Nigerian Federal Government Urged to Support Manufacturing Sector after Covid-19

Economic experts have called on the federal government to encourage the use of the country’s scarce resources and promote retooling of the manufacturing sector to revive the country back on track to tackle post COVID-19 challenges. The experts disclosed this at the weekend during a virtual webinar organised by the Nigerian Economic Society with the topic Getting the Economy Back on Track–Challenges and Policy Options. Professor of Energy Economics and former Director, Center for Petroleum Energy, Economics and Law (CPEEL), University of Ibadan, Prof. Akin Iwayemi said the country’s economic growth had been unstable with very slow debt recovery plan, adding that the effect of the pandemic further worsened the situation. He said the challenges of the country’s economic situation were too numerous including the weak production sector which is characterized by low productivity, and the manufacturing sector which has been comatose for more than two decades.