Governments and Leaders at all levels have been advised to establish hotspots driven by organic and competitive private sector growth to avoid economic depression.

An entrepreneur, Mr. Tein Jack-Rich gave the advice while interacting with newsmen in Abuja.

He explained that massive engagement of the private sector would increase productivity and reduce capital flight to balance trade as well as stabilize consumer prices.

Mr. Jack-Rich, also a politician, pointed out the Nigeria and Africa were import dependent and needed to take actions that would boost their economies.

He noted the possibility of issues such as higher inflation, economic tension, massive unemployment, increased social unrest, turbulence in currency management and inconsistencies in market growth next year.

Mr. Jack-Rich therefore urged policy makers to encourage local content and ensure that Nigeria produce what it would consume and spend.