By Abbati Bako
abbatibako@gmail.com
+2349077889959
As the world grapples with the challenges of a global economic squeeze, Nigeria finds itself at a critical juncture. With President Bola Ahmed Tinubu at the helm, the country is poised to navigate the complexities of the global economy and carve out a path to prosperity.
The importance of a stable economy cannot be overstated. It is the backbone of human existence, providing the foundation for individuals and nations to thrive. Without a viable economy, life becomes a struggle, and opportunities for growth and development are severely limited.
In Nigeria’s case, the economy has been plagued by numerous challenges, including inflation, unemployment, and a crippling infrastructure deficit. However, with President Tinubu’s Renewed Hope Agenda, there is a sense of optimism in the air. The administration’s 8-point agenda provides a clear framework for economic policies and programs, focusing on job creation, economic growth, food security, and poverty eradication.¹
One of the key drivers of Nigeria’s economic growth is its foreign policy direction. President Tinubu’s 4-D Diplomacy Strategy has been instrumental in promoting democracy, driving economic development, harnessing Nigeria’s demographic potential, and engaging with the Diaspora community. This approach has yielded significant economic gains, including the attraction of foreign direct investments (FDR) and the strengthening of partnerships with multilateral organizations. Foreign Direct Investment is an imperative part of economic growth and development. And again, navigating the current global economic direction based on the globalization policy will pave the way for the Nigerian nation to prosper.
As Nigeria navigates the global economic landscape, it is essential to recognize the importance of economic integration. The world is increasingly interconnected, with global economic interplay reaching $1.08 trillion daily. Nigeria must position itself to take advantage of these opportunities, leveraging its vast resources and strategic partnerships to drive economic growth and development.
In conclusion, Nigeria’s economic future is bright, but it requires careful navigation of the global economic landscape. With President Tinubu’s leadership and the Renewed Hope Agenda, the country is poised to overcome its economic challenges and unlock a brighter future for all its citizens.
*Key Recommendations for President Bola Tinubu:
*Diversify the Economy:
Reduce dependence on oil exports and promote economic diversification to drive growth and development.
*Invest in Infrastructure:
Prioritize investments in critical infrastructure, including power, transportation, and telecommunications, to support economic growth
*Promote Economic Integration:
Strengthen partnerships with multilateral organizations and leverage global economic interplay to drive economic growth and development.
*Support:
Entrepreneurship and Innovation: Encourage entrepreneurship and innovation, particularly among young Nigerians, to drive economic growth and job creation.
To continue Insha’Allah
Abbati Bako,political strategy and communications consultant and PhD,. Scholar @Skyline University Kano, Nigeria
