Economic growth must improve livelihoods, says new NESG chair

The newly appointed Chairman of the Nigerian Economic Summit Group, Omoboyede Olusanya, has emphasized that Nigeria's economic growth must translate into tangible benefits for ordinary citizens. During the closing session of the 32nd Nigerian Economic Summit, Olusanya stressed that economic progress should focus on improving employment, incomes, productivity, and living standards rather than solely on macroeconomic indicators.

He urged policymakers to ensure that recent reforms lead to poverty reduction and expanded opportunities, enabling farmers to earn more, manufacturers to cut costs, graduates to secure decent jobs, and businesses to access affordable financing. Olusanya introduced "Growth that Delivers" as his guiding principle, outlining five commitments to bridge the gap between macroeconomic stability and improved lives.

He pledged to enhance accountability, strengthen research and policy intelligence, and focus investments in sectors like agriculture, manufacturing, infrastructure, technology, and entrepreneurship. Olusanya also called for improved infrastructure, reduced business costs, and a focus on skills development to create sustainable employment opportunities.