The recently held 2016 Independent Shareholders Association of Nigeria (ISAN) Triennial Delegates Conference/Gala Night in Lagos provided an opportunity for financial experts to come together to air their views about how best Nigeria can lift her economy from the current recession. From the comments of speakers, the following points were gathered.
- Government must raise funds from multinational agencies, reduce interest rate and debt servicing to achieve the desired growth- Mr Bismarck Rewane, Chief Executive Officer, Financial Derivatives Ltd.
- An expansion in credit supply and reduction of the Cash Reverse Requirement (CRR) for banks to lend to the real sector- Mr Bismarck Rewane, Chief Executive Officer, Financial Derivatives Ltd.
- Effective power sector should be achieved as it is paramount for the growth and development of other sectors of the economy- Mr Arnold Ekpe, former Group Managing Director, Ecobank Transnational
- Redundant assets could be concessioned to bring the country out of recession- Mr Bismarck Rewane, Chief Executive Officer, Financial Derivatives Ltd.
- Government and regulators should work together to deepen the nation’s bourse- Mr Arnold Ekpe, former Group Managing Director, Ecobank Transnational
- Public schools, hospitals and public hospitals need to be more efficient and effective to reduce pressure on foreign exchange- Mr Bismarck Rewane, Chief Executive Officer, Financial Derivatives Ltd.
- Tax rebate and tax holidays should be provided for local industries to encourage local manufacturers- Mr Ikechukwu Kelikume of the Lagos Business School
- Government needs to reflate the economy through infrastructure development to create economic activities- Mr Arnold Ekpe, former Group Managing Director, Ecobank Transnational
- A balance in monetary and fiscal policy for the country should be achieved to move forward- Mr Ikechukwu Kelikume of the Lagos Business School
- Government must promote the non-oil export sector to increase the country’s export revenue- Mr Ikechukwu Kelikume of the Lagos Business School
- Reduction in the cost of governance as the Nigerian political system is very expensive- Dr Erastus Akingbola, former Managing Director, defunct Intercontinental Bank Plc.
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