African lead­ers urged to boost eco­nomic growth

Daily Trust - - NEWS - By Olayemi R. Ibrahim

The Su­per­vis­ing Min­is­ter of Na­tional Plan­ning Com­mis­sion (NPC) Bashir Yuguda has urged African lead­ers to pur­sue poli­cies that would make the cur­rent growth mo­men­tum on the con­ti­nent more re­silient to ex­ter­nal shocks.

He stated this at the 7th Joint An­nual Meet­ings of the Eco­nomic Com­mis­sion for Africa (ECA)’s con­fer­ence of African Min­is­ters of Fi­nance, Plan­ning and Eco­nomic De­vel­op­ment cur­rently in Abuja.

“Africa’s eco­nomic emer­gence and tran­si­tion from a con­ti­nent of low-in­come into mid­dle-in­come econ­omy re­quires chang­ing the eco­nomic struc­ture from pre­dom­i­nantly agrar­ian to in­dus­trial and mak­ing the most of its large reser­voir of nat­u­ral and agri­cul­tural re­sources,” he stated.

Yuguda also stated that this will sig­nif­i­cantly boost the eco­nomic per­for­mance of the coun­tries, as well as lift many Africans out of poverty through em­ploy­ment and wealth cre­ation.

He stressed that em­pir­i­cal ev­i­dence from de­vel­oped, newly in­dus­tri­al­ized and emerg­ing economies has shown that sus­tain­able de­vel­op­ment can­not be achieved on a weak in­dus­trial base, adding that strate­gic plan­ning al­ways plays a key role in eco­nomic growth and de­vel­op­ment.

Yuguda em­pha­sized the Nige­rian govern­ment that has de­vel­oped a Na­tional In­dus­trial Revo­lu­tion Plan (NIRP) and the Na­tional En­ter­prise De­vel­op­ment Pro­gramme (NEDEP), aimed at ush­er­ing in a new era for in­dus­trial, mi­cro, small and medium en­ter­prises de­vel­op­ment in Nigeria.

“Itwill­fast-trackin­dus­tri­al­i­sa­tion, ac­cel­er­ate in­clu­sive eco­nomic growth, job cre­ation, trans­form Nigeria’s busi­ness en­vi­ron­ment and stop the drain on our for­eign re­serves caused by im­port­ing what we can pro­duce lo­cally,” he added.

PHOTO

A van loaded with sug­ar­cane mov­ing to­wards a mar­ket in Zam­fara over the weekend.

SANI MAIKATANGA

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