Emmanuel Ochayi
Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, has declared the federal government’s dedication to the ambitious Agenda 2050 during a media conference ahead of the 29th Nigerian Economic Summit (NES29).
He categorically stated, “Our goal is clear: to elevate Nigeria’s GDP per capita to $33,000 and reduce the poverty rate to a mere 0.6%.”
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This agenda aims to position Nigeria as the upper-middle-income economy with the highest per capita GDP, a transformation that will span across administrations through medium-term national development plans and annual budgets.
Bagudu emphasized that Agenda 2050’s core objectives encompass fostering macroeconomic stability, policies conducive to domestic savings and investment, and a business-friendly environment. It also seeks to diversify the economy, achieve sustainable growth, and drive productivity and industrial development.
The NES29, themed ‘Pathways to Sustainable Economic Transformation and Inclusion,’ takes center stage as the premier platform for dialogue between public sector policymakers and private sector leaders.
According to the Minister, this summit intends to explore the imperative of economic transformation while ensuring inclusivity, dissected through five sub-themes.
“The success of this endeavor hinges on active engagement from all stakeholders,” Bagudu asserted, urging participation from government entities, private sectors, civil society, media, and development partners.
Furthermore, the Minister underscored that the” Renewed Hope Agenda” and the current administration’s eight priority areas align closely with the Agenda 2050 and the National Development Plan 2021-2025. The ministry is in the process of conducting a mid-term review to ensure seamless integration.
Bagudu concluded by highlighting the keys to sustainable transformation: innovative policies, robust institutions, strategic infrastructure investments, human capital development, entrepreneurship encouragement, and digital technology leverage. He expressed optimism that Nigeria’s untapped economic potential can be unlocked through targeted reforms and good governance, attracting foreign investments and enhancing citizens’ quality of life.
Also speaking, Olaniyi Yusuf, Chairman of NESG, acknowledged Nigeria’s critical challenges and the unique opportunity for equitable and resilient economic development.
The NES29, slated for October 23-24 in Abuja, stands as a pivotal moment in Nigeria’s journey towards shared prosperity and overcoming longstanding obstacles.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
