- June 25, 2021
- Posted by: adminer
- Category: Economics
The Institute of Directors (IoD) says the present administration s efforts at diversification of the economy from oil exports gives hope of the country becoming a stronger nation.
Chief Chris Okunowo, IoD President, made the assertion at the Institute’s 37th Annual General Meeting (AGM) which held physically and virtually on Thursday in Lagos.
Okunowo said that government’s implementation of the Economic Sustainability Plan and the Medium-Term Expenditure Framework (2021-2025) emphasised the need to diversify Nigeria’s economy and ensure growth in non-oil exports.
He said the move implied that Nigeria was showing what recovery could mean for countries that had been most impacted by the COVID-19 pandemic and its resultant economic and security crises.
“We expect that as the government focuses on building an enduring business environment through renewable capacity, women and youth empowerment, climate-smart agriculture and overall economic diversification, we can be hopeful for a Nigeria that is on the path to becoming a strong nation,” he said.
Okunowo stated that the pandemic presented an opportunity to reset Nigeria’s economy by consolidating on the ongoing reforms related to the removal of fuel and electricity subsidies and a massive programme on harmonisation of citizen’s data…..