‘Nigeria’s economy rigged into the hands of a handful of people’ — Atedo Peterside

Founder of StanbicIBTC Bank, Atedo Peterside, has bemoaned the state of the nation’s economy, claiming that over time, the country’s economy has been rigged into the hands of a few individuals, who manage and determine its outflow to the common man.

Atedo, who was the ‘Chairman of the Occasion’ at the ‘Vanguard Economic Discourse, yesterday, noted that while other countries continue to grow, Nigeria’s economy remained stagnant.

He said: “We need to sort out many things. As long as we allow a handful of people to rig the economy to their hands, we have nothing left, and that is bad for our country.

“In Rwanda and Senegal, things are level, but in Nigeria, it is not the case”

“One thing we must get right before we start talking about growing the Nigerian economy is giving investors a level-playing field”, he emphasised.

Nigeria’s economy entered a recession in 2020, reversing three years of recovery, due to a fall in crude oil prices on account of falling global demand and containment measures to fight the spread of the Covid–19 pandemic.

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