Financial Expert Charges FG On Structural Imbalance

The Head, Research
Unit, Stanbic-IBTC Bank, Mr Rele Adesina, has urged the Federal Government to address the structural imbalance that has created bottlenecks that increased the cost of living in the country.
Adesina spoke at the bank’s recent forum for customers in Port Harcourt stressing that addressing the bottlenecks was key to the development of the Nigeria consumers.
He said consumers access to finance, though improving through the establishment of Bank of Industry (BOI) and other agencies, but such access still remains grossly inadequate.
The Banker said the country has enjoyed the second fastest growth over the year but still has the lowest disposable income among emerging markets of the world.
He stressed that consistent GDP growth of more than six per cent should be a positive indicator for the consumers, yet negative pressure on the consumers has been acknowledged.
He said government needs to ensure that structural imbalance is addressed to create equal opportunity to Nigerians to access finance thereby improving their living condition.
He posited that presently there is a persistent inequality of distribution and upward mobility of funds to the disadvantage of the consumers.

Philip Okaraji