Report-on-the-Sixteenth-Nigerian-Economic-Summit-2010

PLENARY II: STEWARDSHIP OF THE NIGERIAN ECONOMY:
DIALOGUE WITH THE ECONOMIC MANAGEMENT TEAM (EMT)
Preamble
In recent years, a stakeholder approach had been deployed in the management
of the nation’s economy through the establishment of the Economic
Management Team (EMT) under the Minister of Finance. This interactive
session focused on the key economic priorities: growth, increasing budget
deficit and high unemployment rate, inadequate infrastructure and its adverse
impact on Nigeria’s manufacturing sector as well as the overall economy.
Backrgound Presentation
State of the Economy and Activities of the NEMT – Mr. Olusegun
Aganga
Mr. Olusegun Aganga noted that it was time to talk about the Nigerian
economy, knowing well that the private and public sectors owned the economy.
Having given the background of the activities of EMT, as well as critical
stakeholders’ contribution, he delivered his presentation as follows:
Where we are (Nigeria today)
Areas of focus
Refocusing the economy
Progress to date
Next steps
Where we are
On where we are, he stated that Nigeria’s real GDP growth was robust, despite
challenges in the areas of infrastructure and the recent global economic
recession.
Comparing the Nigerian economy growth rate (real GDP) to other countries
such as China and India, he observed that Nigeria’s GDP grew from 6 per
Nigerian Economic Summit 23