SHAWWAL 4, 1429 A.H.
THURSDAY OCTOBER 2 2008
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Don urges Nigeria cap on US economic recession advantage
A Lecturer at the University of Jos , Dr Ndubuisi Oche, has predicted that the economic recession in the U.S. could stimulate a boom for the Nigerian economy.
Speaking with the News Agency of Nigeria ( NAN) ) in Jos, Oche said that some investors might want to come and invest in Nigeria , if convinced of the security of their investments.
"It is believed that investors might be leaving the U.S. market, so what Nigeria should do is work out a better investment platform that will be attractive to foreign investment.
"That way, some of those investors that will be leaving America will find their way to Nigeria ", he said.
Oche, who described himself as an adherent of banking liberalisation, expressed support for the recent declaration by the Central Bank Governor, Chukwuma Soludo, that the nation's economy was still healthy.
According to him, "such pronouncements should be constantly made because the fact that our banking system is sound could be good for intending investors," he said.
He suggested that the U.S. government's prosecution of the war against terrorism might have taken its toll on the public purse.
He stressed the need for more exports to the U.S. from Nigeria to enable the country gain from the falling price of the dollar.
