The Nigeria Economic Summit Group (NESG) has urged the Federal Government to base its economic growth agenda on productivity rather than inflation management.
In a report on the outcome of the Gross Domestic Product (GDP) rebasing exercise recently conducted by the National Bureau of Statistics (NBS), NESG described the development as more than a recalibration of figures, but a diagnostic scan exposing structural imbalances and fiscal vulnerabilities.
“While the upward revision in nominal GDP expands the statistical size of the economy, the real economy—where jobs, productivity, and welfare are determined—remains constrained. Closing this gap requires a coordinated, multi-pronged policy response that addresses both immediate recovery and long-term transformation,” NESG said.
The group stressed that real GDP growth of only 4.4 percent since 2019 underscores the urgent need for targeted interventions.
It recommended sector-specific competitiveness programmes, industrial policy reforms, and technology adoption in agriculture and manufacturing as strategies to unlock value-added growth in sectors with high employment multipliers.
NESG emphasized that Nigeria’s long-term resilience depends on boosting productivity across strategic sectors to deliver inclusive growth and sustainable development.
