National Economy Newspaper
Thursday, March 4, 2021
  • Home
  • News
    • Cover Story
    • International News
  • State In Focus
  • Local Commodities
  • Personal Finance
  • Special Reports
  • Others
    • Bag of Rice Index
National Economy Newspaper
  • Home
  • News
    • Cover Story
    • International News
  • State In Focus
  • Local Commodities
  • Personal Finance
  • Special Reports
  • Others
    • Bag of Rice Index
No Result
View All Result
National Economy Newspaper
No Result
View All Result

NESG Recommends Macroeconomic Stability, Policy Consistency For Sustainable Economic Growth

1 week ago
in News
Reading Time: 2min read
131 3
0
The Nigerian Economics Summit Group
153
SHARES
1.9k
VIEWS
Share on WhatsAppShareTweet this

The Nigeria Economic Summit Group (NESG) has advised the Federal Government to prioritise certain policy decisions that will enhance and sustain economic growth.

Mr Laoye Jaiyeola, the Chief Executive Officer of the group gave the advice in an interview with News Agency of Nigeria (NAN) on Monday in Abuja.

NAN reports that the CEO was reacting to the recent pronouncement that Nigeria has exited its second economic recession.

samndaads

Jaiyeola, who is also a past President of Chartered Institute of Bankers of Nigeria (CIBN) said setting such necessary priorities would ensure inclusive economic growth, especially with the challenges posed by COVID-19.

“Our economy was badly affected by COVID-19, but it is a good thing that we have now exited our second economic recession within a spate of five years.

samndaads

“That is why we are urging the government to give attention to four priorities that are essential for delivering a high, sustainable and inclusive economic growth,’’ he said.

He cited macroeconomic stability, policy and regulatory consistency, sectorial reforms and human capital development as necessary areas that government should prioritise.

“Those four areas need attention.

“First, we have established the fact that government revenue cannot be enough. We need to drive private investment either foreign or local. We need the private sector to make things work.

“For us to have foreign investment come into the country, or for Nigerians to invest their monies here, necessary conditions need to be in place.

“Macroeconomic stability is crucial. We should not be having running inflation, which will imply that we were better off yesterday than we are today.

“If we have stability on the monetary policy side, also on the fiscal policy side, investors will be attracted to invest here,’’ he said.

Jaiyeola also suggested that if government remained consistent in its policy formulation, the economy would grow faster.

“A clear example is tariffs on vehicles. While government is encouraging investors to set up vehicle assembly plants here, it is also reducing tariffs on imported vehicles to make the prices cheaper.

“Investors will not come if they see such flip-flop in policies,’’ he said.

He urged government to concentrate on sectors that have  the capacity to positively impact the economy, generate jobs and lift people out of poverty.

“In the past five years, there are certain sectors that have performed very well; these are key sectors that government should concentrate on.

“A sector like telecoms has been profitable in last five years. Government should be concerned with how to help boost such sectors,’’ Jaiyeola added. (NAN)

 

 

Tags: The Nigeria Economic Summit Group (NESG)
SendShare61Tweet38ShareShare11

Related Posts

Seamfix Limited
News

COVID-19: Seamfix Made Monumental Strides In The Financial, Telecommunication Ecosystem

3 hours ago
Nigeria’s fragile export base
News

Depleting External Reserves

22 hours ago
FG, OCP of Morocco Sign $1.4bn Agreement On Gas Industrialisation
News

FG, OCP of Morocco Sign $1.4bn Agreement On Gas Industrialisation

23 hours ago
FG Approves Establishment Of SIM Swap Centres By Mobile Network Operators
News

FG Approves Establishment Of SIM Swap Centres By Mobile Network Operators

23 hours ago
FG Approves N797.2bn For Reconstruction Of Abuja-Kaduna-Kano Road
News

FG Approves N797.2bn For Reconstruction Of Abuja-Kaduna-Kano Road

23 hours ago
CBN Facilitates Release Of 50,000MT Of Maize
News

CBN Facilitates Release Of 50,000MT Of Maize

23 hours ago

Popular

  • How Diaspora Taxation Can Shore Up Nigeria’s Revenue Base

    How Diaspora Taxation Can Shore Up Nigeria’s Revenue Base

    177 shares
    Share 71 Tweet 44
  • New Carbon Footprint Calculator to Track Consumption

    158 shares
    Share 63 Tweet 40
  • Policy Inclusion: African Farmers Stories To Train Youths On Drone

    154 shares
    Share 62 Tweet 39
  • Lush Hair Sponsors NASHCO Annual Hair Contest

    159 shares
    Share 64 Tweet 40
  • Nigerians Can Now Make Money From Growing Stevia – Agribusiness Expert

    168 shares
    Share 67 Tweet 42
  • CBi Unveils Web-based Solution For MSMEs

    159 shares
    Share 64 Tweet 40
  • CBN Approves New Cheque Standard For Banks

    162 shares
    Share 65 Tweet 41
  • Themap Assures Business Partners Not To Panic Over Hackers’ Attack On Instagram Page

    161 shares
    Share 64 Tweet 40
  • GEORGE’S MIDAS TOUCH IN THE NATIONAL INLAND WATERWAYS AUTHORITY

    158 shares
    Share 63 Tweet 40
  • Ajaokuta Steel’s 100 Years Lifespan

    159 shares
    Share 64 Tweet 40
  • Trending
  • Comments
  • Latest
How Diaspora Taxation Can Shore Up Nigeria’s Revenue Base

How Diaspora Taxation Can Shore Up Nigeria’s Revenue Base

January 9, 2021
New Carbon Footprint Calculator to Track Consumption

New Carbon Footprint Calculator to Track Consumption

July 24, 2020
Policy Inclusion: African Farmers Stories To Train Youths On Drone

Policy Inclusion: African Farmers Stories To Train Youths On Drone

February 15, 2021
Lush Hair Sponsors NASHCO Annual Hair Contest

Lush Hair Sponsors NASHCO Annual Hair Contest

August 29, 2020
Seamfix Limited

COVID-19: Seamfix Made Monumental Strides In The Financial, Telecommunication Ecosystem

March 4, 2021
COVID-19: Seamfix Made Monumental Strides In The Financial, Telecommunication Ecosystem

COVID-19: Seamfix Made Monumental Strides In The Financial, Telecommunication Ecosystem

March 4, 2021
Nigeria’s fragile export base

Depleting External Reserves

March 3, 2021
FG, OCP of Morocco Sign $1.4bn Agreement On Gas Industrialisation

FG, OCP of Morocco Sign $1.4bn Agreement On Gas Industrialisation

March 3, 2021
National Economy Newspaper

©2020 National Economy

Links

  • Home
  • Privacy & Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • News
  • Alpha Companies
  • Business
  • Exclusive 🔒
  • Local Commodity
  • Viable States
  • Personal Finance
  • Special Reports

©2020 National Economy

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version