The Nigeria Employers’ Consultative Association (NECA) has emphasized the need for comprehensive sectorial reforms to enhance the country’s business environment, agriculture, and attract domestic and foreign investments.
According to NECA’s Director General, Mr. Adewale-Smatt Oyerinde, “enhancing agricultural productivity, revitalizing the industrial sector, investing in human capital, and strengthening macroeconomic stability are Nigeria’s strategic imperatives for sustainable growth.”
Oyerinde highlighted the importance of supporting farmers with modern technology and access to finance to increase agricultural output and ensure food security.
He said that investing in infrastructure improvements, particularly in energy and transportation will help to drive economic diversification and reduce reliance on oil revenues.
He added that strengthening macroeconomic stability can help to address foreign exchange market volatility and boost investor confidence.
Commenting on the recent GDP report, Oyerinde noted that while Nigeria’s economy is not yet at a stage of unqualified success, the recent growth indicates “a positive momentum that, if well-managed, can lead to sustained economic improvement.”
He reiterated that the government’s focus should be on implementing targeted reforms to enhance productivity, attract investment, and create a more resilient and diversified economy.