The Vice President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA),
Asiwaju Olaitan Alabi, has called on Nigerians in the Diaspora to assist the economy by establishing industries which would help in arresting the high rate of unemployment in the country.
Speaking at the inauguration of Yebaot Automobiles Limited in Ibadan, Oyo State capital, Alabi noted that the establishment of industries by wealthy Nigerians at a period that the country was trying to diversify the economy, would go a long in reducing unemployment rate.
While noting that government cannot do it alone, the NACCIMA boss said the country needs foreign investments to boost the economy and reduce its dependence on petroleum products.
Alabi, who disclosed that Nigeria cannot survive with her mono-economy system , noted that the prices of petroleum products will continue to fall in the world market because developed nations have found alternative to the use of petroleum.
“The price of petrol in the world market has shattered our economy, as state governments are unable to pay workers’ salaries, which has affected the whole economy. We do not need petrol; we need to go back to agriculture. We have to face agriculture to put an end to
our sufferings,” Alabi declared.
In his response, the chief executive officer, Yebotat Automobile Limited, Mr Yomi Olatinwo, assured that the country would provide vehicles at reasonable prices to artisans, government officials and other interested members of the public.
Olatinwo, who is based in the United States of America, said he decided to return to the country to contribute to the economic development of the country.
He said the firm would go into partnership with foreign companies with a view to establishing automobile industry in Nigeria.
Asiwaju Olaitan Alabi, has called on Nigerians in the Diaspora to assist the economy by establishing industries which would help in arresting the high rate of unemployment in the country.
Speaking at the inauguration of Yebaot Automobiles Limited in Ibadan, Oyo State capital, Alabi noted that the establishment of industries by wealthy Nigerians at a period that the country was trying to diversify the economy, would go a long in reducing unemployment rate.
While noting that government cannot do it alone, the NACCIMA boss said the country needs foreign investments to boost the economy and reduce its dependence on petroleum products.
Alabi, who disclosed that Nigeria cannot survive with her mono-economy system , noted that the prices of petroleum products will continue to fall in the world market because developed nations have found alternative to the use of petroleum.
“The price of petrol in the world market has shattered our economy, as state governments are unable to pay workers’ salaries, which has affected the whole economy. We do not need petrol; we need to go back to agriculture. We have to face agriculture to put an end to
our sufferings,” Alabi declared.
In his response, the chief executive officer, Yebotat Automobile Limited, Mr Yomi Olatinwo, assured that the country would provide vehicles at reasonable prices to artisans, government officials and other interested members of the public.
Olatinwo, who is based in the United States of America, said he decided to return to the country to contribute to the economic development of the country.
He said the firm would go into partnership with foreign companies with a view to establishing automobile industry in Nigeria.
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