SBL Conference: Panel Examines Role of Private Sector in an Emerging Economy
In a world brimming with ideological arguments over which model of economic management (and social engineering) is best suited to the needs of the vast majority of the people (especially in a polity characterized with such wide income disparities and access to many modern amenities such as Nigeria) it is always necessary to examine, from time to time, how well the chosen model – or combination thereof – is helping reach the desired goals. The discussion of the opening session of panel discussions on the role of the private sector in the development of the country’s economy was well-timed – especially coming just a day after the assertion by the former presidential candidate Prof. Kingsley Moghalu (at this very forum) that nobody knows exactly what economic model Nigeria was adopting: capitalist, socialist, etc.
Chaired by Jumoke Lambo, a partner at the law firm of Udo-Udoma & Bello-Osagie, the session featured a panel comprising the Managing Director of Verod Capital Management, Danladi Verheijen; Ijeaoma Agboti-Obatoyinbo, the Managing Director of FBN’s Quest Funds; Frank Aigbogun, the CEO of BusinessDay Media Ltd.; and Deji Adegoke, an associate with the firm of White & Case. The panel interrogated the oft-repeated notion that government ‘has no business in business,’ the prevalence and meaning of such catch-phrases as ‘the private sector-led economy,’ and so forth. They also explored the most effective mechanisms for leveraging private sector intellectual capital, as well as the merits of public-private partnerships in ensuring desired outcomes.
At the end of it all, it was agreed that none of the ideas being put forth would make any sense without bridging the infrastructure gap – beginning with power, but also including transportation and telecommunications, all of which are compatible with the coming data-driven economy of the 21st century. Also, it was agreed that the country’s ease-of-doing-business profile would have to improve drastically, not in order to ascend some global-ranking ladder, but to attract the right kind of investment (and the right kind of capital) in key sectors by both local and foreign players. Corruption has to be tackled with as much vigour and sense of purpose as possible, and the regulatory framework has to be a stimulant (rather than a depressant) to sustainable growth.
Summarizing the proceedings, the moderator, Mrs. Lambo, expressed confidence in the ability of Nigerians – most of all, lawyers – the country’s narrative can and will change. Nigerians, she said, must on one hand, try to force the hand of (a sometimes reluctant) government to facilitate such change – but on the other hand, must not wait for government all the time.
See photos:
Newswire, we present the world of law and the issues that engage them. This edition is yet again, ‘Mind-blowing’. Go get your copy(ies) Now!
Do you need to be heard? Or your articles published? Send your views, messages, articles or press release to: newswiremagazine@yahoo.co.uk >>> We can cover your (LAW) events at the first Call: 08039218044, 08024004726
-Advertisement-
Grab our latest Magazine, "Chief Wole Olanipekun, CFR, SAN, A man of wide horizons and deep intentions". Get your order fast and stress free.
For more details about Newswire Law&Events Magazine, kindly reach out to us on 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk. You will be glad you did
