Jaiyeola Olaoye, director general, Nigerian Economic Summit Group (NESG) has challenged the Federal Government to ensure it works on ease of doing business in order to attract private sector investment into the economy.
Olaoye, who delivered a keynote address at the 2016 corporate forum/annual dinner organised by the Association of Professional Women Bankers (APWB) in Lagos emphasised the need for public private sector collaboration to revive the economy.
“How do we ensure we work on our infrastructure? There is need to do public private sector collaboration. We need to bring in private sector but private sector cannot come in if the environment is not attractive”, he said.
He regretted that Nigeria could not save during the boom period. However, he looked at macroeconomic event as one of the key pillars that could help businesses to thrive.
“Our policies are not consistent and coordinated. When you work as a businessman in an environment that is not coordinated and policies not consistent, it makes planning difficult”, Olaoye said.
In his opening remarks, Olusegun Ajibola, president/chairman of council, Chartered Institute of Bankers of Nigeria (CIBN) adviced Nigerians to not be discouraged with the terminology of recession. He added that “What we are experiencing today is a product of speculative behaviour. Let us not lose hope, Nigeria remains a strong economy” he said.
Speaking at the event, Olufemi Egbesola, national president, Association of Small Business Owners of Nigeria (ABSON) reminded companies and business owners that not is not the time to criticise the past but how they can make the but best out of the challenging times.
He urged the business owners to block all leakages, and among others make use of information technology to get out of recession.
Delivering a welcome address, Toyin Ojo, chairman, APWB, said the aim of this annual APWB event is to promote friendliness, good conduct, share knowledge, and build bridges for positive growth amongst its members, the institute, the financial circle and the corporate world.
She said the topic for this year, “Repositioning Businesses for Continuity in a Challenging Environment”, is a fall out of the current economic situation in Nigeria and how we can weather the storm in this trying time.