28th August, 2010
President Goodluck Jonathan has revealed that the board of the newly constituted Asset Management Corporation of Nigeria (AMCON) will be inaugurated this Monday to pave way for the commencement of operations by the organisation.
President Jonathan stated this today during a special presidential audience with Bank CEOs and other key players in the nationâ€
According to him, apart from Governmentâ€
The President said the nationâ€
He linked this enhanced economic performance to sustained growth in the non-oil sectors and improvement in oil production, adding that the country can achieve sustained double-digit growth as a result. He called for coordinated efforts between the public and private sectors towards a buoyant economy, as “there is no better opportunity than now to deploy our rich potentials and put the real sector, financial and capital markets on a sound footing.â€
President Jonathan said in spite of the resilience of the nationâ€
He listed the present administrationâ€
Minister of Finance, Dr. Olusegun Aganga said the event is part of the regular consultation by Government with stakeholder in the Nationâ€
His comments opened the floor for contributions by the financial actors. The World Bank representative at the event, Mr Ismail Radwa commended the Federal Government for the banking reform initiated in 2009 which he said has brought about confidence in the sector.
He said their recent assessment of the banking sector showed that there is no huge credit risk and there a lot of liquidity in the system.
Radwa, however, called for a synergy in the credit system among bank and that measures should be put in place to check stock management manipulation.
President, Manufacturing Association of Nigeria, Chief Kola Jamodu called for concerted efforts by Government to make basic infrastructure work and to address the problems of insecurity, terrorism and kidnapping.
He noted that it costs a local manufacturer in Nigeria 40 per cent more to produce compared to other countries even in Africa.
Jamodu also urged Government to fast track the passage of anti-terrorism and anti money laundering Acts pending before the National Assembly.
Business mogul, Aliko Dangote, stressed the need to give priority attention to agriculture, small and medium scale enterprises as well as building of more Ports to ease the congestion in Lagos port.
He remarked that the last Port built by the government was in 1978 in spite of the growing activities in the maritime sector.
Former President of Nigeria Stock Exchange, Oba Otudeko, advised government to place emphasis on cooperative societies at the local level to encourage farming.
Otudeko also said that more Nigerians should be given the opportunity to invest in the telecommunication and oil sector to promote national interest.