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Experts call for inclusive policies to drive economic growth

Economic and development experts have called on the federal government to develop inclusive national policies which according to them is the only approach that can drive economic growth.

They made the call in Abuja recently at a national economic dialogue which had the theme “Critical Challenges Confronting the Nigerian Economy” which was organized by the Nigerian Economic Summit Group (NESG)

In his remarks, NESG Chairman, Mr. Asue Ighodalo said he Nigerian government has a pivotal role in addressing, with utmost urgency.

According to him, “These challenges are non-inclusive economic growth, macroeconomic stability, infrastructure deficit, human capital deficit and skills gap, national insecurity and weak economic competitiveness.

Also speaking, Osita Ogbu, director, Institute for Development Studies, University of Nigeria, said: “Enough emphasis is not placed on inequality as it undermines the trust, solidarity, and mutuality on which good citizenship is based.

“Once you have a non-inclusive growth economy, it’s a recipe for what we are already observing in this country,” he said.

Reinforcing the urgency of adopting an inclusive strategy, Ari Aisen, resident representative, International Monetary Fund (IMF) in Nigeria, said: “The global economy has been hit by the second shock of the Russia-Ukraine war which puts the economy in a difficult situation. Therefore, attention must be paid to agric and manufacturing sector so it can provide enough food and services to keep Nigerians from suffering from the shock disproportionately.”

On his part, Samson Itodo, executive director, YIAGA Africa, stated that“ Nigeria is operating a political process that is highly commercialised, which plays with a deficit of ideas competition, and is exclusionary of the vast majority of people and what you have at the end of the day is a ruling and political class disconnected from reality.

“This is why we need to amplify the need for us to register and cast our votes. Also, voters in 2023 need to be informed and understand the issues.”

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