{"id":24217,"date":"2024-12-13T13:37:43","date_gmt":"2024-12-13T13:37:43","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=24217"},"modified":"2024-12-13T13:38:14","modified_gmt":"2024-12-13T13:38:14","slug":"nigerias-economic-handlers-must-buck-up-a-wake-up-call","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2024\/12\/13\/nigerias-economic-handlers-must-buck-up-a-wake-up-call\/","title":{"rendered":"Nigeria&#8217;s Economic Handlers Must Buck Up: A Wake-Up Call"},"content":{"rendered":"<h2 data-sourcepos=\"1:1-1:63\"><strong>\u00a0<\/strong><\/h2>\n<p data-sourcepos=\"3:1-3:325\">The recent announcement by Holcim to exit the Nigerian market after a 65-year presence is a stark reminder of the deteriorating economic climate in the country. This departure, coupled with the ongoing exodus of other multinational corporations, demands urgent attention and decisive action from Nigeria&#8217;s economic handlers.<\/p>\n<p data-sourcepos=\"5:1-5:298\">John Paul Emechebe, Head of On-Premise at Red Bull, aptly highlighted the gravity of the situation. The combination of unfavorable economic policies, infrastructure deficiencies, regulatory hurdles, and security concerns has created a hostile environment for businesses, both domestic and foreign.<\/p>\n<p data-sourcepos=\"7:1-7:307\">It&#8217;s imperative for the government to recognize that these challenges are not isolated incidents but systemic issues that require a comprehensive and coordinated approach. To stem the tide of corporate departures and attract much-needed foreign direct investment, the following measures must be implemented:<\/p>\n<ul data-sourcepos=\"9:1-13:0\">\n<li data-sourcepos=\"9:1-9:275\"><strong>Economic Policy Reform:<\/strong> The government must prioritize the implementation of investor-friendly policies that foster a stable and predictable business environment. This includes streamlining bureaucratic processes, reducing red tape, and ensuring regulatory consistency.<\/li>\n<li data-sourcepos=\"10:1-10:224\"><strong>Infrastructure Development:<\/strong> Significant investments in critical infrastructure, such as power, transportation, and digital connectivity, are essential to enhance the ease of doing business and reduce operational costs.<\/li>\n<li data-sourcepos=\"11:1-11:166\"><strong>Security Enhancement:<\/strong> Addressing security challenges, particularly in regions affected by insurgency and kidnapping, is crucial to safeguard lives and property.<\/li>\n<li data-sourcepos=\"12:1-13:0\"><strong>Domestic Manufacturing Promotion:<\/strong> A concerted effort to promote domestic manufacturing can reduce reliance on imports, create jobs, and stimulate economic growth.<\/li>\n<\/ul>\n<p data-sourcepos=\"14:1-14:175\">The time for complacency is over. Nigeria&#8217;s economic handlers must rise to the challenge and take bold steps to revitalize the economy. The future of the nation depends on it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 The recent announcement by Holcim to exit the Nigerian market after a 65-year presence is a stark reminder of the deteriorating economic climate in the country. This departure, coupled with the ongoing exodus of other multinational corporations, demands urgent attention and decisive action from Nigeria&#8217;s economic handlers. John Paul Emechebe, Head of On-Premise at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24220,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[302,16,346,366],"tags":[],"class_list":["post-24217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements","category-business","category-culture","category-economy"],"_links":{"self":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/24217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/comments?post=24217"}],"version-history":[{"count":0,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/24217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media\/24220"}],"wp:attachment":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media?parent=24217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/categories?post=24217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/tags?post=24217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}