An Estate Surveyor and Valuer ESV Ageh Ayokunle said that Navigating Nigerian’s economy and growth has challenges.
He stated this yesterday in Abuja .
ESV. Ayokunle said that the economic growth has often been tempered by structural challenges, including reliance on oil revenues, inadequate infrastructure, and fluctuating global commodity prices.
He said in recent years nigeria have seen modest diversification efforts. He said in the agriculture sector, in particular, has been pivotal in providing employment and contributing to GDP. “Investments in agro-processing, technology-driven farming, and export-oriented initiatives are helping Nigeria reduce dependence on oil and strengthen food security”.
Similarly, He maintained that the tech and fintech industries are experiencing rapid growth, attracting both local and international investors.
“Inflation and unemployment remain pressing concerns. Rising prices, especially for essential commodities, have strained household budgets, while a significant portion of the labor force remains underemployed”.
He said that addressing these issues requires policy reforms that promote inclusive growth, stimulate entrepreneurship, and enhance the efficiency of public institutions.
He noted that government initiatives, such as the Economic Recovery and Growth Plan (ERGP), aim to stabilize the economy, attract foreign direct investment, and create jobs.
However, success depends on effective implementation, transparency, and collaboration with the private sector. Infrastructure development, particularly in transport, power, and digital connectivity, is also crucial to sustaining long-term growth.
ESV. Ayokunle emphasized that
looking ahead, Nigeria’s economy holds significant promise if structural reforms are prioritized.
“With strategic planning, investment in human capital, and diversification beyond oil, the nation can achieve resilient and inclusive growth”.
He added that Policymakers, entrepreneurs, and citizens alike play a role in shaping an economy that not only withstands external shocks but also delivers prosperity for all.
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