THE Federal Government has been urged to increase investments in telecom services, infrastructure and financial technology, as this would help boost the economy and strengthen its resilience against shocks.
A renowned economist, Mr Bismarck Rewane said this at an economic forum organised by his company, Financial Derivative Company Limited (FDC) themed ‘Corporate Resilience: Economic Recovery Against Unforeseen Pandemics.’
Rewane noted that as the economic growth of he country is expected to remain low from 2023 to 2027 forecast period, attributable to limited fiscal space, huge infrastructure deficit and monetary tightening; the government need to be proactive in putting the economy on the right track.
He, therefore, called on the government to increase investments in telecom services, infrastructure and financial technology, noting that this would help boost the economy and strengthen its resilience against shocks.
A renowned economist, Mr Bismarck Rewane, has said for the government to put the economy on the right track, it must understand the domestic issues facing the country by knowing the difference between policies and promises.
Delivering the keynote address, Mr Rewane said, “We believe that corporate resilience is an integral part of building corporate strategies, and organizations should leverage the key learnings from the pandemic to form the basis of its strategic decisions.”
“Government must understand the difference between policies and promises so that more credible policies can be developed and driven by credible leadership.”
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“Once we better understand the domestic issues we face, we will see that our recovery as a nation will be much more dynamic than a lot of other countries, and I am optimistic that things will change for the better,” he added.
The event was designed to drive discussions on the need for organisations to prepare against future pandemics and the need for equitable economic recovery plans.
The forum, which took place in Lagos on December 5, attracted key stakeholders from the telecoms, FMCG, agriculture, and infrastructure sectors.
