“If we harness our resources well, Nigeria should be a developed country, not a developing country.” Nigeria Economy
AIG, a not-for-profit founded to inspire the transformation of Africa’s public sector, in collaboration with the Blavatnik School of Government, University of Oxford, hosted a virtual discussion on COVID-19, themed: “COVID-19 and the Oil Price Crash: Nigeria’s Tough Choices.”
According to them, Nigeria is faced with a double-edged crisis comprising COVID-19 on the one hand, and instability in oil prices on the other. He opined that the government should focus on encouraging growth in the informal sector to boost the economy, as the sector is a major contributor to the Nigerian economy, accounting for a significant portion of employment and national GDP.
He noted that the fall in oil prices pose an opportunity for Nigeria to advance the diversification of her economy finally.
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