Nigeria at 66: Experts urge FG to revive moribund industries, tackle insecurity
Lagos, Sept. 2026( TBLÂ Africa ) Some business experts have urged the Federal Government to revive ailing industries, invest in critical infrastructure and tackle insecurity to reposition the economy and improve living standards as Nigeria marks its 66th independence anniversary.
The experts made the call in separate interviews in Lagos on Tuesday.
Mr Okechukwu Unegbu, a former President of the Chartered Institute of Bankers of Nigeria (CIBN), said reviving moribund industries was critical to transforming the local economy and achieving self-reliance.
“The Tinubu administration should do more in resuscitating ailing industries. That is key in transforming our local economy.
“Government should inject funds to turn them around because they are imperative in ensuring our growth and self-reliance,” Unegbu said.
He urged the government to continue to improve the business environment to encourage investment in productive sectors and ensure access to affordable funds.
Also, Mr Chris Nemedia, a former Director of Research at the Central Bank of Nigeria (CBN), called for increased investment in infrastructure renewal to support growth.
“The government should ensure that infrastructure such as reliable electricity is more regular in our industrial areas.
“This will enable more firms to emerge and reduce the challenges associated with unemployment,” Nemedia said.
Nemedia also urged the government to intensify efforts to address insecurity which, he said, was hindering Foreign Direct Investment (FDI) inflows.
“Our country needs to be more innovative and fast-track the state policing approach to ameliorate insecurity threats.
“This will engender confidence and increase investment inflows, considering our business prospects,” he said.
Mr Eke Ubiji, Executive Secretary of the National Association of Small and Medium Enterprises (NASME), advocated more support for small businesses.
“The government should disburse grants or allocate credit facilities at not more than two per cent to our members.
“This will expedite their growth, considering the sector’s contribution to the domestic economy,” Ubiji said.
He added that government should support SMEs to fabricate machinery locally to conserve foreign exchange and ensure production of more affordable goods
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