Business

FG’s monetary policies injurious to job creation- Oshiomhole

PORT HARCOURT- GOVERNOR Adams Oshiomhole of Edo State has described Federal Government’s Monetary policies as too injurious to job creation, just as he said that investors and employers of labour would be discouraged to set up businesses when interest   rates are very high.

He also stressed that Nigeria has all the potentials, but warne that  without power, without sensible industrial policy, without tackling corruption, we will continue to wallow in symptoms of Boko Haram.”

Speaking yesterday at the Governor Chibuike Rotimi Amaechi led  Nigeria Governors’ Forum, NGF Retreat in Port Harcourt, govenor Oshiomhole while contributing to a paper titled, “Over view of the state of Unemployment in Nigeria,” however  blamed high level of unemployment on faulty monetary policy and lack of electricity, adding, “It is like telling someone to live long and then giving him poison.

“How can you create jobs by pricing money out of the reach of investors in the name of achieving market stability.

According to him, there was the urgent need for  the private sector to drive employment at all levels of government as the Governent only cannot achieve it, adding, “Two things drive the private sector, money and infrastructure.

“Governments, including the Edo State government, will never be able to employ everyone. Even if I devote all the resources of Edo State to create jobs.

Speaking further, the Edo State governor who stressed the need for the provision of power if Nigeria must drive the economy, disclosed that companies like Michelin, Bata, textile firms in Aba had closed down because of lack of power, adding, “There is a limit to what we can do as governors without power.

“In Bangladesh, a small country, 60 percent of their total earnings come from textile industries, creating millions of jobs. This is not what we see in pentecostal business where, with the power of the Holy Spirit, everything becomes possible.

Also speaking yesterday, governor Abiola Ajibola of Oyo State who spoke on Transitioning out- Life after office: Perspectives and Challenges who disclosed that he would become a preacher to tell others that there is God after death, however urged his colleagues not to interfere in the activities of their successors or trying to interfere in their activities.

According to him, the Governors as they prepare for life after office must know that there will be no longer protocol which they must get used to and live today as of it forms the last day in office.

Anthony-Claret Onwutalobi
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC and CEO of Portia Web Solutions. Mr. Claret publishes and manages the content on Codewit Word News website and associated websits. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
https://www.codewit.com

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