Governor Chukwuma Soludo of Anambra says Nigeria needs an annual economic growth of at least nine per cent to significantly reduce poverty and create jobs.
He made the assertion at the Nigerian Economic Summit 32 (NES32) with the theme “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity” in Abuja on Monday.
He said that Nigeria’s current growth rate of about four per cent remained inadequate to achieve rapid poverty reduction and employment generation.
The governor also said that Nigeria would require an annual growth of at least 12 per cent to achieve a one-trillion-dollar economy by 2030 or 2040.
He added that the country’s investment rate, estimated at 17 to 20 per cent, must rise significantly to support the required economic expansion.
Soludo cautioned against being misled by large nominal spending figures, saying that consolidated public expenditure across all government levels amounted to less than one dollar per person daily.
He stressed the need to channel ...
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