Nigeria lacks mental discipline to execute plans - Bismarck Rewane

Tuesday, October 01, 2019 at 1:56 PM by Onyirioha Nnamdi

- Bismarck Rewane, the managing director and chief executive officer of Financial Derivatives Company Limited, has said that Nigeria lack mental discipline to execute plans

- Rewane said that what Nigeria needs is not economic ideas, but discipline to execute the ones it already has

- The economic expert further said that the country's vulnerability has increased because it has not learned from the mistakes of its past

Nigeria lacks mental discipline to carryout strategies that will grow its economy. This was the position of Bismarck Rewane, the managing Director and Chief Executive Officer, Financial Derivatives Company Limited, on Tuesday, October 1.

Speaking at The Platform, a programme organised by the Covenant Christian Centre to mark Nigeria’s 59th Independence Day, Rewane said that in the Nigerian economy, there are more uncontrollable factors than those that can actually be controlled, Channels TV reports.

He went on to say that the country is not in need of economic ideas because it has a lot of them, but that what it lacks is the mental discipline for implementation.

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Rewane said: “Nigeria does not lack economic ideas but lacks the mental discipline to execute the plans.

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“What our economy needs is a mental discipline to learn from the mistakes of the past. Our vulnerability has increased because we have not learned from the mistakes of our past and that of other countries.

“What we have control over is our credibility and leadership. Social credibility over what we say is important because talk is cheap. Credibility does not come from what we say but what we do.”

Meanwhile, Legit.ng reported that the federal government through the National Microfinance Bank had announced a call to Small and Medium Enterprises (SMEs) across Nigeria to access the Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS).

Legit.ng revealed that AGSMEIS is an initiative to by the Banker’s Committee and the Central Bank of Nigeria to support the federal government's efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs).