ECONOMISTS CALL FOR FASTER ECONOMIC GROWTH AT 66

As Nigeria marks its 66th Independence anniversary, economists have called for faster economic growth and deeper reforms to address persistent challenges affecting the country.

The economists said recent reforms had improved some macroeconomic indicators but argued that issues including poverty, unemployment, insecurity and weak productivity remained significant concerns.

They said Nigeria needs to increase its economic growth rate substantially, with some calling for growth of about 10 per cent annually to create more opportunities and improve living standards.

The experts also highlighted the need to strengthen productive sectors of the economy and create conditions that encourage investment and job creation.

They noted that growth alone would not be sufficient unless it translated into better living conditions and increased economic opportunities for Nigerians.

The economists also pointed to structural challenges involving infrastructure, electricity, human capital and the country’s continued dependence on crude oil revenues.

They called for policies that would improve productivity, expand employment and support businesses across different sectors.

The comments come as Nigeria reflects on its economic performance since gaining independence in 1960.

The experts said sustained reforms, stronger institutions and policies that encourage productive investment would be necessary to achieve faster and more inclusive economic growth.