An Economist, Prof. Evans Osabuohien, has called on the Federal Government to address security and other fundamental problems currently facing the country to stem the high inflation rate.
Osabuohien, who is the Head, Department of Economics, Covenant University, Ota, Ogun, made the call in an interview with the News Agency of Nigeria (NAN) on Monday.
NAN reports that the don was reacting to the April inflation report released by National Bureau of Statistics (NBS) on Wednesday in Abuja which put the rate at 33.6 per cent.
He listed some fundamental issues like production, transportation, logistics costs and security as the major factors driving inflation in the country.
“The federal government needs to provide critical infrastructure for the real sector to produce at optimum level and at reduced prices.’
“They should also be encouraged to export some of the products to generate foreign earnings for the country.
“Security problems should equally be addressed to enable farmers go to their farms for planting and harvesting,” he said.
Osabuohien stressed the need for the federal government to make concerted efforts toward ensuring stable power supply in order to attract foreign investors into the country.
“There is also the need to harmonise the fiscal and monetary policies to boost economic recovery,” the economist said. (NAN)
