The Institute of Directors in Nigeria (IoD) has identified corruption, policy inconsistency and lack of trust as stumbling blocks to several government policies on economic diversification.
According to members of the institute such policy somersault has made successive governments discontinue programs originally aimed at diversifying the economy by their predecessors.
The directors, who spoke at a conference in Abuja, also argue that investors have been discouraged by such policy inconsistencies.
Participants at the conference brainstormed on how Nigeria can diversify the economy by investing in petrochemicals, agriculture, solid minerals and manufacturing.
Former Head of State, General Yakubu Gowon, on his part, explained why the discussion at the gathering is apt at this moment.
Meanwhile, other participants at the conference argued that policy inconsistency, corruption and selfish interest of a few individuals is the bane of economic diversification policies in Nigeria.
