Kola Ayeye, former executive director of Asset Management Corporation of Nigeria, AMCON, said there is substantial collapse of social infrastructure just as the middle class is getting thinner.
Kola Ayeye, the Group MD/CEO of Growth and Development Limited (GDL) made the statement on Thursday, May 10, 2018, during a briefing to mark the opening of GDL’s mainland office in Ilupeju, Lagos.
Ayeye, a seasoned professional with over 30 years’ experience in banking, financial services, audit and advisory services and former executive director of Asset Management Corporation of Nigeria, AMCON – a government body established to acquire non-performing loans – said the country is experiencing a substantial collapse of infrastructure.
“Nigeria our country is generally punching below its weight. We have the substantial collapse of social infrastructure. The middle class is very thin and it continues to get thinner.”
He said that it was a contradiction for social infrastructure to collapse, for the middle-class to remain emasculated and for profits of the financial system to be approaching N1 trillion.
Explaining that there must be a way to achieve the two, Ayeye said that it is the main reason Growth and Development Limited (GDL) was established as specific funds and products to actualise the mission would be unveiled over the next few months.
“We want to be a leading diversified financial institution, creating wealth and transforming society. We want to provide unique financial solutions which strengthen and expand the middle-class,” he said.
Recently, the world second richest man, Bill Gates, also advised the Nigerian government to maximise the nation's greatest resource, which is the Nigerian people, saying the country will only thrive when every citizen is able to thrive.