The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, is of the opinion that Nigeria lacks the mental discipline to execute plans for the growth of the economy. Mr. Rewane stated this on Tuesday while speaking at The Platform, a programme by the Covenant Christian Centre to mark Nigeria’s 59th Independence Day.
He said, “Nigeria does not lack economic ideas but lacks the mental discipline to execute the plans. “What our economy needs is a mental discipline to learn from the mistakes of the past. Our vulnerability has increased because we have not learned from the mistakes of our past and that of other countries”.
Mr Rewane who was speaking with the theme, ‘Re-designing The Nigerian Economy With New Ideas’, explained that in the Nigerian economy, the things outside our control are more than things within our control. “When the institutions of conflict resolution are broken, the alternative to what you have is anarchy. “The social contract between the rulers and the ruled is very important as its so cheap to just talk than to act.
“What we have control over is our credibility and leadership. Social credibility over what we say is important because talk is cheap. Credibility does not come from what we say but what we do”. He further stated Nigeria’s economy can only get better with intellectual honesty and mental discipline. “You cannot buy intellectual honesty. “The mental discipline is more important than physical discipline. The thought process that goes into conceptualising and executing a plan is very important. According to him, Nigerians are tired of being told one thing and then seeing another. “If what you see is different from what you feel, then there is a problem of credibility”.