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Thursday 29 September 2022
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AfDB counsels Nigeria on economic development

The African Development Bank (AfDB) has urged Nigeria to re-evaluate its development strategy in order to achieve inclusive growth that will impact positively on the majority of the people.

The private Guardian newspaper Tuesday quoted a senior official of AfDB as saying that though Nigeria has been recording impressive growth in the last ten years, the benefits are yet to be felt, particularly in the creation of jobs.

“In Nigeria, over the past years, reform has been engaged in successive administrations since the democratic dispensation began in 1999, all of which have led Nigeria to record over the years a very respectable macro-economic performance.

“We think there has been a deceleration of growth in 2012. Growth was really 7.43 per cent in 2011. It reduced to 6.58 per cent in 2013. We expect growth this year to be at 6.8 per cent. If you look at over the decade, growth has been at about seven per cent,” AfDB’s Country Representative in Nigeria Ousmane Dore said in the capital city of Abuja.


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