MAJOR ECONOMIC PROBLEMS IN THE WEST AFRICAN SUB-

REGION

COMPRISING:

•GHANA•NIGERIA•SIERRA-LEONE

• UNDEREMPLOYMENT/ UNEMPLOYMENT:• BALANCE OF PAYMENT DEFICIT• HIGH ILLITRACY LEVEL• LACK OF INFRASTRUCTURE• CORRUPTION/FINANCIAL

MISMANAGEMENT• BRAIN DRAIN• OVER POPULATION• INFLATION

UNDEREMPLOYMENT/UNEMPLOYMENT

• Aim: Reduction in the unemploymrent /underemployment rate:

- Labour Market Survey

- Encourage direct investments in the economy

- Tax concession

- Overhaul our education policy

BALANCE OF PAYMENT:

• Aim: Ensure Balance Of Payment

- Diversification of production and market

- Increase import duties on luxury goods

HIGH ILLITRACY LEVEL: • Aim: Reduction of Illitracy Rate:

- Set target

- Adult literacy classes

- Girl Child Education

- Set up Education Trust Funds

- Reduction of tax on educational materials/equipment

- Free and compulsory primary education

LACK OF INFRASTRUCTURE • Aim: Improvement in Infrastructure:

- Encourage investments and private participation in building hospitals, schools, roads etc.

- Reduction in lending rate

- Maintenance culture

CORRUPTION/MISMANAGEMENT OF FUNDS

• Aim: Drastic reduction in corruption:

- Strict financial management

- Wage/Salary review

- Budgetary control

- Introduction of penalties/incentives to punish or encourage corrupt or good officers