, the Senate President Bukola Saraki in his
welcome back speech on Tuesday, September 20 th,
promised to ensure that the legislative body put an end to
this unbearable economic hardship .
2. To find possible solutions to the economic recession
The country has not experienced this level of economic
recession since the last 25 years, as the Gross Domestic
Product (GDP) growth. According to the National Bureau
of Statistics, the GDP in the second quarter of 2016 was
at -2.06% following a decline of 0.36% in the first quarter.
This has subsumed the Nigerian economy into recession.
The National Assembly being part of the parliament should
resolve to stimulate the economy through the regulatory
body to harmonise monetary and fiscal policy until
economic recovery is attained, by ensuring local
government borrowing does not crowd out credit for the
private sector.
They should also ensure that the executive raises capital
from asset sales and other sources to shore up foreign
reserves to calm investors, discourage currency
speculation and stabilize the economy.
These measures as said by Saraki, include reduction of
government share in upstream oil joint venture operations,
sale of government stake in financial institutions and the
privatization and concession of major/regional airports
and refineries.
3. Seek means to curb the Niger delta insurgence
The bombing of oil pipes by the Niger Delta militants has
also contributed to the challenges of the nation. The
bombings have crippled intending megawatts to be
generated by this current administration. It has also
increased insecurity in the region and the country at large.
Therefore, the issue of security shouldn’t be treated with
levity to avoid security insurgence in the country. Without
peace in a nation all effort by the government to revive
the economy will be futile.
However, the National Assembly should be ready to play
vital roles in the process and offer ideas on approaches
that will deliver effective solution in order to move the
region and the economy forward.