The Statistician-General of the Federation Adeyemi Adeniran has called on security chiefs to tackle insecurity to increase the supply chain of the economy.
Adeniran made the call at a public lecture/unveiling of Impart Economic Journal published by Executive Director, Initiative for Leadership and Economic Watch, Splendour Agbonkpolor.
He said the Gross Domestic Product (GDP) growth recorded by the country was not sufficient enough to boost the economy.
He added that when the environment was secured, people will be able to access their farms and produce more food in the market which will force prices down.
Adeniran stated that the country needed security for the production of crude, even though the present security situation had not increased crude production but had reduced oil theft and pipeline vandalism.
Represented by the Head of the National Account Division, Dr Baba Madu, he said: “We need national security to grow the economy, like agriculture for instance, if we have a reasonably secured environment in place people can be able to access their farms and produce more thereby increasing the supply chain of the economy. There would be more food in the market and that will force prices down.
“We need security for the production of crude, even though the present security situation has not increased crude production, oil theft has reduced, and pipeline vandalism has reduced too.
“The economic growth in quarter 3 is 2.54 which is still not sufficient enough. To have reasonable growth you need to have a triple increase more than the population growth rate, which is 2.6 – 2.8.”
He further explained that agriculture can produce raw materials that have linkages to all sectors of the economy, and when there is an increase in the value chain there will be an increase in additional economic activities.
Adeniran also said there will be an increase in farmers’ income, and the provision of employment for the teeming graduating youths.
He said: “The report we released on the Gross Domestic Product in the oil sector showed that crude oil production increased from 1.2m to 1.46m. That will help the economy a lot.”
Agbonkpolor stated that with the theme: “Public Private Partnership: The Key to Building Economic Resilience and National Security,” Nigeria’s situation currently was such that all well-meaning citizens can no longer afford to sit idle because the country was free from most natural disasters that affected other countries.
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He said: “Nigeria’s problems are not natural disasters that happen in other countries. However, our problem is that of poverty which is man-made. Therefore, Nigerians have the responsibility to find solutions that will eradicate it and not God.
“Today’s event is most significant in the building of Nigeria’s economy; the issue addressed concerning Public Private Partnership is an area that is not fully optimised to bring about the rapid economic growth of the nation.
“The partnership between the Impart Economic Journal with the Raw Material Research and Development Council was to strengthen public-private partnership policy as an effective tool to create wider opportunities for economic activities in Nigeria and create jobs and income-earning avenues for unemployed Nigerians.”