The Nigerian Economic Summit Group (NESG) has raised concerns over Nigeria’s current level of investment, saying it is not enough to create the jobs and productivity needed to support the country’s rapidly growing population.
The group said Nigeria needs significantly higher investment across key sectors of the economy to expand productive capacity, improve businesses and create sustainable employment opportunities.
The NESG’s position comes ahead of the 32nd Nigerian Economic Summit, which is expected to focus heavily on investment, human capital, job creation and productivity.
According to the group, stronger investment is essential if Nigeria is to move beyond economic growth figures and deliver broader improvements in living standards. It also stressed the importance of creating an environment that encourages both domestic and foreign investors to commit long-term capital to the country.
The organisation’s comments highlight the challenge of generating enough employment opportunities for Nigeria’s expanding working-age population, particularly as businesses continue to face challenges around financing, infrastructure and operating costs.
The NESG is expected to use the upcoming summit to push discussions around strategies for attracting investment and improving productivity across the economy.
The group said investment must translate into productive businesses, new jobs and improved economic opportunities rather than simply increasing financial activity.
