Experts advocate investments to develop economy

Experts at the Nigerian Economic Summit Group (NESG), in collaboration with Harvard Business School, Rockefeller Foundation and Lagos Business School, have advocated sustainable investments in critical sectors of the economy as part of an effort to boost economic growth and development in the country.

They made the call recently when the NESG hosted a fireside chat featuring Dr Rajiv Shah, President of the Rockefeller Foundation, which was held as part of the book signing for “Big Bets: How Large-Scale Change Really Happens”, which provided a platform for insightful discussions on tackling global challenges.

Dr Tayo Aduloju, the CEO of NESG, emphasised the significance of the book’s recommendations to the formidable problems of the younger generation, offering strategic solutions that promised long-term gains rather than short-term wins.

In her remarks, Ms Florence Okoli, Vice President of the Harvard Business School Association of Nigeria (HBSAN), noted that the event “marked the beginning of future collaborations among the four organising institutions, all united by the mission of making a significant impact, adding that Nigeria required collective efforts from both national and sub-nationals on critical investments in all sectors.”

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On the rationale behind the book, Dr Shah said it served as a reflection on global events and the need for bold and innovative solutions.

Dr Shah highlighted Nigeria’s potential to transition from reliance on generators to cleaner, more affordable energy sources benefiting millions of people.

During the chat, moderated by the President and CEO of The One Campaign and Trustee of Rockefeller Foundation, Mrs Ndidi Nwuneli, Dr Shah addressed the pressing issue of Nigeria’s labour market, where 3.5 million people enter the workforce annually amid economic challenges, while emphasising the need for accelerated renewable energy adoption to support businesses and households.

He also “advocated investment in sustainable power solutions, including nuclear energy, fusion and other renewable sources, as such investments are crucial for developing countries to compete in the global economy and provide viable alternatives for energy access.”