Group Tasks Federal Govt On Diversification Of Nigeria’s Economy

The Advocacy for Good Ethics Accountability Development (AGEAD) has called for concerted efforts to diversify the nation’s economy.

The executive director, Mr. Henry Thomas, made the call during the second edition of the National Legacy Summit themed: “Diversification of Nigeria Economy; The Only Hope for National Development” held yesterday in Abuja.

Thomas emphasised the need to tackle the economic challenges faced by the nation, lamenting the dire state of the nation’s economic development and the resultant hardships faced by citizens.

He said the event, an annual initiative, was inaugurated last year, focusing on ensuring a peaceful 2023 general election through the “Vote In Peace (VIP)” campaign.

Thomas said despite other challenges, the 2023 election was relatively peaceful, marking a successful endeavor of the summit’s maiden edition.

Reflecting on Nigeria’s economic trajectory, Thomas highlighted the country’s abundance of natural and human resources, lamenting the adverse impact of oil’s dominance since its discovery in 1956.

 He stressed the need for innovative solutions, advocating a shift away from oil dependence towards sectors like agriculture, mining, culture, tourism, and technical education for national growth.

In alignment with the summit’s theme “Nigeria Beyond Oil,” Mr. Thomas called for collective support for the advocacy for good ethics and accountability development initiative, urging a return to foundational sectors to steer the nation towards prosperity.

A keynote speaker, Comrade Okpanachi Jacob stressed the pivotal role of agriculture in combating food insecurity and boosting sectoral income. 

He urged increased government budgetary allocation, enhanced extension services, policy interventions for farmers, mechanisation, and foreign direct investment as vital strategies for agricultural development.

He also called for collective action by experts and thought leaders to set a clear agenda for Nigeria’s economic transformation, placing emphasis on recalibrating towards sustainable sectors to foster national development and progress.