The Managing Director and Chief Executive Officer, Wema Bank Plc, Mr Segun Oloketuyi has urged Nigerians to focus in the positive aspects of the current economic recession.
He told newsmen in Akure that Nigeria had a lot of untapped potentials which should be focused on instead of the negative aspects of the recession.
“There is a lot of potentials available in Nigeria. As a country with a population of 180 million, we have a large expanse of arable land that we are not cultivating.
“I think  the recession has actually instructed that we look inwards to see how much of those things imported we can do ourselves locally.
“What that does is not just conserving the scarce foreign exchange, but also creates a lot of employment for our people.
“A lot of our youths today are roaming the streets without anything to do, but I think we need a lot of encouragement and support from banks like ours to make facilities available at affordable rates”, he said.
The Managing Director said further that people should be encouraged to go to farms as a positive side of the recession, and also as a plus to the nation.
“There are positive indications that the recession will soon wind up because the inflation rate has reduced, while the rates in the parallel foreign exchange markets have also reduced.
“If the turn of events is sustained, then it is a matter of time for the recession to end. Projections by government analysts also indicate that Nigeria will get out of it this year.
“If we put a lot into the economy by way of spending, we can spend our way out of this recession”, he said.
Olokentuyi explained that the bank’s major areas of partnership with the Ondo State Government would include creating employment through agriculture and providing infrastructure.
“We have a very viable agriculture desk and intervention funds that we can assist the state to access.
“So we can help them to fund what is needed to be done and help the state generate employment for the youth”, he said.