Dr Chijioke Ekechukwu, an economist has advised government to sanction Ministries, Departments and Agencies (MDAs) that are not meeting the desired expectations of government policies.
Ekechukwu, a former Director-General, Abuja Chamber of Commerce and Industry, gave the advice in an interview with the News Agency of Nigeriak (NAN) on Tuesday in Abuja.
“We are yet to see sanctions of MDAs that are not meeting the desired expectations of government policies.
“As far as no individual, agencies and ministries are punished, the desired score card of the government may not be achieved.
He said that for Nigeria to have moved 10 places upwards in the Global Competitiveness Index Report in the last one year, was commendable.
NAN reports that the World Economic Forum (WEF) on Oct.16 ranked Nigeria 115 out of 140 countries in its 2018 Global Competitiveness Index report.
The report said that Nigeria moved 10 places upward from its 2017/2018 ranking of 125 out of 137 countries.
The report said that Nigeria’s ranking improved in four of 12 ranking pillars, namely infrastructure, health, business dynamism and innovation capability.
According to him, the report measures a set of developments in
institutions, policies and factors that set the sustainable and medium-term levels of economic prosperity presently.
He said that the rating used data from the World Bank, International Monetary Fund (IMF) and other public Information Bureau.
“The pillars measured are institutions, infrastructure, ICT adoption,
macroeconomic stability, health, skills, product and labour market,
financial systems, market size business dynamism and innovation,’’ he
Ekechukwu said that for Nigeria to be rated 115 out 140 at 47.53 index points,
was not worth celebrating.
According to him, Nigeria is the largest economy in Africa and needs
to reflect that in the Global Competitiveness Index.
Ekechukwu said that there was the need for the country to improve on its policy on the “Ease of Doing Business’’, measure periodically the milestones
achieved, and interrogating the distortions and strength of the
He also advised that new economic policies should be put in place to drive economic growth in all the indices indicated above. (NAN)