Nigeria’s Economic Future: 25 Years of Democracy and Beyond, was the theme of the Nigerian Economic Summit Group (NESG) at its 2024 National Economic Dialogue, which held on Wednesday in Abuja, the nation’s capital.
The dialogue brought together key government officials, industry leaders, and stakeholders to discuss Nigeria’s economic trajectory and the impact of President Bola Tinubu’s Renewed Hope Agenda.
In his keynote address, the Nigerian Minister of Budget and Economic Planning, Senator Atiku Bagudu, while acknowledging that the country has faced significant challenges over the past 25 years, emphasized that the current strategy is yielding positive results.
“Although we have not achieved all our goals, our population has grown, and we are not where we used to be. I want to assure everyone that we have a strategy in place, and it is working. We understand that tough choices are necessary, and we are seeking resources to offset their impact. Our message is clear: we need to do more, do better, and do it quickly,” Bagudu said.
Similarly, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, stressed on the importance of continued efforts to improve the nation’s economic stability.
He noted that inflation has begun to decrease and that the government is committed to maintaining this trajectory, particularly focusing on reducing food inflation to make food more affordable for all Nigerians.
“Democracy, while challenging, is the best form of governance for our nation, and it is always a work in progress. Today’s dialogue is part of our ongoing effort to enhance our democratic governance. We are making progress in controlling inflation, and our immediate goal is to ensure more affordable food for Nigerians,” Edun stated.
NESG Chairman, Mr. Olaniyi Yusuf, provided a comprehensive overview of Nigeria’s progress over the past 25 years. He acknowledged the significant political, social, and economic transformations that have occurred, including advancements in telecommunications, agriculture, and services.
However, he also highlighted the ongoing challenges that continue to hinder the country’s development, while he emphasized the importance of collaboration across all sectors of society to address the complex challenges facing Nigeria.
Yusuf called for a united effort to foster innovation, support entrepreneurship, and attract investment, stressing that these initiatives are crucial for building a prosperous socio-economic future.
