‘ Sigma Pensions Limited paid retirees N89bn benefits in 13 years’

Sigma Pension CEO harps on increased private, public sectors collaboration

“Sigma Pension CEO” The Managing Director, Sigma Pensions, Mr. Dave Uduanu, has called for more collaboration between the private and public sectors to enhance economic growth and development and to meet growth targets slated in the Economic and Growth Recovery Plan (ERGP) document.

Uduanu also called on government to do more in creating sustainable investment opportunities for the private sector to invest in.

He said this at the Rand Merchant Bank’s 5th anniversary held recently in Lagos.

Speaking on the side-lines, Uduanu said: “The key is for the private sector to engage more with the government and the private sector should do more as well as investment banks and intermediaries to prepare projects that investors such as insurance and pension funds can invest in.”

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Sigma Pension CEO harps on increased private, public sectors collaboration
Sigma Pension CEO harps on increased private, public sectors collaboration

When asked if pension’s funds would invest in infrastructure development, he said: “The pension funds are looking at forming a consortium to look at such investments because those are large-scale investments and such investments are usually beyond one pension fund. So we can work with some of the development finance institutions (DFI) to help prepare, teach, support and organise these investments and then bring them to the market; essentially to make them investable.”

He added that with the ERGP in place, engaging the private sector to support funding in infrastructure needs prompt actions to be taken in order to meet its growth plan as stated in the programme’s document.

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Uduanu also said: “The Economic Growth and Recovery Plan envisages increasing the government’s revenue from 6 percent to 15 percent in five years. Though that seems to me that they are in a hurry. So in terms of timeline, these are things that need to happen now. So if you look at tax breaks, government can begin to do it now. But increasing the revenue of government, essentially, government needs to improve tax administration,” he said.

(Daily Trust)