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Oct 2025
How Nigeria can shift from consumption to production economy — AfDB adviser
The Senior Special Adviser to the President on Industrialisation at the African Development Bank Group, Prof. Banji Oyelaran-Oyeyinka, has urged Nigerian leaders to adopt a deliberate national strategy to transition the country from a consumption-driven economy to a production-oriented one, warning that continued dependence on imports and raw material exports will perpetuate poverty.
Oyelaran-Oyeyinka, who was the guest speaker at the Nigerian Society of Chemical Engineers’ Fellows Confab 2025, themed “From Consumption to Production Economy in Nigeria — The Pathways,” on Thursday, said Nigeria must urgently reverse its over-reliance on crude oil and imported goods if it hopes to achieve inclusive growth and stability.
He noted that the consequences of being a ...
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