The Nigerian Economic Summit Group (NESG) has stressed that Nigeria's economic growth must go beyond GDP numbers to focus on diversification, industrialisation, and human competitiveness in order to build a truly prosperous and inclusive economy by 2030.
Speaking ahead of the 31st Nigerian Economic Summit themed "A Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030," the Chief Executive Officer of NESG said the summit would focus on five key pillars — industrialisation, investment, institutional strengthening, inclusion, and trade competitiveness.
He explained that industrialisation remains central to transforming Nigeria's natural endowments into competitive advantages, noting that sectors like agriculture and manufacturing hold huge potential for Small and Medium Enterprises (SMEs).
"You cannot keep exporting raw materials and importing finished goods while small businesses struggle to survive," he said. "We must industrialise through backward integration and local value addition that empower local producers."
On investment, he emphasised the need for a stable regulatory environment to attract long-term capital. "To achieve a $1 trillion economy, Nigeria must attract between $10 to $15 billion annually," he noted, adding that both domestic and foreign investors thrive only where policies are transparent and consistent.
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He also highlighted the importance of institutional reform to strengthen regulators and create markets that support innovation and SME participation.
"Inclusive growth means job creation," he added. "Economic expansion without opportunities for the people only widens inequality. Real reform must ensure that growth translates into livelihoods."
He pointed to the success of Nigeria's telecommunications revolution as evidence that the right policies and private-sector collaboration can unlock dormant sectors.
The upcoming summit is expected to shape actionable policy directions that position SMEs, technology, and human capital at the heart of Nigeria's economic transformation agenda.
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