Victor EzejaTo achieve fiscal stability and boost job creation in Nigeria there is need for sustainable investments in viable economic ventures across states, says economic expert, Prof. Kenneth Amaeshi.
Amaeshi, who is the Chairman Sustainable Financing, European University Institute, Florence Italy, and Chief Economic Adviser to Imo State government, stated that many states across the federation need robust investment in vital skills and economic opportunities to create better jobs for residents to curb the massive influx of people to other commercial cities like Lagos, and also abroad in search of greener pastures.
Speaking on Channels Television’s Sunrise Daily on Tuesday morning, Amaeshi, who is the first black African professor at the University established in 1972, said: “We need investors that would come in and address our problems and make money from that, but also invest in us, meet us where we are and grow with us.”
He said such investors that come with selfish agenda to serve their interests do not create room for sustainable development that is not what the people really need.
Under the current federal government structure in Nigeria, subnationals depend mainly on allocations from the central authority for their financing needs.
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The economic hardships that came with the removal of subsidies on petrol in the last four months, forced the federal government to tinker with disbursing N5 billion to each state as palliatives to cushion the effect.
However, these are short term measures, as according to Amaeshi, the task of governance to alleviate the sufferings of people is the responsibility of all stakeholders at different levels.
He called on private individuals and businesses to see the need to invest in their communities and compliment the efforts of governments.
The scholar said that part of Imo State’s industrial policy is deploying massive investments in digital skills initiative to help create jobs for residents of the state, especially youth.
Recently, the Imo State Governor, Senator Hope Uzodinma, announced his intention to train 300,000 Imo youths on digital skills for the global digital economy over a three-year-period starting from January 2023.
The State economic adviser stressed that such initiative would help to address the challenge of human capital.
He also emphasised the need for people holding political leadership positions to properly communicate their intentions about development projects to the people to gain their support and participation in making them successful. He noted that effective communication is key because of existing trust deficits between the government and the people.
“I see governance as a collaborative endeavour. It’s not something we should just leave to the government alone. People should be involved at different levels,” he stated.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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