Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), has called on the Federal Government to make concerted efforts to provide an enabling environment for manufacturers to thrive.
Nzekwe made the call in an interview on Sunday, in Ota, Ogun, against the backdrop of the nation’s spiralling inflation rate from 17.33 per cent in February to 18.17 per cent in March, as disclosed by the National Bureau of Statistics (NBS) on Wednesday in Abuja.
He stated that it was only when manufacturers were producing more goods and services, under a favourable environment, that the nation’s inflation rate could drastically come down.
“The economy is currently not producing at the optimal level, due to the numerous challenges confronting the country, and this is a reflection of the continuous increase in the inflation rate.
“There is no productive activities in the country because fewer goods were being purchased amid lack of much money in circulation,’’ he said.
The former ANAN boss appealed to the federal government to also intensify efforts at providing the enabling environment, adequately serviced by stable power supply, good road network and adequate security.
Nzekwe stressed the need for the government to accord top priority to security, because some farmers have been unable to go to their farms to cultivate.
He further said that this development was hampering foreign direct investment inflow into the country to galvanize the manufacturing sector to production.
