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Why we’re promoting economic growth, by group

Why we’re promoting economic growth, by group

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The Under 40 CEOs Forum, has explained its determination to promote economic growth.

The 2018 edition of the event which held last week in Lagos , had accomplished professionals and emerging business leaders share perspective on the theme “Wealth Creation, Management and Inclusion – Innovative Strategies To Induce Economic Prosperity.”

Oby Ezekwesili, former World Bank Vice President—Africa Region, who was among the speakers, noted that investment in human capital, not oil, will drive Nigeria’s economic growth.

An erstwhile Minister of Education, and 2019 presidential candidate of the Allied Congress Party of Nigeria (ACPN), Ezekwesili harped on the urgent need for human capital development via investment in education, which she described as the new oil. She said local productivity and competitiveness have to improve if the economy must grow, and that this only achievable through human capital development.

She noted: “As a country blessed with enormous human and natural resources, it is regrettable that we have wasted five cycles of oil boom, according to available data. We really need to disrupt the pattern we have followed because our prosperity would have come by now if it were to come from oil. So the best thing to do is to say let us find a new trajectory.”

“With too much dependence on oil, our economy is so volatile that we basically have a situation where the country’s fortune goes up and drops.

 

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