The Nigerian government should look for other funding sources as China may not be able to meet all our loan requirements,” Ubi said. “The debt trap issue is not coming from China because the country only accounts for $3.1 billion external loans from almost $30 billion Nigeria owes its creditors. He urged the government to explore other sources for developmental loans as China alone could not fulfil all Nigeria’s funding needs. Ubi, acting director of NIIA, said Nigeria’s debt obligations to China was only $3.1 billion, noting that there was too much misconception about China’s loans to the country. He said Nigerian entrepreneurs should invest more in the export of semi-processed goods and agric produce to China, which is one of the largest markets in the world. He also itemised other areas the relations between Nigeria and China could expand including the Nigeria-China GDP Strategy, as well as interventions in infrastructure, ICT, economic and military cooperation.Įmphasising the importance of Nigeria-China bilateral trade, Sogunle, CEO of Stanbic IBTC Holdings, said China accounts for 25 percent of Nigeria’s foreign trade. We support the export of more products from Nigeria to China because the relations that the two countries have are both economic and political,” he said at the forum, tagged ‘Managing into the Future: Unlocking the Power of the Platform Economy’. We are looking to get Chinese banks into Nigeria to facilitate transactions if the Central Bank of Nigeria is ready. “Trade between Nigeria and other African countries has grown tremendously. Jianchun, the Chinese ambassador, said Africa is of interest to China. Others include Peter Adeshola Olowononi, head, client relations, African Export-Import Bank Tosin Sorinola, director of artist and media relations, Boomplay Massimiliano Spalazzi, CEO, Jumia Nigeria Lamide Akinola, head of Q-Commerce Africa, Glovo Bolaji Olusanya, country manager, Tek Experts Muhammed Bello Abubakar, CEO, Galaxy Backbone Seun Oni, GMD, AG Leventis and Wole Ayodele, founder of Fincra.Ĭusumano was the headline speaker while Jeffrey Sachs, a world renowned economics professor, was a keynote panellist.įrank Aigbogun, publisher and CEO of BusinessDay, in his welcome address, said: “Nigeria’s fintech sector keeps attracting funding and global attention is a confirmation that the private sector has the potential to rescue the Nigerian economy.” This year’s edition of the CEO Forum was attended by Cui Jianchun, Chinese Ambassador to Nigeria Ben Llewellyn, British Deputy High Commissioner in Nigeria Demola Sogunle, CEO, Stanbic IBTC Holdings Efem Ubi, acting director, Nigerian Institute of International Affairs (NIIA), and Kari Tukur, vice president, cluster head, customer solutions, Indian Ocean Island, East and West Africa, Mastercard. The innovation platform, according to him, is when technology becomes the core to solve an industry need, while the transaction platform is when service becomes the core to solve an industry need. He said user interactions and complementary innovations would not occur, or not occur so easily, without the platform.Īccording to him, platforms, which are still lacking in many African countries, have the potential to bring together two or more key market participants, generate value from “network effects”, create value and get network effects started.Ĭusumano said major platforms that would be needed include innovation and transaction platforms.
Michael Cusumano, a distinguished professor of management and deputy dean at MIT Sloan School of Management, said an industry platform is a “foundation product or service that many people and organisations can use to exchange information and goods or to sell ‘complementary’ products and services”.
0 kommentar(er)
