LAGOS – The Chairman of UBA Group and Transcorp Group, Tony Elumelu, has called on governments at all levels and corporate organisations to harness the human and natural resources in Nigeria to bring about a value chain of development to transform the economy.
Elumelu stated this in his keynote address at the recent CIBN 17th Annual Banking & Finance Conference with the Theme ‘Accelerated Economic Growth and Development: The State of Play and the Way Forward’ held at Transcorp Hilton in Abuja.
Speaking on the state of the nation, he said: We need a comprehensive strategy to support our vast and diverse population and unlock our potential.
“Nigeria is rich in natural resources and human in resources. But, time and time again, we have failed to invest in our people and our value chain. And by value chain, I mean not just our oil & gas or manufacturing, I mean power; I mean schools, universities and our institutions and all those foundations that provide the ecosystem for a country to succeed. A country that does not address its basic infrastructure needs, is a country that cannot realise its potential.
“At this time of uncertainty, we all – citizens and government – must transform this crisis into an opportunity—a blueprint for creating a thriving, people and investor-friendly environment.
“Our country has been hit hard. As a nation, we import more than we export, and with a manufacturing sector struggling and the continued growth of our population, we require more than just short term “interventions”
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Expressing his concerns over the inflationary trend being witnessed in the country, Elumelu said the inflation has not abated, but continues to surge and cause pain across the country’s economy
“We cannot overemphasise the importance of the private sector driving economic change, but delivering it in a way that is just and equitable – but we cannot do good and do well when our people who strive cannot thrive,” he added.
Oliver Alawuba, Group Managing Director, UBA Plc and Chairman Body of Banks’ CEOs & Chairman, 17th Annual Banking and Finance Consultative Committee, earlier in his remarks, commended the Governor of the Central Bank of Nigeria, Olayemi Cardoso, for the steady progress in restoring investor confidence, fostering price stability, and introducing much-needed reforms in the banking industry.
“On behalf of the Body of Bank’s CEOs, we thank you for the experienced with you and your team of Deputy Governors. The collaborative spirit between your team and the banks is pivotal to the advancement of our economy. collaborative relationship we have
“To the Chartered Institute of Bankers of Nigeria (CIBN), led by the 23rd President/Chairman of Council, Prof. Pius Deji Olanrewaju, PhD, FCIB, your tireless efforts in promoting ethics and professionalism have been the bedrock of our industry. This conference is yet another demonstration of your unwavering commitment to excellence.
“I also extend my heartfelt thanks to my colleagues, the MD/ CEOs of Banks, for your unwavering support and participation. Your leadership and insights are the driving force behind our industry’s resilience and growth.
To all participants, delegates, and members of the CIBN, your presence signifies our shared commitment to advancing not only the financial sector but also the broader goals of national development,” Alawuba remarked.
