Daily Independent (Lagos)
Oladunjoye Phillip
3 July 2009
Lagos — Former Deputy Governor of Lagos State, Femi Pedro, has urged Nigerians who have the ambition of creating wealth in this era of global financial crisis to seek required financial knowledge and skills.
Pedro made this call while presenting a paper titled "The Global Financial Crisis: Wealth Creation and Management", at the 2nd meeting of the Grace Business Club (GBC), aimed at empowering Nigerians in capacity building for wealth creation and management.
According to him, the global financial crisis is like a virus and has spread all over the globe, while many of the world's major financial institution are either collapsed or on the verge of collapsing, adding that even the Nigerian Stock Exchange has been infected by this virus, bemoaning that the situation might get worse.
He described wealth creation and management as a cure to the global financial crisis, advising that every Nigerians should look at assets that will yield income rather than putting money on asset that is income gulping liabilities.
"Most Nigerians are financially illiterates because they lack the skills and knowledge of what money is and how to turn it into wealth. Because they lack the financial knowledge; when opportunity of a life time comes, they are unable to see it," he stressed.
Pedro also advised that Nigerians could reposition themselves to face the financial challenges by developing a saving habit; managing the way they spend as well as making appropriate budget on their earnings.
"To make money, you must earn it, to create wealth, we must acquire assets," he reiterated.
The Executive Coordinator of Grace Business Club, Nonye Nzodike, said the club is an exclusive business networking club that provides individuals with the opportunity to network with fellow members, with the aim of stimulating, motivating and educating themselves.
He said the club is set out to empower individuals that will change the course of this country and beyond positively. "Our interest at Grace Business Club is to empower Nigerians to prosper by accessing the wealth of the nations for the advancement of the kingdom of God," she stated.
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