The Nigerian economy has been on the decline in the recent past. African economic development also depends on the Nigerian economy. The decline has therefore affected other economies across Africa. Mr. Peter Obi is offering free advice to Nigeria on what should be done to improve the economy. Peter is the former governor of Anambra State. He states that the Nigerian state should invest heavily in education and skill training. Moreover, it should invest in Small and Medium Enterprises (SMEs). Those are the only ideal ways of overcoming the economic challenges.
Obi was delivering the speech at the 2018 African Small and Medium-Scale Roundtable in Yenagoa. Furthermore, Nigeria should focus on education and skill acquisition. This will help in reducing the rate of youth unemployment. That will ensure that there is an economic development. He agrees to the fact that Africa has very many opportunities. But investment in education and SME support are the only way to tap the opportunities.
Education is the only way that Africa can use to move from the exporter of raw products. It will allow it to move to a manufacturer of finished goods. This will make the continent an important member of the global technological world. He also stated the need for young people to make wise investments. African problems can only be solved by the youth and this is if only they invest wisely.
The idea of starting SMEs was to have a direct impact on people. This is according to Mr. Stephen Akake who is the Special Adviser to Bayelsa Governor on Trade and Investment. He also said that fruitful talks should be there on how people can access loans. This is especially from micro-finance banks. This will help people to improve their businesses. The Bayelsa Government had created micro-finance banks. This bank will help business-minded individuals to access loans. The collective support of SMEs by people will help improve African economy.