- Experts say Nigeria urgently needs a turnaround in policy making and economic management to achieve better socio-economic outcomes
- As a result, there are no better Time than now for the country to make good decisions that offer short- and long-term solutions to our challenges
- Against this backdrop, the NESG is planning a National Economic Dialogue on how the social threat can best be addressed
Lagos – The Nigerian Economic Summit Group (NESG) has announced that they will hold a national economic dialogue to identify possible solutions to Nigeria’s myriad socio-economic problems.
Challenges include weak and non-inclusive macroeconomic economic growth, instability, infrastructure deficit, human capital valley deficit and skills gap, national insecurity and weak economic competitiveness.
Experts say that the national economic dialogue on the state of the Nigerian economy is crucial at this critical juncture as it is a provides a unique opportunity for Nigerians to come together and discuss the challenges facing the country.
It also provides an opportunity for stakeholders to understand the paths ahead and the difficult decisions that have been made in order to build a globally competitive economy, all Nigerians need to be optimized.
A statement from the NESG added:
“As the 2023 general election fast approaches it has become important for the nation to have a national economic dialogue that addresses the main structural bottlenecks and challenges the country is facing over the course of the confronted at the time, should be identified and discussed at length to ensure that political elites and interest groups are properly guided in relation to policy decisions and implementation.
” In addition, it offers an opportunity for or us to come up with solutions for the multi-dimensional global economic challenges – the post-COVID-19 economy, the Russian-Ukrainian crisis (among other sources of global instability) – and national leadership change, while recognizing the need to promote national consciousness better economic prospects.
“As a nation, we stand before a unique opportunity to learn from and reflect on the policy decisions that have led us to where we are today, and to be willing to make difficult decisions in order to achieve a better.” and build stronger nation. ”
NESG Chair Reveals Worrying Number of Nigerians Living Below Poverty Line
Recall that NESG Chair Asue Ighodalo said earlier in the year that 91 million Nigerians are currently living below the poverty line.
Ighodalo, presenting the group’s 2022 macroeconomic outlook in Abuja, said that according to World Bank estimates between June Another million Nigerians were pushed into poverty in November 2021.
He said this has resulted in about eight million people being pushed into poverty in 2021 and Nigeria’s poverty figure to about 91 million.
Nigeria’s economy will grow 3.40% in 2021, the strongest growth under Buhari
The National Bureau of Statistics released its latest GDP report for the fourth quarter on Thursday al , February 17, showing Nigeria’s economy grew 3.4 percent in 2021.
According to the report, GDP in the fourth quarter of 2021 also recorded a strong recovery of 3.98 percent – but lower than the 4.03 percent in the third quarter.