Nigeria’s economy at critical period, but gov’t commits to growth
Ajose Sehindemi is Businessamlive Reporter.
You can contact him on ajose.sehindemi@businessamlive.com with stories and commentary.
Nigeria’s economy is at a critical period but the central government says it is commited to its growth and development and is eyeing up the real estate development sector to help its push for growth as it has the ability to generate volumes of jobs.
The country’s vice president, Yemi Osinbajo, said at the 2018 Annual Conference of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Ibadan, Oyo State, south west of Nigeria, that because the economy was undergoing a critical period, government has planned and charted a formidable way forward for the much anticipated giant leap in socio-economic development.
Osinbajo, represnted by Suleiman Hassan, the minister of state for Power, Works and Housing, said some of the critical areas that will attract the president’s attention is the real estate development sector, which is capable of creating volumes of job opportunities that will promote economic development.
The sector has so much to contribute in the actualisation of this objective, he said, adding that government expected NIESV to key into the recovery plan.
“The support, contribution and collaboration of your members and the institution in achieving infrastructure is hereby solicited in the efforts of government toward bringing about the desired changes in the country.
“The Economic Recovery and Growth Plan (ERGP) 2020 of the Federal Government is predicated on three major objectives, restructuring, growth and investing in our people and building a globally competitive economy and the institution has so much to contribute in the actualisation of this objective.’’
According to him, it is pertinent to note that the ongoing implementation of the ERGP has contributed to Nigeria’s recovery from economic recession.
Abiola Ajimobi, the governor of Oyo state in his remarks, said for Nigeria to achieve its vision of being one of the top 20 economies in terms of Gross Domestic Product (GDP) size by 2020, it was imperative to give attention to infrastructure development.