TODAY
February 4, 2021
The Nigeria Economic Summit Group (NESG) has advised the Federal Government to always consider its economic policy choices, before taking decision, in order to FastTrack economic growth, its recently launched 2021 Economic Outlook has said.
The group stated that wrong policy choices were capable of casting a strain on the economy, citing the closure of land borders as one of such policies that ended up exacerbating the county’s economic challenges.
The NESG urged government to always liaise with relevant stakeholders, for a proper assessment of prevailing situations, before taking policy decisions.
“Wrong policy choices cast a strain on an ailing economy. Even before the outbreak of COVID-19, the implementation of land border closure resulted in a decline in earnings from non oil exports.
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Gloria Joseph-Raji, World Bank senior economist, was speaking on Tuesday at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit Group (NESG).
Quoting the monthly COVID-19 impact survey carried out by the National Bureau of Statistics, Joseph-Raji said most households have remained in an economically precarious situation despite the pick up in economic activities after the lockdown was lifted.
A 2020 report released by the NBS showed that
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“The pace of recovery is highly uncertain. We actually consider Nigeria right now to be at a critical junction in the sense that the achievement of its development goal of lifting 100 million people out of poverty by 2030 was already challenging even before COVID-19 struck, and then COVID-19 has made this even more challenging and more urgent,” she said.
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A renowned pharmacist and a former chairman of the Nigeria Economic Summit Group, Sam Ohuabunwa, has declared his intention to run for Nigeria’s presidency in 2023.
“At my age and time, I don’t come out just for the fun. I am not seeking popularity…. I am running for real,” Mr Ohuabunwa, 70, said during an interview with an online television, TV360 Nigeria.
The interview was published on Sunday.
Mr Ohuabunwa is a technocrat who is known to have stayed off partisan politics in Nigeria.
He told his interviewer, Deji Badmus, that it was time he got involved in politics to provide the needed leadership that could help transform Nigeria, instead of offering advice from the background.
The agency said the funds will bolster the conduct of cutting-edge researches in tertiary institutions.
Executive Secretary of TETFund, Prof. Suleiman Bogoro, who disclosed this while declaring open a four-Day Meeting of TETFund Research and Development Standing Committee (RDSC) yesterday, said the breakthrough comes two years after the Board of Trustees granted the approval for private institutions to draw from the funds.
Bogoro said since the inauguration of the TETFund RDSC on September 24, 2020, the committee has gone far in implementing President Muhammadu Buhariâs directive to support government initiatives of responding to the threat of COVID-19 through ground-breaking research on Phyto-medical drugs, prophylactics and vaccines.