Business
COVID-19: Heritage Bank boss, Sekibo suggests ways to revamp Nigeria’s economy
In light of the sharp dwindling in the global economy occasioned by Covid-19 pandemic, the MD/CEO of Heritage Bank Plc, Ifie Sekibo has suggested ways the nation’s economy could be revamped for sustainable growth.
He disclosed that with partnership, truth, character and rigorous commitment to businesses, the micro, small and medium enterprises (MSMEs) stand to revamp the nation’s economy for sustainable growth.
He also stated that evidences have shown that for SMEs to continue to survive and remain the bedrock of any vibrant economy, the players must continuously reinvent themselves, complement each other, dream big, possess cutting edge ideas and think and rethink before venturing into businesses.
Speaking during a recent webinar session, a virtual conference platform at the Upgrade Summit 2020, on the theme, “Converting Ideas into Reality with Focus on SME’s” Sekibo emphasized the need for SMEs to look inward, learn and relearn, possess the spirit of self-sacrifice and believe, whilst advising that they must be bold and should not be afraid to fail because failing is not a failure and should not give up because they had failed.
Read also: Nigerian economy needs about N10.1trn stimulus to recover from COVID-19 –NESG
According to him, most entrepreneurs burn with ideas but they need to mine them so that they could blossom, remarking that they need to have mentors that will enable them achieve their goals and sell the ideas.
“Among small and medium-sized enterprises (SMEs) in Nigeria, there has been too much of an individual focus, rather than a holistic or intergenerational focus. There is not enough focus on partnership among Nigerian SMEs and this causes ventures to fail,” Sekibo stated.
Meanwhile, he reiterated that more needed to be done in the area of empowering entrepreneurship sector by the government and financial institutions because it is an agent of development.
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