The Institute of Chartered Accountants of Nigeria has urged the Federal Government to invest more in Small and Medium Enterprises and agricultural sectors to enhance the economy. The association made the call at the Investiture of the 4th chairman of Gwagwalada and District Society of ICAN and the inauguration of a new Executive Committee in Gwagwalada, Abuja. The new Chairman, Sosanwo Akinwunmi, Fellow of Chartered Accountants, said there was a need for improvement in the economy through gainful initiatives in these areas.
Mr Akinwunmi said that President Bola Tinubu should empower the agricultural sector, reaching out to them directly and creating wallets through the Ministry of Agriculture. He said that financial aid should be given directly to the people; provide farmers with fertilisers and other materials needed for SMEs.
He said the government should “Educate them on how to run their businesses effectively and monitor the businesses properly. I think with that, we’ll be able to improve our domestic productions.” The accountant also believes that the government needs to look inward, as he said that the crisis in the economy would be adequately addressed if the government tackles the menace of multiple borrowing.
Hear him: “A lot of things have happened, which include the multiple borrowings by the government, and not getting the right information about the developmental projects done with the money. Even telling the CBN to print money is an act of borrowing and it also has an impact on the economy. So, these are some of the things preventing the various economic policies put in place by the government to have a significant indelible value.” Mr Akinwunmi pledged that under his leadership the district would impact on the communities within it’s operation.
