The Chartered Institute of Bankers of Nigeria (CIBN), Lagos State Branch, has said that there is a need for the nation’s economic managers to apply macroeconomic drivers as a way of getting the country out of its current economic challenges.
The institute said the nation’s external reserves could appreciate considerably if it encouraged local production and export, just as it advised the Federal Government to fix the power crisis to stimulate growth and expansion.
The Chairman, CIBN, Lagos State Branch, Mrs. Taiwo Ige, disclose this in Lagos, while announcing the institute’s annual ‘Lagos Bankers’ Nite.’
According to the group, the annual event, tagged, ‘Repowering Nigerian economy: the strategic imperatives’, affords financial experts the opportunity to analyse the country’s economic challenges and proffer solutions.
The event attracts key players in the financial services industry and other sectors of the economy.
Ige said resuscitating the ailing economy required sound economic strategies that would put the country back on the growth path.
She said, “There is a need to put economic strategies in place to prosecute successfully the ailing Nigerian economy so that it does not get worse than we are presently experiencing. We need a pragmatic approach to the economic realities we have found ourselves. We need to look inward.