Economic recession, Federal Government advised to shun foreign loan
The Federal Government has been called upon to shun foreign loan as the only option to bail the country out of the current recession and look inward to other means of injecting money into the economy in order to push production as well as empower spending.
ESV Casmir Anyanwu, the Principal Partner at Cassy Anyanwu and Co, made the call recently while speaking on, “Intrigues in Real Estate Investment Analysis and its Role as a Panacea for a Recessed Economy,” at the Town and Gown seminar organised by the Department of Estate Management of Covenant University.
Anyanwu, who was the guest speaker at the event, urged the government to borrow from idle funds including those recovered from treasury looters. “Government should borrow from pension funds and the unclaimed dividends accounts that run into several trillions of naira and some other funds that are lying idle and unproductive,” he said.
He argued further that Real Estate sector of the economy is able to bail out the country from recession. “Despite the fact that recession hits real estate market and investment hard,” he noted, “it is still about the most durable and fastest to recover from recession,” Anyanwu argued.
The Head, Department of Estate Management, Dr. Chukwuemeka Iroham, had earlier noted that the topic for the seminar was apt and would afford the participants which consisted of faculty, staff and students of the department the opportunity to have an insight to the intrigues in the real estate practice.