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Focus on upgrading existing projects, Gowon, Asiodu tell government


Yakubu Gowon

Fomer Head of State, Gen. Yakubu Gowon has stressed the need for government to adopt a strategic economic planning approach that would focus on upgrading and modifying existing projects, rather than abandoning it for new schemes.

Besides, a former Permanent Secretary, Phillip Asiodu, maintained that Nigeria would have been at par or ahead of the Asian tigers and consequently escaped poverty, if the country had continued with the 1975-1980 indigenisation plan.

They spoke during the 21st yearly stockbrokers conference held in Lagos yesterday. Also, in apparent recognition of their contributions to the growth and development of the Capital Market, the Chartered Institute of Stockbrokers (CIS), has approved conferment of its first Honourary Fellowship on Yakubu Gowon, Chief Olusegun Obasanjo, Gen. Ibrahim Babangida and Alhaji Aliko Dangote.


Of the four awardees, only Gowon was conferred with the award yesterday. Gowon argued that Nigeria would continue to miss opportunities if government fails to build on what has been done before, no matter the difference in ideology.

He said: “We have advised them that they should really go back to thinking of economic planning and starting from today to continue for the future. Irrespective of which party is in charge, they should always continue to build or upgrade what have been done before, rather than abandoning it because of difference in ideology or whatever.’’

Asiodu insisted that Nigerians are yet to recover from the massive disruption of confidence that followed the second indigenisation policy due to failure to put into cognizance the already existing plans.

“In the first indigenisation plan, people who sold their properties, their companies, their shares were able to get their money, in accordance to the status of investment.’’but the second one, three years, four years, you sold your company, you got the money, you could not transfer it, it was getting loss.

“Nigerians are yet to recover from that massive disruption of confidence. We hope that this present set of people will not lose the opportunity because if we had continued with the 1975 -1980 plan and subsequent plans, we would have been at pars or ahead of the Asian tigers and Nigeria would have escaped poverty.’’

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Yakubu Gowon
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