The Chairman of the NGX warned the economic ambition of $ 1Tr Nigeria who was at risk without policy stability

Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, on Tuesday, urged the federal government to overcome the problem of policy inconsistencies to reach the $ 1 trillion economy proposed for the country.

KwaiRianga called a journalist in Lagos.

He advised structural reforms, consistent policies, and collaborative efforts from the public and private sectors to reach the $ 1 trillion economy which was coveted in 2030.

He said: “A recurrent problem that might have caused a serious threat to actualize the $ 1 trillion economy is the policy of upside down by the government.

“When there is uncertainty about the direction of government policy, it makes a plan towards an ambitious target that is difficult.

“In this particular case, I strongly believe that the government of the Tinubu Bola President is serious and committed to the target, and this has been shown by some very difficult decisions that have been dared to be taken.

“However, it is necessary to go beyond that by preparing a structure that will directly be tasked with moving the country towards the 2030 target.

Also read: Tinubu $ 1Tr economy is not possible in five years – Bismark Rewane

“Such structures may need to be outside the slow and bureaucratic nature of civil service and must include public and private sector technocrats.

“Another challenge is the value of the country’s currency. It can be remembered that we are more than half the way to one trillion domestic dollars domestic product a few years ago, but the recent devaluation has reduced GDP in the term dollar by more than half.”

The Chairman of the NGX expressed optimism in increasing the value of naira and the effects of steps taken to save the Nigerian economy.

He noted that another challenge was a global trade war triggered by the President of the United States, the imposition of Donald Trump tariffs on countries around the world.

“This can reduce growth in the short to medium term globally and also affect the Nigerian economy.

“The solution, I think, is monitoring the development carefully to take the right action to reduce any risk that might arise,” Kwairanga added.