HOW TO GET NIGERIA OUT OF RECESSION.

That Nigeria is now in recession is no more open to debate. All the signs have manifested.

Hence this is not the time to tactfully withhold monthly reports like composite price index in an attempt to blindfold any one on galloping inflation or reduce outcry against current political leaders.

The time is more than ripe to stop calling on citizens and investors to bear the pains and also stay positive. Instead, the time now demands clear cut incentives to check the downswing by offering all and sundry what is in it for them if they act positive and remain Nigeria friendly.

After all, no businessman is a philanthropist first before becoming a businessman. The reverse is the case, you make profit first, before you decide to spread the surplus around.

Today's  task of getting Nigeria out of the woods comes in two twin packages: Get more foreign exchange to flow in while applying available forex more efficiently and Get the local economy to be more productive, efficient and innovative.

The forex shortage has since become a stranglehold being made worse by policy inconsistency; domestic insecurity and official acts and statements that make investors have rethink.

As at July for example, according to statistics from the Nigerian stock exchange, total portfolio investment since the year had gone down by 44.4% to N714.6bn.

The drop was mainly from foreign portfolio investment that went down by 55% to N313.49bn when compared to cumulative to July 2015. On the other hand, domestic investment decreased by 31.8% to N401.1bn.

Besides, equally worrisome was the fact that even the domestic portfolio drop was driven more by decrease in institutional portfolio by 35.4% to N211.1bn as against 27.6% drop to N189.29bn for domestic retail.

Now, the real big money for investment any where come from foreign inflow and domestic institutions, hence it is obvious something has to be done fast to restore the confidence of these more knowledgeable and returns conscious investors.

Add to the rescue package incentives to encourage more remittances home and more exports, it is possible that the stranglehold can be loosened even if crude oil prices continue to stay down.

On the domestic side, the issue has to do with the harm from imported cost push inflation in view of the Naira's woes; local cost push portion as related to energy cost and supply; cost of funds; and growing government appetite for more revenue.

There are also the issues of little or no innovation; infrastructure and public service inefficiency and political instability.

Again, what the times demand is not appeals and political promises but actions as evidenced by more realistic budgetting; deliberate creation of enabling environment for innovation and for more value added through incentives with which people can see what they will gain immediately if they do as expected of them.

Sometimes, what is needed as incentive is just the right idea. For example, government has been calling on unemployed youths to register for its planned support programme which closes August 31.

Imagine what would have happened if the same people were told that the first 100,000 to register will be given immediate priority attention, irrespective of where they reside or come from. By now, none would have needed to be appealed to.

Imagine that instead of appealing to Nigerians to grow crops in their backyard, they are told instead what they could gain immediately by doing so and your guess is as good as Henates on what would have happened in the past one year plus of Buhari.

Decoded, the way out of current depression in Nigeria is simple: Think incentive to get people to bring in more funds; to get Nigerians to innovate and produce more; and to ensure that less investors especially of the crucial kind, have less reasons to look elsewhere even in these times.