Financial experts, policymakers and business leaders have called for a rethink of how capital is deployed in Nigeria, urging a shift from extractive capital to productive investment to drive sustainable economic growth, create jobs and build long-term wealth in Nigeria.
The call was made at an executive intelligence forum themed “Beyond Interest: Capital, Innovation, and the Future of Wealth,” organised by The Alternative Bank, Lagos.
Muhtar Bakare, chairman of The Alternative Bank said Nigeria’s economic future depends on redirecting capital into enterprises and assets that generate lasting value rather than merely extracting profits.
According to him, extractive capital focuses on harvesting value from the economy with little long-term benefit, while productive capital strengthens businesses, creates employment, expands supply chains, increases government revenue and delivers sustainable returns for investors.
“Extractive capital treats the economy chiefly as a place from which value is harvested. It may reward its owner, but it rarely leaves the economy stronger,” Bakare said.
