curator
Administrator
Mr Ekwo Omakwu, U.S.-based Fund Manager, on Monday urged the organised private sector (OPS) to develop a template that would assist the country to achieve its inclusive economic development.
Omakwu gave the advice in a telephone interview with the News Agency of Nigeria (NAN) in Abuja.
He charged banks and other blue chips companies to rise up to their billings, stressing that “OPS in Nigeria do not look vibrant”.
Omakwu, a former worker of the National Bank of America, also urged government to provide a conducive environment for OPS to drive the nation’s economy.
According to him, “investment culture and minimal corruption are factors that have propelled developed economies; we can do it here too’’.
“The banks can decide to bring down the current astronomical lending rates to encourage commercial activities in 2014.
“Individuals will not be encouraged to take up risks bearing activities if the banks are not prepared to assist them bear some of these burdens.
“In conjunction, the Federal Government must be ready to deploy its bonds in a manner that the business community can benefit.
“This symbiotic relationship, if carried out with diligence, could take care of the country’s infrastructure needs,’’ he said.
On the investment drive of the Federal Government, Omakwu said `` President Goodluck Jonathan and his team have embarked on inexorable drive to woo investors in the outgoing year’’.
Omakwu led a team of investors from the U.S., in conjunction with Paramount Cinema, to build amusement park, housing estate and film village in Apo District of Abuja.
Omakwu gave the advice in a telephone interview with the News Agency of Nigeria (NAN) in Abuja.
He charged banks and other blue chips companies to rise up to their billings, stressing that “OPS in Nigeria do not look vibrant”.
Omakwu, a former worker of the National Bank of America, also urged government to provide a conducive environment for OPS to drive the nation’s economy.
According to him, “investment culture and minimal corruption are factors that have propelled developed economies; we can do it here too’’.
“The banks can decide to bring down the current astronomical lending rates to encourage commercial activities in 2014.
“Individuals will not be encouraged to take up risks bearing activities if the banks are not prepared to assist them bear some of these burdens.
“In conjunction, the Federal Government must be ready to deploy its bonds in a manner that the business community can benefit.
“This symbiotic relationship, if carried out with diligence, could take care of the country’s infrastructure needs,’’ he said.
On the investment drive of the Federal Government, Omakwu said `` President Goodluck Jonathan and his team have embarked on inexorable drive to woo investors in the outgoing year’’.
Omakwu led a team of investors from the U.S., in conjunction with Paramount Cinema, to build amusement park, housing estate and film village in Apo District of Abuja.