SEBIS expresses displeasure over economic downturn in South East
The South East Business and Investment Summit Group (SEBIS) has expressed displeasure over the economic downturn in the region, stressing that it is time to revitalise economic development opportunities in the South-East.
Speaking to the press during a media engagement in Abuja, the Executive Secretary of SEBIS, Dr Ifedi Okwenna, flanked by other executives of the group, suggested measures that could be taken to revive the region’s economy, particularly in the area of capital investment.
According to Okwenna, the people of the South-East possess both human and material capital, but this capital is no longer fully working for them, as many now find it more attractive to invest in other parts of the country where they perceive the environment to be more enabling, and skills better developed.
He also explained that “Low business and technological innovations, low capital inflow, and the absence of institutions are increasingly contributing to the outflow of businesses, investments, and wealth from the South-East, Nigeria.”
The current situation, he argued, should not be allowed to continue, especially when the region is endowed with enterprising, knowledgeable, and creative people who can be harnessed for the benefit of the region.
To this end, SEBIS announced plans to organise its next event as a pioneering and credible solution for driving and promoting business, investment, and development in the region. The Secretary also hinted that they would be inviting experts in economics and investment from various parts of the world.