The Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Dr Tayo Aduloju, Monday, disclosed that Nigeria will attain a $ 1 trillion economy in the next 10 years if the right policies are implemented.
Aduloju, who spoke in Abuja at a roundtable on ‘How to grow Nigeria’s economy – The way towards successful and sustainable reforms’, organised by Konrad Adenauer Stiftung, lamented that the inconsistency in the formation of policies is one of the challenges bedevilling the country.
To this end, he noted that to grow the country’s economy, a sustainable growth plan and risk and liquidity management should be adequately implemented.
Aduloju also advocated political consensus and fiscal policies to stabilise the economy, adding that power and agricultural sectors, among others, should be properly funded to achieve a vibrant economic status.
Also speaking, a Committee member on Economic Affairs, German National Parliament, Hon. Stefan Rouenhoff, in his address, said despite the challenges, there are opportunities in Nigeria.
Rouenhoff, who described Nigeria as the largest consumer market in Africa, called for the revamping of the bi-energy commission between Nigeria and Germany.
Speaking as a panelist, a Global Economic Consultant, Professor Ken Ife, said price stability is key to the recovery of the country’s economy, and urged the government to deal with inflation.
Also speaking, a member of the Presidential Economic Coordination Council, Mr Patrick O. Okigbo 111, said for the country’s economy to record more successes, the power sector and security among others should be given the utmost attention.
Earlier in his address of welcome, the Majority Leader of the House of Representatives, Hon (Professor) Julius Ihonvbere, had said appropriate legislation is very key to improving the country’s economy.
Ihonvbere also said ease of doing business should be taken seriously to attract foreign investment in the country, and urged that over bloated bureaucracy should be completely eliminated.
