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COMMUNIQUE OF THE 56th ANNUAL CONFERENCE OF THE NIGERIAN ECONOMIC SOCIETY (NES)

COMMUNIQUE OF THE 56th ANNUAL CONFERENCE OF THE NIGERIAN ECONOMIC SOCIETY (NES)

 

Abstract: I. Background

Several development economics discourses and communications such as the World Economic Forum on Africa held in Nigeria in 2014, the study by the Mckinsey Group International (MGI) Nigeria Office on Delivering inclusive growth in Nigeria, the 2015 World Bank Report on Jobs, More Productive Jobs for Nigeria and the letter and spirit of the recently adopted Sustainable Development Goals suggest that Nigeria urgently requires structural transformation to deliver on inclusive growth. The elements of this transformation include: ample world class physical infrastructure; rapid agriculture-led industrialization; generation of ample decent productive employment opportunities for the teeming youthful population; supportive income redistribution and safety nets programmes and policies; and, careful de-concentration of markets and industry;
The current disconnect between high economic growth and widespread poverty requires that future aggregate and sectoral growths become more participatory and contributory, as well as ensure maximisation of high-productivity activities among the labour force, while optimally combining macroeconomic stability, human capital development and structural changes incorporating the poor, who have traditionally been left behind, by rendering them active participants in the growth process.
The prospects for inclusive growth have been constrained by inadequacies in the areas of infrastructure, governance, security, low level of skills of young Nigerian graduate workers, their job readiness and experience. The 2015 NES Annual Conference on “Attaining Inclusive Growth in Nigeria: Challenges and Prospects” is, therefore, a clarion call to adopt concrete measures towards the effective realization of inclusive growth in Nigeria. The conference, in line with its primary objective, assembled national and international intellectuals and professionals to identify, discuss and communicate contextually relevant and workable measures necessary to surmount the challenges and exploit the prospects of inclusive growth.

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