deposit 5000
slot deposit 5000
slot gacor situs toto
togel online
toto 4d
situs slot toto 4ddemo slot gacorslot 88
slot gacor slot gacor
slot gacor
brenjitu
slot gacor
situs toto
situs toto
SITUS TOTO
situs toto
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot gacor
slot pulsa
hongkong lotto
slot gacor
brenjitu
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
slot 4d

Expand beyond banking to attain $1tn economy, Afrinvest tells FG

Onwubuke Melvin
Onwubuke Melvin

The Federal Government has been informed that the nation must expand outside the banking industry to reach the estimated $1 trillion GDP.

This was disclosed by the Group Managing Director of Afrinvest, Chioke Ike, at the launch of its 2024 Banking Sector Report, themed Recapitalisation: Catalyst for a $1 Trillion Economy?’, according to The Punch.

Chioke in introducing the higher bank capital requirements, stated that stronger and more stable banks were necessary to drive President Bola Tinubu’s estimated $1 trillion economy.

Chioke underlined that although the recapitalization program would improve banks’ ability to support the overall economy, expand their lending capabilities, draw in foreign capital, and encourage improved risk management, the banking industry cannot spur economic growth on its own.

“To achieve a $1tn economy, Nigeria needs to grow beyond the banking sector. Every aspect of the economy must grow alongside it,” he said.

He emphasized the necessity of human capital development, citing Mexico, Indonesia, and Turkey as examples, which have attained greater GDP per capita and human capital indices.

“Nigeria needs to invest in its people to achieve similar growth. We must prioritise human capital development to achieve a $1tn economy.

“The macroeconomic environment is challenging, with a potential national strike looming. However, the data is available to run the economy effectively, but politicians must pay attention to it and have the discipline to be humble,” he explained.

Meanwhile, the Acting Director of Financial Policy and Regulations, Mr John Onoja, who represented CBN Governor, Olayemi Cardoso insisted that the central bank was determined to reach the $1 trillion economic goal.

“We are glad that the present administration has set this target, and we are committed to supporting it,” he noted.

He pointed out that the CBN was collaborating with banks to review their capital plans and ensure a successful exercise, collaborating with institutions like the Nigeria Deposit Insurance Corporation, the Security and Exchange Commission, the Nigerian Exchange, and the National Assembly.

In his remark, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele also emphasized the need for competition, revenue growth, and budgetary competitiveness.

“Nigeria is a poor country with a budget of under $40bn, including supplementary budgets for all 36 states and 774 local governments. Our revenue is less than half of that amount,” Oyedele said, highlighting the urgency for reform.

Oyedele emphasized the significance of a healthy banking industry, a robust capital market, and uniform policies to attain a $1 trillion economy.

He said, “We can generate more revenue by optimising government assets, reforming government-owned enterprises like NNPC Limited, and exploiting solid minerals and natural resources.”

In addition, he supported removing taxes on capital, investment, production, poverty, and seeds in order to foster prosperity.


TAGGED:
Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

situs totoslot thailand situs totoslot gacor situs toto slot online situs toto demo slot gacor situs slot gacorsitus 4d situs totoslot gacorslot gacorslot gacorslot gacorslot gacor
slot gacor
slot gacor situs toto
togel online
toto 4d
situs slot slot demo pgslot 88
slot gacor slot gacor
slot gacor
brenjitu
situs toto
situs toto
SITUS TOTO
toto macau 4d
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot pulsa
hongkong lotto
slot gacor
slot gacor
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
situs totoslot gacordemo slot situs slot gacor
slot66
slot gacor
situs slot gacor
slot gacor
scatter hitam
scatter hitam
slot gacor scatter hitam
scatter hitam
situs slot gacor pulsa
situs baru slot gacor

Hacklinkgrandpashabet
grandpashabet
Deneme Bonusu Veren Siteler
Meritking
matadorbet güncel
nvi randevu
Hair Transplant istanbul
da pa kontrolü
casibom giriş
marsbahis
replika saat
eskişehir temizlik
sms onay
ankara nakliyat
ordu nakliyat
Vozol Puff
iqos terea
NORA
creative
Marketing
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu 2024
deneme bonusu veren siteler
deneme bonusu veren siteler
primebahis giriş
bahçelievler nakliyat
istanbul evden eve nakliyat
istanbul bahçelievler evden eve nakliyat
hair transplant
esenyurt escort
matbet üyelik
matbet anasayfa
ligobet girişfixbet girişSahabetligobet girişfixbet girişSahabet
?>

Hacklinkgrandpashabet
grandpashabet
Deneme Bonusu Veren Siteler
Meritking
matadorbet güncel
nvi randevu
Hair Transplant istanbul
da pa kontrolü
casibom giriş
marsbahis
replika saat
eskişehir temizlik
sms onay
ankara nakliyat
ordu nakliyat
Vozol Puff
iqos terea
NORA
creative
Marketing
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu 2024
deneme bonusu veren siteler
deneme bonusu veren siteler
primebahis giriş
bahçelievler nakliyat
istanbul evden eve nakliyat
istanbul bahçelievler evden eve nakliyat
hair transplant
esenyurt escort
matbet üyelik
matbet anasayfa
ligobet girişfixbet girişSahabetligobet girişfixbet girişSahabet
Hacklinkbetsat
betsat
betsat
holiganbet
holiganbet
holiganbet
Jojobet giriş
Jojobet giriş
Jojobet giriş
casibom giriş
casibom giriş
casibom giriş
xbet
xbet
xbet
grandpashabet
grandpashabet
grandpashabet
tuzla evden eve nakliyat
İzmir psikoloji
creative news
Digital marketing
radio kalasin
radinongkhai
gebze escort
grandpashabet
grandpashabet
casibom
casibom giriş
casibom güncel
jojobet
sultanbeyli çekici
matadorbet giriş
beylikdüzü escort
nvi randevu
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu siteleri
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
instagram followers buy
grandpashabet2197.com
casinolevant
stonebahis giriş
casibom güncel giriş
casibom giriş
matadorbet güncel giriş
Meritking
Meritking
kumar siteleri
casibom