Abiodun Adedipe, an economic expert, has called for a deliberate alignment of policies across fiscal, monetary, commercial and industrial planks to stop the country’s dependence on crude oil. He also recommended that President Muhammadu Buhari adopt the Lee Kuan Yew model.

Mr Adedipe advised Mr Buhari’s regime to reform and rationalise governance as the structure was convoluted and costly, suggesting that the civil and public service be professionalised by adopting the Lee Kuan Yew model.

The economic expert urged the regime to reform its fiscal operations by revisiting the Anya Committee report of 2011, which would rationalise fiscal expenditure and eliminate leakages.

He added that there was also the need to focus on industrialisation by revisiting and updating the National Industrial Revolution plan, which he said was the crux of the matter.

Mr Adedipe urged the regime to commit to local production of essential goods and target infrastructure development. He called for a public-private partnership with local partners rather than the present obsession with foreigners. According to him, Nigeria should revamp the funding structure for education and stop creating new institutions of higher learning. 

He made the call at a seminar organised by the Central Bank of Nigeria (CBN) for finance correspondents and business editors, held simultaneously in Abuja and Lagos on Saturday.

“If Nigeria sincerely wants to get out of dependence on crude oil and the woes this has brought since the petrodollar began flowing in 1974, some courageous steps must be taken,” Mr Adedipe explained.

(NAN)