CBN holds round table discussion tagged “Going for Growth 2.0”

BY Chris Nwachukwu

The event which was hosted by the Central Bank of Nigeria at CBN headquarters Abuja on Wednesday had the theme  Going For Growth 2.0.

Business tycoons including Tony Elumelu, Ibukun Awosika, Jim Ovia, Aliko Dangote and the General Managing Director of NNPC, Mele Kyari were also at the event.

Dangote while addressing participants at the event called for more seriousness in handling diversification of Nigeria’s economy.

“I think we really need this time around, be more serious so that we don’t just keep talking about diversification. It is possible but people are not really focusing on it.

“We need to find a solution as to how to make our country to be producing things that we consume,” Dangote said.

Alhaji Aliko Dangote, the Chairman Dangote Group also said  government and other major stakeholders must be more proactive to ensure that diversifying the nation’s economy becomes a reality.

He explained that diversification of the nation’s economy seemed illusive, adding that all hands must be on deck to ensure the diversification becomes a reality.

According to him, it is unacceptable for a big country like Nigeria to continue to depend on importation.

“If you look at the economy of Asia, its mainly export and in our own case, we have the domestic market. We are a country of more than 200 million people. Our market is huge.

“Our import in 2019 was about 47 billion dollars. It is not sustainable, we cannot have 200 million people and we are still importing most of the things we consume.

Also at the event, the Minister of Transportation, Rotimi Amaechi explained how the Coronavirus outbreak is affecting the speedy completion of Lagos-Ibadan expressway.

Amaechi said the project would have been completed in May but might not be feasible anymore because the contractors handling the project are employees of the China Civil Engineering Construction Corporation (CCECC).

“Lagos-Ibadan would have been ready in May. Unfortunately, nearly all of them that went for the Chinese New Year were quarantined by their government. Their government said they cannot come back until they find a solution to the Coronavirus.

“It is only those who didn’t travel that are here and therefore the speed of the construction has reduced,” Amaechi said.

“We need to be more serious this time around, we have been talking about diversification, it is becoming illusive, is it impossible to diversify? No, it is possible but we need to be focused.

“We must work on how to achieve that and with the kind of people that gathered here today, we can realise that and make our country to be a producing nation,’’ he said.

The event also had group discussion on various topics including “Coronavirus and the economy” were various experts and stakeholders gathered to suggest way forward.

Business tycoons, economists and Nigerian Ministers including Babatunde Fashola, works and housing; Rotimi Amaechi, Transportation; Zainab Ahmed, Finance as well as the Governor of CBN, Godwin Emefiele were present.