The Northlink Insurance Brokers Plc, NIBP, has identified scarcity of liquidity and inflation as some of the challenges plaguing the smooth flow of economic activities in the country.
Chairman NIBP, Dr. Evans Woherem, stated this at the company’s 12th Annual General Meeting, AGM in Abuja. Woherem however expressed optimism in the Tinubu-led administration to tackle the challenges facing the business and economic sector.
He said, “It is a fact that there is scarcity of liquidity within the economy, almost everybody is complaining. As a result of the removal of fuel subsidy, that has also increased inflation in the country almost every other industry and marketers have increased the price of what they sell.
“So a lot of people now find themselves with less disposable income, that is one of the things that’s affecting us. We have a new government, we believe they will work harder to ensure that at the end of the day things will begin to improve.
“If the government ensures that inflation is reduced to a minimal level and there is a general sense of wellbeing and happiness is instilled in our people, definitely people will be able to do more, the economy will improve and business will also begin to do
Meanwhile, the company has approved the payment of 15 kobo per share as its dividends during its AGM.
Woherem said, “We approved the accounts for 2022 and we also approved the payment of 15 kobo per share as dividends.It is not the type of dividend we would have expected, we would have even expected to pay a lot more but given the type of economy we are experiencing in our country any payment is just welcome.
15 kobo per share is going to go a long way to make shareholders know that their company is working to make them happy.”