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NIM implores govternment to reflate the economy: Business : - Nigeria's Premier Online Forum


NIM implores govternment to reflate the economy

By: dayan (M) |Time : September 06, 2016, 07:57:27 AM
By Sunday Aikulola   |   06 September 2016   |   2:20 am

Prof. Munzali Jibril. PHOTO:

Worried by the nation’s present economic recession, The President and Chairman of Nigerian Institute of Management (NIM) Prof. Munzali Jibril, has urged the government to reflate the economy.

Addressing journalists on the forthcoming yearly national management conference in Lagos recently, Jibril expressed serious concern over the status of the nation’s economy.

According to him, “the recession was brought about by cumulative effect of corruption, fall in prices of oil, attack on gas pipelines, effects of militancy, and foreign exchange crises which led to the naira losing value.”

As a way out, he said: “Government has to spend money. It is government’s money that circulates and stimulates economic activities. Within the current budget, there is enough money that should be pumped in. Government should spend on capital projects.

“The task of building a new Nigeria is imperative and more urgent now than ever before. The nation has stagnated in all areas of development over the years, and gross mismanagement of its abundant material resources has been the bane of meaningful development and progress.

‘The country has continued to suffer from policy somersaults, which had made it almost impossible to build enduring economic and infrastructural legacies. Since no nation experiences real growth by adopting ad hoc and short term approach to governance, Nigeria has no choice than to start putting concrete structures in place in all critical sectors of the economy,” he stated.

Speaking further on the conference, he said ‘the annual National Management Conference had always provided a platform to brainstorm on burning and contemporary issues. This year’s conference with the theme: “Building a new Nigeria: Strategic Options and Policy Imperativeness,” is scheduled to hold between the 18th and 20th of September, 2016 at the International Conference Centre Abuja. Prof. Jide Osuntokun, Pro-chancellor and Chairman Governing Council, Ekiti State University, will be the main theme speaker.

The Managing Director/Chief Executive Officer, Citibank, Nigeria, Akin Dawodu, will be speaking on, Diversification of the Nigerian Economy, while former Chairman, Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, will be speak on, Minimising Corruption in Public Life.

Re: NIM implores govternment to reflate the economy

By: dayan (M) |Time : September 06, 2016, 08:00:50 AM
It is a basic economics principle. I wonder why FG is panicking and deflating the economy under the guise of fighting corruption and waste.
The economy needs to be reflated for economic activities to resume or pick up.
We deal with inflation later.
For now, INVESTMENT is the watch word.

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