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Anambra: Private Sector is the key to our Economy – Azubogu

...Says without enabling Infrastructure, it will be difficult to attract Investment ... Calls for new tax regime that will energize private sector and not kill them

Anambra: Private Sector is the key to our Economy – Azubogu

…Says without enabling Infrastructure, it will be difficult to attract Investment

… Calls for new tax regime that will energize private sector and not kill them

Engr Chris Emeka Azubogu while as a guest on a live Radio Program of Alpha Radio Nnobi, Anambra State recently, stated that Private Sector is the key the Economy of the state and went on to made other valid points while answering questions from the public.

Engr.Azubogu who is also the member representing Nnewi North/Nnewi South/Ekwusigo Federal Constituency while on the radio phone-in live programme, exhibited passion about Anambra Development.

“The state has been revolving around private sector which hold the key for the economy of state. But If you noticed, our private sector is currently faced with huge erosion of Infrastructural facilities making some of them to close down, while the surviving ones operate below. So, we have to create enabling Infrastructural facilities for the Private Sector thrive and create jobs in Anambra State” he said.

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The phone-in programme that saw many callers asking questions, while others commending him for some of the projects he facilitated into Anambra State lasted for 1hour, 20minutes.

When a caller asked about increasing tax in the state especially on the traders and other businesses.

The Nnewi born data expert, Azubogu stated that “there is drop on revenue projections by govt across the country, but if the govt push the burden of quest to increase revenue on already WEAK businesses, these businesses will die and it will throw up more problems to the society like unemployment, crime etc. I rather suggest that we come up with new revenue generating strategy that will not hurt our weak private sector and also work on crashing the cost of running Government too” he said.

On the question about GDP, the man fondly called ‘Mr Project’, stated that GDP is not enough in determining development. According to him:
“You can have high GDP and still with poor development. GDP alone don’t determine development. I am more concern about Human Development Indexes (HDI). How is our education sector, Healthcare, what of Poverty level etc.”

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Azubogu stated that public policies driven by individual(s), who don’t understand it, always turn Public Policy to Public crisis.

“One has to understand complexities of Public Policies before the he/she can drive these policies to achieve its policy objectives. Without knowledge of public policy by the driver, it will end as a Public Crisis and this is one of the issue we face on our leadership enthroment in this part of the world”

The proponent of ‘Help Is Coming’, Azubogu also stated that the state’s assets are the People of the state. But added that there is need to fashion institutional policy that will reflect the need to key the People into the knowledge economy.

“Knowledge based economy is the future and we have to invest in this line as a state” he said.

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The Anambra born Federal Lawmaker, add that “Most of the things we import, are things we can partner with those foreigners and begin to manufacture them here locally and thing again take us to issue of Infrastructure and business growth policy. Our fiscal policy regime should also reflect our quest to drive manufacturing sector. He said.

On the Ongoing Industrial Park, Engr Azubogu stated that is in line with vision to create anchore Economic Hub within the state.

According to the University of Nigeria, Nsukka trained Engineer,
“The ongoing Industrial Park located at Unubi-Akwaihedi-Uga (Nnewi South and Aguata LGAs) is in line with the quest to create anchor Economic Hubs within the state that will drive SMEs around them. Apart from over 20,000 direct jobs and over 100,000 indirect jobs, Nnewi Industrial Park is projected to trigger growth of about 10,000 SMEs and we went anchore economic hub like this across the three senatorial zones of the state.” Azubogu said.

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