Doyin Salami: Nigeria Needs Incentivised Private Capital to Sustain Growth

Chief Economic Adviser to former President Muhammadu Buhari, and Associate Professor, Lagos Business School, Adedoyin Salami, has said that against the backdrop of sweeping economic reforms, Nigeria requires incentivised capital investments to sustain long-term growth. Salami made the submission at The Quorum, an investor forum hosted by Anchoria which brought together investors, business leaders, policy stakeholders, and market practitioners to examine the forces shaping the financial services sector and opportunities ahead, which held in Lagos. In his keynote address titled: “Positioning for Growth: Investment Opportunities in a Changing Market” he explained that with reforms shrinking fiscal space, sustaining economic growth lies in attracting and retaining incentivised capital. “What will drive growth in Nigeria is whether Nigeria quickly recognises the imperative of private capital and moves to encourage private capital into Nigeria. Private capital has to be incentivised into the marketplace. Private capital, whether domestic or international has a price for coming to the table,” he said. He added that for private capital to achieve the required economic impact, a regulatory environment which prioritises security, law and order and a population educated enough to spot opportunities before they become obvious is essential. “If we are going to position for growth as an economy, it’s also going to be about a regulatory environment that works a very fine line between the imperatives of private capital and the interests of citizens, security of our borders, our national sovereignty, law and order. Nigerians must also be able to see opportunity.” According to Anchoria’s Group Managing Director, Sam Chidoka, through The Quorum, Anchoria hopes to expand Nigeria’s investor demographic through investment knowledge sharing, broaden market capture while deepening market resilience. “We have created The Quorum as a platform where ideas can cross fertilise, investors can discuss what the next big thing that is and know what’s happening in the economy. We want people to take away actionable points and network,” he said. In her remarks, Lead, Anchoria Asset Management, Esther Ugwu, stated the knowledge sharing series stands as an imperative in a rapidly changing economic landscape. “We believe that meaningful investment outcomes are rarely achieved by chance. They are achieved by informed decisions, disciplined thinking, and an ability to understand change before it becomes obvious. That conviction is what inspired The Quorum,” she said.