Experts urge public and private sector to come together

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June 22, 2017 3:59 PM

Experts urge public and private sector to come together

Recession

IF Nigeria was ever going to pull itself out of recession, experts from the Nigerian Stock Exchange and Bloomberg CEO roundtable suggested both the government and private sector needed to get into bed together more often.

If the government and private sector worked more closely together, as experts suggested, then the rivers of capital would be able to flow more freely and subsequently, stimulate the economy now and into the future.

It’s no secret that many sectors, especially the oil sector, in the Nigerian economy were suffering as a result of a lack of investment.

It was contended that the government needed private stacks of cash to fund much needed infrastructure projects.

If the private sector didn’t inject money into major infrastructure projects --- like building roads, bridges, hospitals and schools --- then Nigerians will suffer greatly.

Some banks, like Heritage Bank, have already made moves to diversify its portfolio to better support agriculture projects and Small and Medium Enterprises.

Experts and industry leaders gathered at the roundtable talks to discuss and explore how Nigeria could ‘innovate’ its way out of recession.

In a statement released to the press, NSE said the talks would “address the topical issue of resource dependency and the alignment of the economic recovery plan and roadmap to insulate the Nigerian economy from the shocks that come with it”.

Speaking on the event, Oscar N. Onyema OON, Chief Executive Officer, NSE, said “as the Nigerian economy begins to manifest its potential to rebound out of recession, it is important to sustain important dialogues around innovation and diversification of our economy.”

“Our collaboration with Bloomberg was envisioned to engender dialogues that will provide practical solutions for private and public sectors in Nigeria.”

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