#NES22:Export-led growth will drive Nigerian economy-Udoma

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Friday, September 23rd, 2016 6.30pm/@webtvng

Export led growth will change the landscape of the Nigerian economy, steering it from the socio-economic challenges it is experiencing at the moment.

The Minister for Budget and National Planning, Senator Udoma Udo Udoma made this assertion at the press conference for the 22nd edition of the Nigerian Economic Summit in Lagos.

Senator Udo Udoma whose Ministry is partnering the Nigerian Economic Summit Group (NESG) for the annual summit, made a strong case for Nigeria to evolve from a consuming nation to a productive economy.

The theme of the summit “Made in Nigeria”, according to the Minister had come at the right time when Nigeria was in dire need of  economic restructuring.

Udoma said the 22nd NESG  summit will feature discussions around improving quality, standards, technology and innovation  around .

He also stated that at the end of the conference, a practical roadmap will be developed to  drive the “Made in Nigeria” initiative.

Highlighting the benefits of promoting “Made in Nigeria” the Minister said it will promote industrialization, reduce the pressure on foreign exchange, boost key sectors of the economy, reduce unemployment and stimulate economic growth.

Addressing the issues of the economy, Senator Udoma assured Nigerians that the government was committed to tackling and steering the nation through the recession.

According to him, the government was ready to spend its way through the recession, with initiatives like the Social Intervention Programme(SIP), which will gulp about N500bl.

Lauding the efforts of the NESG, the policy maker described the Nigerian economic summit as the largest convergence of public and private policy makers, in the country.

In his remarks, the CEO of  NESG Mr Laoye Jaiyeola also hinted that as part of the summit, there will be special sessions for Small Medium Enterprises (SMEs) who are potential drivers of the “Made in Nigeria” initiative.

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