Saturday 25 May 2019

WHERE INSTITUTIONS ARE WEAK, WHATEVER ECONOMIC GROWTH IS ACHIEVED IS NOT SUSTAINABLE AND WILL EVENTUALLY COME BACK TO ZERO, SAYS BISMARCH REWANE

Bismarck Rewane, CEO, Financial Derivatives Company Ltd
A renowned and celebrated economist and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has said that building strong institutions is key for Nigeria to achieve desired economic growth. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

He spoke at the 2019 Time Management and Productivity/Nigeria’s Employee of the Year Award Summit (TAMS/NEYA Summit) held in Lagos. “There are three variables for economic growth. They are good leadership, sound policies and strong institutions. A combination of the three will still produce the desired level of growth. But where institutions are weak, whatever growth is achieved is not sustainable and will eventually come back to zero,” he said. http://www.tectono-business.com/2016/06/are-you-estate-surveyor-or-property.html

According to him, it is regrettable that Nigeria continues to trumpet its abundant potential due to the richness in human and natural resources yet little is being done to harness this richness. http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html He admonished the country to urgently start to work on the famed potential to achieve economic growth.

The economics guru stated that labour productivity in the country is very poor and that if that must be corrected to achieve Gross Domestic Product (GDP) growth that is commensurate with our size and resources, then the economy must make hard choices.

He said, “GDP growth can be achieved if we fix our weak infrastructure. The power sector problem, for instance, continues to be a huge burden with the sector hampered by enormous debt overhang and the inability to attract fresh financing. But this can easily be corrected if the debts are converted to equities.”

The financial expert also called for a review or the elimination of the fuel subsidy regime and the restructuring of the exchange rate management to make it more efficient.

Other stakeholders at the summit equally stressed the need for an urgently overhaul of the nation’s infrastructure, particularly in the education sector. http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html


Are you an exporter? Do you like to master the contemporary dynamics of non-oil export trade and avoid getting defrauded by the foreign buyers of your exportable products? Click on the link below: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

Are you the head of transport department of your company? Are you tired of your car’s same old look? Is your vehicle losing shape & colour? Do you desire your vehicle to look like a brand new one? Then, it is the right time to come to GOF Autos Limited for priming, panel beating, painting (with Sikken paint) and oven baking at rate of N70,000 for cars and N80,000 for SUVs. For details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html

Have you ever imagines how the financial status of your company will grow when more than 20,000 CEOs and top managers of multinational companies pay for your products and services? For more information, click on the link below: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html

No comments:

Post a Comment