The Chief Executive Officer Teriba and Associates,Dr Ayo Teriba has disclosed that Nigeria is suffering from fiscal “il-liquidity” hence its inability to effectively service its debt stock,forex,etc,even as the banking sector is also affected.
Dr Teriba spoke on the occasion of Cadbury Nigeria Alumni Association(CNAA) 2019 Christopher Kolade Lecture which was graced by Nigeria’s former High Commissioner to Australia,Ayo Olukanni,First Bank of Nigeria Chairman,Mrs Ebikun Awoshika,Cadbury’s CEO Oye Yinka Adeboye who was ably represented by the Human Resources Director,Mr T.P.Philips ,Wade Adediran,President of TICP etc.
According to him because of the above stated predicament and others 2020 would be difficult for Nigeria,saying the only hope is if diaspora forex remittances happens to be very good.
The guest Speaker,Mrs Awosika said Nigeria could be transformed developmentally through a bottom up or up-bottom approach,As she sees it if a citizens approach can move 10 million people out of poverty and keep them in the right direction via needed education the country would be transformed within 10 years.
Alternatively ,she said the emergence of a capable leader could achieve the same thing within a 10 year radius with radical action and the support of critical sections of the populace,saying that if this happens Nigerian will not recognise their country within the above stated time limit.
Some observers at the event contended with Dr Teriba’s position that the nation”s economy moderated under Mohammadu Buhari because of the fall in world commodity prices as a result of technological development.Even as Dr Teriba agreed that the nation economy performed creditably from President Olusegun Obasanjo to Goodluck Jonathan administration with Nigeria becoming the first economy in Africa for the first time in it’s history.
However for these observers the economy is performing woefully under Buhari because of his clannish political appointments,poor leadership capacity,failure to deal with lawless groups like Boko Haram and Fulani herdsmen.draconian tendencies etc.
Former Nigerian High Commissioner to Australia and President of NACCIMA Olukanni stated that Nigerians can make out good given that resilient nature and ability to survive anywhere in the world,saying that all his years as a diplomat he has seen Nigeria thrive in the most difficult of terrains. He therefore urge many a Nigerian labouring labouring under our corrupt system not to give up the fight in the overall benefit of the good people of Nigeria who will ultimately gain from their great sacrifice.
For Cadbury’s first indigenous Chairman,Chief Kolade Nigerians should not wait for government but should rather be the change they want to see happen in the country,saying that they should be in the vanguard of integrity which he said is of great import for us to survive as a nation.
He expressed wholesome hope that Nigeria will fulfil its destiny in the comity of nations despite the current fear for the contrary,saying that he has been assured that all would be well Nigeria our country.