Economic growth must improve livelihoods, says new NESG chair

The incoming Chair of the Nigerian Economic Summit Group (NESG), Omoboyede Olusanya, has emphasized that Nigeria's economic growth must prioritize the improvement of livelihoods, rather than focusing solely on impressive growth figures. Speaking at the 32nd Nigerian Economic Summit, held in Abuja, Olusanya stated that economic performance should be measured by its impact on ordinary Nigerians, not just by macroeconomic indicators.

He stressed that growth must translate into poverty reduction and expanded opportunities, benefiting farmers, manufacturers, graduates, and businesses by increasing incomes, reducing production costs, securing decent jobs, and improving access to affordable financing. Olusanya also highlighted the importance of addressing tangible issues such as improved nutrition, healthcare, and education as part of economic development.

He identified agriculture, manufacturing, infrastructure, technology, entrepreneurship, and skills development as priority sectors for investment mobilization and pledged to expand economic opportunities across Nigeria's states, particularly for micro, small, and medium enterprises and informal-sector businesses. The incoming NESG Chair outlined five commitments to ensure that policy reforms translate into measurable outcomes, including strengthening accountability and building evidence-based recommendations aligned with the National Development Plan 2026-2030.