Fashola advocates change in attitude to achieve diversification


Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN in a group photograph with the Director General of the Nigerian Pension Commission, Mrs Chinelo Anohu-Amazu (2nd right; sitting) , the Chairman of PenOp , Mr Eguarekhide Longe (left; sitting), other industry leaders and management of PENCOM shortly after delivering his Keynote address at the Nigerian Pension Industry Strategy Leadership Retreat organized by the National Pension Commission(PENCOM), at the Transcorp Hilton, Abuja on Friday, 22nd January 2016.
The Minister of Works, Power and Housing, Mr. Babatunde Fashola, at the weekend advocated the adoption of a collective national attitude that would make it possible to invest the over N5 trillion fund constituting the contributions of the nation’s working class into real sectors as a means of diversifying the nation’s economy and achieving inclusive growth.
Fashola, who spoke in Abuja while delivering a Keynote address at the Nigerian Pension Industry Strategy Implementation Roadmap Retreat, said with the dwindling revenue from the country’s major source of income, the crude oil, there was dire need to diversify and change the face of the nation’s economy once and for all.
In his keynote address titled “Overcoming the Challenges and Managing the Risks and Constraints that Inhibit the Investment of Private Capital and Funds in Nigeria’s Infrastructure Landscape in Order to Make a Visible Economic Impact”, Fashola noted that with the right attitude to diversification utilizing the huge fund representing the contribution of Nigeria’s working class Pension it could be shown that the national economy is bigger than the challenges posed by the dwindling oil prices.
The Minister, who noted that the country failed to utilize the oil boom period to diversify the economy, declared, “Today’s reality is that we are in another cycle of burst. Oil prices have crashed from over $100 per barrel and …Read More

Source:: PM Newspaper