Party chieftain advises Buhari on how to end recession

National Treasurer, Allied Congress Party of Nigeria (ACPN), Chief Angus Uzoamaka, on Wednesday said full adaptation to Public-Private Partnership (PPP) was imperative in rescuing Nigeria from prevailing economic recession.

Uzoamaka, an economist, stated this in an interview with the News Agency of Nigeria (NAN) in Abuja while reacting to calls by some Nigerians for sale of government’s assets as solution to the problem.

He urged the Federal Government to provide loans and grants, with friendly business laws, to existing private companies, saying that the approach would engender the country’s economic revival.

‘’Federal and state governments should transfer some services to private sector with agreed terms of services and benefits to the people.

‘’It is expected that government should give these companies tax breaks, tax deductions or tax exemptions for them to excel,’’ Uzoamaka said.

Condemning the call for sale of some vital national assets to stimulate the healthy economy, he said that partnering with the private sector would provide the needed antidote.

According to him, the sale of assets will benefit only the affluent few, with its attendant consequences on ordinary Nigerians.

“We have tried that before during the privatisation era which was characterised by corruption and other acts of indiscipline,’’ he said.

Uzoamaka advised the Federal Government not be misled by persons who were being governed by greed and corrupt purposes.

‘’If you allow them, they will buy Nigeria off without alleviating the poverty in the land,’’ he said.

The politician maintained that PPP was the only way out of the recession “without government’s borrowing or selling any of its assets’’.

He said that PPP would guarantee efficient and qualitative economic palliatives.