Economic and institutional restructuring for the next Nigeria
We have not come to read the Book of Lamentations about Nigeria’s woes, nor to sing the songs of David. We see the half-empty glass, but we prefer to focus on the half-full glass. We want to focus on the future—rather than the past or the present. As mentioned above, we are asked to speak on “The Economic Restructuring of Nigeria”—an omnibus topic indeed! Since the First National Development Plan (1962- 68), transformation of the economic structure/diversification has been the fulcrum of all national plans. For decades, every government has tried its brand of ‘economic restructuring’ or economic diversification and yet the economy remains tied to the life-support of oil, peasant agriculture and largely informal services sector. Income inequality, poverty, and unemployment remain major defining features of the economy.
FG’s economic diversification yielding fruits through agric produce — Perm Sec
Mr Sunday Edet-Akpan, Permanent Secretary, Federal Ministry of Industry, Trade and Investment, says Federal Government’s efforts at diversifying the economy is yielding results.
Nigeria’s economic death toll rises predictably
Those living in extreme poverty anywhere in the world constitute the living dead. Nigerians caught in the poverty trap exist in a hell on earth of their own. There are safety nets in some countries, regular subventions of resources to help the destitute cushion the impact of poverty. Not Nigeria; here, the poor are on their own. Instead of helping them government uses them as smoke screen to fleece the country through fraudulent Social Intervention Programmes, SIPs, and “Tradermoni” given to “party stalwarts”. Despite all the attempts by the Buhari administration to bury the truth, it just keeps popping up all the time.
Sluggish Economic Growth: MPC members call for increased targeted lending to MSMEs
Some members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has called for increased targeted lending to Micro, Small and Medium Enterprises (MSMEs) to address the nation’s sluggish economic growth.
Nigerian economic confidence falls by 3% in 12mths — ACCA
A survey report from the Association of Chartered Certified Accountants (ACCA) and Institute of Management Accountants (IMA) has shown that Nigerians’ confidence in the economy fell by 3.0 percent in 12 months ending December 2018.
Nigeria’s 2.1% economic growth to spur W/Africa’s 2019 forecast
Nigeria’s 2.1 per cent economic growth projection in 2019 is expected to drive the regional growth forecast of 2.9 per cent, the United Nations report has projected.
