Policy Inconsistency Responsible For Nigeria’s ‘Little Economic Transformation And Very Low Quality Growth’ – Report
The United Kingdom’s Economic Transformation Report says Nigeria has experienced little economic transformation and very low quality growth in recent times compared with other oil exporting countries in the world.
The Director of the Supporting Economic Transformation Program an economic research and support program of the United Kingdom, Mr Dirk Willem, identified inconsistency in policies as a major factor causing the economic transformation gap.
Mr Willem made the remarks at the public presentation of the Supporting Economic Transformation Report in Abuja, where he Also recommended that government should move away from the “business as usual” way of doing things and work at expanding the country’s industrial and manufacturing base.
Meanwhile, the Minister of State for the Ministry of Industry Trade and Investment, Mrs Aisha Abubakar assures of government’s continued determination to diversify the economy despite current economic challenges the country is grappling with.