US EditionNigeria: AfDB Urges Bold Reforms for Nigeria's Economic Future
- Dr. Akinwumi Adesina, head of the African Development Bank, called on Nigeria to implement bold economic reforms during his keynote speech at the 20th anniversary event of Chapel Hill Denham on Thursday.
- He pointed to long-term ineffective policies, fragile institutions, excessive dependence on oil exports, and poor fiscal management as key factors driving Nigeria's economic decline.
- Adesina identified five essential focus areas for Nigeria’s progress: ensuring everyone has electricity, developing strong infrastructure, accelerating industrial growth, fostering innovation-driven economic expansion, and enhancing agriculture to strengthen resilience.
- He emphasized that accepting underdevelopment as inevitable is unacceptable, pointing out that Nigeria’s GDP per capita has fallen from $1,847 in 1960 to $824 today, meaning the average Nigerian is poorer now than they were over six decades ago.
- Adesina emphasized that Nigeria must implement robust reforms, maintain steady and coherent policy frameworks, and ensure openness in its leadership to avoid further setbacks, calling for intentional efforts to build a developed, corruption-free nation by 2050.
21 Articles
21 Articles
Reforms, reluctant reformers, and bold reforms, By Uddin Ifeanyi
Thankfully, there is still just about enough time and space for some of the reforms that the economy needs. The fear is that protestations to the contrary aside, we still suffer a severe shortage of the cojones needed to see these reforms through. The incumbent Federal Government is wont to make a song and dance […] The post Reforms, reluctant reformers, and bold reforms, By Uddin Ifeanyi appeared first on Premium Times Nigeria.
Nigeria: A nation unto itself?, By Abiodun Komolafe
One reason many Nigerians voted for the All Progressives Congress (APC) was its manifesto commitment to laying the foundation for a Nordic-Scandinavian and German-style social market economy. This is a model that promises a blend of economic efficiency and social welfare that appeals to the aspirations of a more equitable society. A social market economy is grounded in achieving macroeconomic stability to foster sustainable development and safeg…
How Nigeria Lost The Rural Economy
In OA Lawal’s O’Level Economics textbook, he wrote about localization of industries, explaining factors that could facilitate the growth of firms. Extrapolate his thesis, and you could model how rural Nigeria was developing until 1998. My village of Ovim was bubbling with development. But it was not just Ovim. Yes, every village within the railway track […] The post How Nigeria Lost The Rural Economy appeared first on Tekedia.
CITN Declares Tax Reform Bill As Key To Nigeria’s Devt
President of the Chartered Institute of Taxation of Nigeria (CITN), Samuel Agbeluyi, has described the tax reform bill currently before the National Assembly as a transformative opportunity for Nigeria’s economy. He urged state and local governments to demonstrate the political will necessary for its implementation once it becomes law. Speaking ahead of CITN’s 27th Annual Tax Conference, scheduled for 12–16 May 2025 at the Abuja Chamber of Comme…
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