Don't Adopt Closed Economy, Ezekwesili Warns FG

Don't Adopt Closed Economy,  Ezekwesili Warns FG

Oby Ezekwesili, a senior economic adviser for Open Society Foundation, has warned the Federal Government against adopting closed economy.

Ezekwesili issued the warning when she spoke at a plenary session of the 2017 Annual General Conference of the Nigerian Bar Association (NBA) held in Lagos.

The former World Bank Vice-President for Africa said: ”The idea that a country’s economy can be closed is not anything founded on facts, but we, however, have to determine the degree of openness of the economy.
It is not possible to completely close an economy to the degree it cannot interact with other countries in the world.

You cannot discuss openness with an ideology, it is better to use an evidence-based approach.

On the Economic Growth and Recovery Plan launched by President Muhammadu Buhari’s government, she said that her opinion about the plan was that a country cannot create an economic reform plan that will not totally overhaul the system and the sectors in place.

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