The Board Chairman, Access Bank Plc, Ajoritsedere Awosika, has charged the three tiers of government to embrace fiscal discipline so as to curb policy summersaults in governance.

She said this in a presentation at the Annual National Management Conference of the Nigerian Institute of Management, which was made available to our correspondent in Abuja on Friday by the NIM.

Awosika, who spoke on measures required by Nigeria to effectively manage its economy and avoid another recession, urged the government to prepare the country to be able to withstand economic disruptions.

She said, “Embracing fiscal and financial discipline will be key going into the future as it will help us as a nation to drive up human development index – a key barometer for sustainable economic development.

“Adherence to these two disciplines will also go a long way in helping us avoid policy summersaults and usher in sustainable economic growth and development.”

She noted that sustainable growth was what would make the economy resilient to the vagaries of future recession.

The Access Bank chairman said the government must foster an enabling environment that would propel and accelerate private sector development and ensure proper economic growth.

“Government must deliberately enhance macroeconomic management to boost investors confidence, consistently implement right policies to stabilise, run and grow the economy,” Awosika stated.

She added, “Aggressive support of the SMEs cannot be overemphasised as they remain the engine of growth capable of reducing unemployment.”

On her part, the President and Chairman of Council, NIM, Patience Anabor, urged the government to make deliberate and sustainable efforts to diversify the economy.

She said, “Although successive Nigerian governments have at different times promised to diversify the economy, improve manufacturing/mining sectors, raise agricultural output, encourage foreign direct investment among others, there has not been any deliberate and sustained effort to pursue the strategic plan for growth to conclusive end.”

Anabor noted that diversifying the nation’s economy adequately would, among other things, help in preventing another economic recession.

She stated that beyond the recent COVID-19 pandemic induced recession, the Nigerian economy had experienced recession in the 1970s, 1980s and 1990s.

She, however, pointed out that for Nigeria to move forward, there must be a break from the past, stressing that the operating environment must be conducive and peaceful.