NESG Advocates for Economic Growth Focused on Job Creation and Improved Incomes

The Nigerian Economic Summit Group (NESG) has issued a clarion call for a paradigm shift in how Nigeria measures its economic progress. During the closing session of the 32nd Nigerian Economic Summit (NES#32) in Abuja, Chairman Omoboyede Olusanya stressed the importance of focusing on tangible improvements in jobs, incomes, and living standards rather than just headline growth figures.

"Growth that delivers is growth whose impact is strongly felt," Olusanya remarked, emphasizing that the benefits of economic growth should be visible in the daily lives of citizens. He elaborated that this includes ensuring that farmers earn more due to enhanced productivity, manufacturers reduce production costs, and graduates secure decent employment opportunities.

Olusanya introduced the concept of “Growth that Delivers” as the guiding principle for his tenure, highlighting that while recent economic reforms have restored macroeconomic stability, this stability is merely the starting point. He pointed out the necessity of bridging the gap between macroeconomic stability and accelerated growth, which ultimately leads to improved lives and livelihoods for the populace.

“Bridging the distance between macroeconomic stability and accelerated growth, and between accelerated growth and improved lives and livelihoods, is the task before us all,” Olusanya stated.

In outlining his priorities, Olusanya emphasized the importance of accountability in the NESG’s engagement with government and stakeholders. He committed to ensuring that every priority commitment stemming from the summit will have a designated owner, a clear timeline, and measurable indicators of success, thereby building on the NES Accountability Framework. This initiative aims to publish progress updates ahead of the next summit, NES#33, to maintain transparency and drive forward momentum in economic policies.