Chike-obi: Why Nigeria Must Target Double-digit Growth

The Economic Adviser of the Atiku Campaign Organisation and former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Mustapha Chike- Obi, has reiterated the need for Nigeria to aim at achieving double-digit growth in its Gross Domestic Product (GDP).

Chike-obi, who spoke on ‘The Morning Show,’ on Arise TV, a THISDAY sister broadcast station, stressed that the slow pace of economic growth, Nigeria would not be able to lift most of its citizens out of poverty.

“If we are not growing our GDP at 10 per cent or higher for the next 10 to 15 years, we would never get the kind of national wealth that would lead the masses out of poverty. Anything else is trivial.

“People talk about corruption all the time and I did a calculation, the maximum amount of money that is possible to steal from the federal government is an easy calculation and its about N500-N800 billion.

“But one per cent of GDP growth is roughly N1 trillion. So we are spending all our energy, focusing on N500-N800 billion of possible corruption and ignoring the fact that if we grow our GDP by three or four per cent higher, the national wealth that would accrue to us is about N5 trillion”.

ThisDay, Wednesday 13, February.

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