Rogers Nwoke, a financial expert, has urged the President Muhammadu Buhari Federal Government to increase investments in the micro economy to ensure sustainable growth in the country’s Gross Domestic Product (GDP).
Speaking on Monday, he said government must put in place more viable economic policies to exit the country from recession, adding that the government was already on the right track.
Nwoke told NAN that, ”0.55 per cent is tiny; it just gives us hope that the direction is right, but we need to do a lot more in some of the key indicators that I have said.
”Development of the micro economy holds key to this, and a lot of investment should be directed to the micro economy; and microfinance banks have a very strong role to play.
”Our biggest issues are liquidity. If we can look at how to make microfinance banks very liquid, pump money into that sector.
”We appreciate the interventions that have been given, but interventions are just handouts, they do not solve the problem.
“If you look at the SME sector, the government says that there is a gap of about N9.6 trillion and how much money are we putting into that place.
”Lets redirect the flow of capital to the sectors that have a direct impact on the economic development of the country , if we do that, I think we are going to do a lot more.”