Stakeholders at the sixth edition of the annual Unveil, Review, Redefine & Relaunch (UR³) conference, have called for greater initiatives to strengthen economic resilience.
Speaking at the summit themed ‘Maintain Optimism, Visualise and Engage (MOVE),’ the founder of BMO Advisory Services, Bola Matel-Okoh, noted that there is urgent need for individuals, businesses, and governments to foster adaptability in response to the growing challenges in Nigeria economy.
Matel-Okoh said that while the country is striving toward resilience, much more needs to be done to help the populace adapt to economic shifts, adding that the government’s initiatives, such as the removal of the petrol subsidy, often fail to consider how the public can cope with such dramatic policy changes.
“We need to build resilience by helping people adapt to the circumstances. The government must understand that policies should be backed by plans to help citizens manage and survive these changes. In other countries, especially in the U.S., policies often come with safety nets that help people adjust. In Nigeria, we still have a long way to go in ensuring that every citizen feels they can survive the economic changes.”
According to her, the government’s lack of foresight in some policy decisions, like the fuel subsidy removal, could have been avoided through better planning and consideration for the people’s welfare.
The convener of the UR³ Resilience Summit, Stephanie Kadiri explained that the purpose of the summit is to help people navigate life’s challenges and disruptions with a sense of purpose and hope.
“Many people get stuck in adversity, not knowing there is more beyond it. Life comes with ups and downs, and we must rise above it, the aim is to help people thrive, to show that we can charge forward regardless of setbacks or disruptions. This year’s theme, MOVE, is about taking action, being optimistic, visualising a better future, and engaging in the present to make it happen.”
Kadiri, however, called for a collective effort in fostering resilience, urging individuals, businesses, and governments to work together in shaping a better, more adaptable future.
