Building a Resilient Economy: Nigeria’s Path to Sustainable Growth

Abuja, Nigeria – Nigerian Vice President Kashim Shettima has emphasized the need to build a resilient economy that can withstand shocks, as the country seeks to diversify its economy and achieve sustainable growth.

Speaking at the 30th Nigerian Economic Summit (NES30) in Abuja, Shettima remarked that the government is committed to creating an environment that will boost economic growth and shared prosperity. "As a nation, we must prioritise economic diversification," he said, highlighting the importance of sectors such as agriculture, manufacturing, and the digital economy in driving growth.

The Vice President also commended the Nigerian Economic Summit Group (NESG) for its role in promoting dialogue and collaboration between the public and private sectors, adding that the group’s recommendations have been instrumental in shaping the government’s economic policies.

Shettima acknowledged that Nigeria has faced significant economic challenges in recent years, including the COVID-19 pandemic, fluctuating oil prices, and internal security issues. However, he expressed optimism that the country can overcome these challenges with the right policies, partnerships, and commitment.

"We must prioritise social safety nets and ensure that the most vulnerable members of society are protected during tough times," he said, highlighting the government’s efforts to expand programmes such as the National Social Investment Programme and the National Poverty Reduction and Growth Strategy.

The Vice President also emphasized the need for collaboration between the public and private sectors, as well as with international development partners, to drive growth and development.

Atiku Bagudu, Minister of Budget and Economic Planning, also spoke at the summit, highlighting the progress made by the government in implementing its Renewed Hope Agenda. He noted that the government has sustained its foreign exchange reforms and is working to boost infrastructure development, including power generation, road networks, and transportation systems.

The 30th Nigerian Economic Summit has been a platform for public and private sector stakeholders to discuss the country’s economic challenges and opportunities, and to chart a path forward for sustainable growth and development.