Translate Economic Growth To Improved Living Standards, NESG Tells Federal Govt

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The Nigerian Economic Summit Group (NESG) has said one of Nigeria’s pressing concerns is the need to translate economic growth into improved living standards for all its citizens.

The private sector think-tank said despite experiencing growth at an average rate over the years, the country grapples with rising unemployment, income disparity, and multidimensional poverty.

“Nigeria must chart a trajectory that ensures inter-generational and sustainable growth. The nation has encountered various economic and political obstacles in recent years, underscoring the urgent need to redesign its systems and address structural issues,” chairman of the NESG board, Olaniyi Yusuf remarked yesterday at the pre-29th Nigerian economic summit press briefing in Abuja, yesterday.

In reply, the minister of budget and economic planning, Abubakar Atiku Bagudu said there is an urgent need to set priorities for the new administration that was billed to assume power on May 29, 2023.

He said the upcoming summit would provide a timely opportunity for a national economic review and create unanimity amongst all Nigerians on the need to actively prioritise the pursuit of economic growth that can sustainably create jobs, lift millions out of poverty and enable Nigeria to realise its economic potentials.

Senator Bagudu said the theme of this year’s summit “Pathways to Sustainable Economic Transformation and Inclusion” was chosen to discuss the imperatives for transforming the nation’s economy while ensuring inclusivity.


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