Wealth creation low in Nigeria

The Managing Director, Meristem Wealth Management Limited, Mr. Sulaiman Adedokun, has said that sustaining wealth in the country has become a rising problem because of low wealth creation activities.Adedokun said at a seminar organised by Meristem, titled, Sustaining Wealth Beyond a Generation, that on the contrary, global wealth had risen by 72 per cent since 2000.He said, When you talk about wealth creation, it is not something that is still here. Nigeria can only sustain wealth when you invest in human capital. Human capital is a veritable means of wealth sustenance. The issue is not just developing wealth, what about the human capital' What is the fate of education' What happens to the skill people are building' What happens to the enabling environment to ensure that people are ready to actually work, earn something and be able to develop themselves, so that the wealth of the country can be sustained.The Meristem boss pointed out that one of the assets producing wealth was human capital and as a nation that was the best means of sustaining wealth formation.In Kuwait, they have the same oil as well but they have a lot of investment. In investment, you must learn to grow the asset that is producing wealth, if you cannot grow the asset that produces wealth, then it is very difficult to sustain wealth. Also, before you must invest, you must create an enabling environment to ensure that human capital is well developed, he added.Adedokun further said that foreign direct investment could help create and sustain wealth if channelled properly.FDI is very good for any nation like Nigeria that needs a lot of capital development, but it has to be channelled properly. Also, diversification is a better way of sustaining wealth. To build wealth you will ensure concentration, but to sustain it there must be diversification, he said.
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