‘Poor Infrastructure May Hinder 2020 Dream’

Poor infrastructural development may hinder Nigeria’s plan of being one of the 20 notable economies by 2020, Dr Biodun Adedipe, Principal Partner of Biodun Adedipe and Company, has said.

Adedipe said the 2020 economic policy directive of government had remained a mirage because of the absence of N79.5 trillion needed to meet infrastructural needs.

Adedipe made the remarks at a one-day training workshop for capital market correspondents on Tuesday in Lagos.

He spoke on: “Capital Market as a Subset of the Economy”.

Adedipe said that the dream lacked visible and physical commitment by government

According to him, the infrastructural demands of the economy must also be complemented with a holistic overhaul of the nation’s financial district.

Adedipe said that overhaul of the financial industry must be reflected in regulatory approach, intervention in the economy and proactive safety nets for depositors and investors’ assets.

He said that other areas that needed serious attentions were the democratisation and availability of credit market for investors.

Reports say that while Adedipe lauded the 2020 economic policy, he bemoaned poor articulation and coordinated planning in sustaining and meeting the policy objective.

Adedipe, who also compared the policy instrument with the former 2010 economic policy, argued that government’s approach toward achieving the objective was dangerously following previous moribund economic instruments.

Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyiuke  said that the essence of the workshop was to acquaint journalists with contemporary national and global economic issues.    

Okereke-Onyiuke, who was represented by the Managing Director of the Central Securities Clearing System, Dr Onyewuchi Asinobi, said that the dynamics of the market made the training imperative.