The Chairman/Chief Executive Officer of King Solomon Capital Empire, an investment firm, Dr. Wilson Christson, speaks with ANNA OKON on Nigeria’s economic transformation and the role of agriculture
What are the challenges facing entrepreneurs in Nigeria?
The inability to have access to capital to expand their businesses is a major problem. Another key challenge I see is the exorbitant interest rate being charged by commercial banks. The banks need to be innovative in trying to assist entrepreneurs with a single-digit interest rate to make things much easier for them.
What should the government and the business community do to address the current economic recession?
To address the current economic recession in Nigeria and make the economy viable again, the federal and state governments must do everything constitutionally possible to destroy corruption because even if the economy is buoyant and there is still corruption, we will go back into recession again. So, it is important we tackle corruption at all levels so that people will no longer convert the nation’s commonwealth into their private accounts and leave the youths of the country and other underprivileged Nigerians in poverty.
Additionally, we also need to diversify the economy, because as long as the remains reliant on petroleum export, we will continue to experience challenges when oil prices fall in the international market. The government must invest heavily in agriculture so that we can harness the huge resources in the sector.
Furthermore, we have to balance things up in terms of our foreign reserves and that will happen if we diversify the economy and go back to agriculture, and take a more serious look at the mineral resources sector.
What should government do with the looted funds?
I am of the opinion that the Federal Government needs to launch a non-partisan recovered loots management committee that will thoroughly look into how looted funds should be spent. In the committee, there should be accountability of all recovered stolen money so that it can be used to develop the society, create employment opportunities and curb crimes in the society.
How can the government encourage the youths to go into agriculture?
Agriculture is one sector that can really turn things around in this country but the government seems to be paying only lip service to it. The government can create a new awareness about the potential of this sector and its diverse opportunities. There should be a re-orientation programme where youths will be taught to see agriculture as business that can create agro-billionaires.
We must let the young ones know that if they go into agriculture, they can become as rich as Alhaji Aliko Dangote and other billionaires in the world.
What has been the impact of King Solomon Capital Empire on the business community?
It has been a lot within its covers but our ultimate goal really is to be able to influence the society when it comes to capital provision, and as a premium alternative funding company, to bring a lot of awareness to ways investors can make more money.
How can investors benefit from the organisation?
They can benefit from a range of services that we provide such as project funding, high yield investment programmes, monetisation of instruments, financial instruments’ acquisition, certified financial training, commodities’ trading, financial consultancy and trade finance. We are the premier global project funders, offshore banking service provider and financial instruments provider.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
The post Government must invest heavily in agriculture – Christson appeared first on Punch Newspapers.