By Peter Egwuatu

LAGOS—Former Head of State of Nigeria, General Yakubu Gowon (retd), yesterday, attributed the lack of continuous development plans by successive governments since 1980 to the country’s economic woes.

He also called for a united Nigeria rather than seeking restructuring, which might not be possible due to the diverse ethnic groups in the country.

Gowon

Gowon, who was conferred with first Honorary Fellowship of the Chartered Institute of Stockbrokers, CIS, said: “We missed opportunity of not carrying out development plan of 1975-1980 and that has been our problem towards enhancing our economic development.

‘’The successive governments have not been able to sustain the various economic development plans and this has led us to the present situation of lack of adequate infrastructure for economic development.”

In his speech at the opening ceremony of the 21st CIS Annual Conference in Lagos, President of the institute, Mr. Oluwaseyi Abe, said: “The conference coincides with the silver jubilee anniversary of our great institute and as a part of the landmark activities to mark its 25th anniversary as a professional body, the CIS Governing Council resolved to grant Honorary Fellowship Award of the institute to three former Heads of State and a quintessential business mogul all of who have made the highest contributions to the growth and development of the Nigerian capital market.

‘’They are, Generals Yakubu Gowon (retd), Olusegun Obasanjo (retd), Ibrahim  Babangida (retd) and Alhaji Aliko Dangote.”

Meanwhile, in his remark after being conferred with the Honorary Fellow, Gowon said: “I have carefully listened to the welcome address of the President of CIS . A few things immediately registered on my mind. First, is that CIS means business.

‘’Between 1992 when the institute received its charter and now, it has grown through the twists and turns of the business of life to make meaningful contributions to the growth and development of Nigeria’s economy.”

‘’The sum total of your efforts can be seen in the growing confidence in our economy, which can favourably compete with that of many in the Western world. That is patriotism.

“Secondly, the CIS is a keen recorder of history. On impulse, I had wondered about the reason for my invitation to this event, considering that I am not in the business of stocks and related activities.

‘’When I was told I had been selected as the first recipient of the Award of Honorary Fellow of the Institute, I asked: what for and for doing what? I was then reminded that the Nigerian Enterprises Promotion Decree, otherwise known as the Indigenisation Decree 1972, promulgated by my government was a catalyst that radically changed the landscape of the Nigerian capital market.

‘’Yes we wanted Nigerians to take command of their economy. I feel honoured and, on behalf of the government at the time and various individuals, dead or living, who worked with me on the initiative, I say a very big Thank You to you – CIS.

“In all of this, I have not failed to observe that members of CIS appear to have a very rich sense of humour. How can I miss out the fact that three of the recipients of today’s awards are old soldiers: His Excellencies, Olusegun Obasanjo, Ibrahim Badamasi Babangida and my humble self.

‘’I am not aware of any organisation that has successfully captured three generals and former Heads of State in one day, in one place and without firing a shot. All three and the fourth award recipient, Alhaji Aliko Dangote, a general in his own right, a general in the field of business, are also Grand Commanders of the Federal Republic, GCFR. I hope somebody would let out the secret of how the CIS did this.”