Finance industry experts last Friday envisaged the growth of the Nigerian economy at Lagos Business School Finance Conference, tagged: “Resilience of the Nigerian Finance Industry in the Face of Changing Global Circumstances.”
The Finance Conference is a one-day event organised by the Finance Club of LBS, a student led activity that promotes the acquisition of financial knowledge and skills amongst MBA students. It is also aimed at providing policymakers and other stakeholders in the Nigerian finance industry a platform to discuss pertinent issues.
Mr Bismarck Rewane, Managing Director, Financial Derivatives who gave the keynote speech, observed that the recent GDP rebasing had accurately captured the size and shape of the economy, unlike previous years. He recommended infrastructural development as one of the key strategies that could be leveraged on for economic growth.
“What the rebasing has done is show us we have been running a $500 billion economy on $100 billion infrastructure,” he said. “Going forward, the sectors that will win are those that build infrastructure.”
Panel discussions followed, which explored the resilience of the Nigerian economy on the basis of current indices. Participants included Mr Kayode Akinkugbe, MD/CEO, FBN Capital Limited; Mr Uzoma Dozie, Deputy Managing Director, Diamond Bank plc and Mr Kolawole Owoduni of the Nigerian Sovereign Investment Authority. With insightful analyses, they recommended redistribution of wealth, quality education and infrastructural development as the best ways to exploit the GDP rebasing for the benefit of the nation.
“My immense gratitude goes to the Dean and faculty of LBS. Thank you for providing us the platform to make this event happen. LBS continues to be the breeding ground for young, professional and ethical managers who make a positive impact on their surroundings,” said Osiri Ahudiya, President, Finance Club 2014, during her vote of thanks.