Business National Budgets Cannot Diversify Nigeria's Economy- Tony Elumelu

[LequteMan]

Tony Elumelu, former Chairman of United Bank for Africa (UBA), has stated that Nigeria's 2016 had little or nothing to do with effective diversification of the economy.

"We should stop talking of budget in the bid to diversify the economy," Tony Elumelu said recently.

“The way to go is to create the enabling environment that would unleash the entrepreneurship in all of us.

“If a man who is interested in fishing for instance, has access to finance, conducive environment to register the business immediately, and tax duplication is avoided, he will be able to employ people.”

He said that if Nigerians were encouraged to establish micro businesses, there would be improvement in national productivity and less dependence on oil.

 

[Efua Gbadamosi]

Excellent! I could not agree more with this respectable Banking Colossus, he is definitely in touch with reality and the market space. We unleash entrepreneurship where we are spurred by survival examples... currently Entrepreneurs and let me add Intrapreneurs (those with paid employments and and also running a business by the side) are struggling to survive. Do not give us fish like subsidized dollars, fuel subsidy, N5,000 handout to unemployed youths per month etc, give us what (infrastructures) we cannot economically and efficiently produce for ourselves, give us constant electricity, road, transport, security, corrupt free judiciary etc and you will see genuine spike in the income and standard of living of Nigerians. Nigerians are not lazy we are dogged, highly adaptive and survivors, it is unfortunate that these novel and noble qualities are also our ill, making us adapt to unthinkable economic burden thrust at us at will!

 

[LequteMan]

Excellent! I could not agree more with this respectable Banking Colossus, he is definitely in touch with reality and the market space. We unleash entrepreneurship where we are spurred by survival examples... currently Entrepreneurs and let me add Intrapreneurs (those with paid employments and and also running a business by the side) are struggling to survive. Do not give us fish like subsidized dollars, fuel subsidy, N5,000 handout to unemployed youths per month etc, give us what (infrastructures) we cannot economically and efficiently produce for ourselves, give us constant electricity, road, transport, security, corrupt free judiciary etc and you will see genuine spike in the income and standard of living of Nigerians. Nigerians are not lazy we are dogged, highly adaptive and survivors, it is unfortunate that these novel and noble qualities are also our ill, making us adapt to unthinkable economic burden thrust at us at will!

This. is. the. Gospel. Truth.