Uche Usim, Abuja
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Monday, hailed the Nigerian economy as outperforming many others globally, despite slipping into a second recession in five years at the weekend.
She made the disclosure in Abuja on Monday at the opening of the 26th edition of the Nigerian Economy Summit (#NES26).
Her comments are coming at a time Nigerians are groaning over the attendant effects of another recession, in an economy that is already overstretched with complex challenges amid declining revenue receipts.
According to Ahmed, despite the negative growth, the Nigerian economy has shown strong resilience in areas such as production, telecommunications, financial institutions, food and beverage manufacturing, construction services, public administration, and courier services. She described NES as a strong pool for experts meant to find solutions to Nigeria’s myriad of challenges.
“Since the inception of @officialNESG 25 years ago, it has helped to shape government policies, reforms and sector transformation. Despite the recession, Nigeria has out performed many economies in terms of economic growth.
“Some economic activities also demonstrated strong resilience. They include production, telecommunications, financial institutions, food and beverage manufacturing, construction services, public administration, and courier services.”
The Minister added that the Federal Government in partnership with the NESG has been working together on the national implementation plans; as well as the regional and local development plans.
In his remarks, the Chairman of NES Asue Ighodalo, said the NES and the private sector must do more to address policy needs.
He said, “We come to the table each year with clear and defined obstacles in search of solutions. The NESG and private sector must do more to address policy needs.
“As far as we may have come, we have not come far enough. Let this 26th Summit be the one where we collectively resolve to shun off greed, nepotism, corruption.
“It is time that we are brave facing our realities with strength, purpose, and integrity.”
Ighodalo said that China has shown Nigeria what a serious nation can do when it looks back on its history and resolves never to fail its citizens.
He added, “It is essential to note that this comparison with China is not misplaced.”