A MEDIA research and data analytics organisation Dataphyte has released its maiden Nigeria post-oil economy advisory note.
The advisory note is a series of sectoral reports that provide an expert appraisal of critical issues within each target sector.
It also proffers feasible private sector responses and public policy solutions.
The advisory note titled “Nigeria’s Post Oil Economy: Going the Housing Consumer Credit Path” examined the employment and income potentials of the manufacturing and construction sectors, positioning the housing subsector as an alternative for revitalizing Nigeria’s economy.
The housing sector was also identified as a viable revenue alternative to the government’s perennial debt financing.
Dataphyte said the advisory note highlighted the unsustainability of aggressive deficit spending and monetisation of deficit, which it said weakens macroeconomic outcomes.
It also examined previous attempts to stimulate the economy and how those attempts have predominantly focused on production, neglecting consumption.
According to Dataphyte, tapping into consumer demand can boost economic growth.
“Housing construction and homeownership may be a silver bullet, stimulating the construction and manufacturing sector which can in turn create more jobs and employment, and drastically reduce Nigeria’s huge housing deficit,” the advisory note said.
Dataphyte described the advisory note as a veritable resource for policymakers, especially as conversations around stimulating the economy and reducing Nigeria’s debt burden continue to take centre stage.
The organisation added that stakeholders in the housing sector would benefit from the advisory note’s insight on positioning the sector for big wins that underscore cross-cutting development.
Blessing Otoibhi is a Multimedia Journalist and Anchor host for the News in 60 seconds at The International Center For Investigative Reporting. You can shoot her a mail via [email protected] or connect on Twitter @B_otoibhi