To address Nigeria’s economic challenges arising from global shocks, experts are urging the Federal government to create models and gather sufficient data to elevate the economy to global standards.
The experts made the call at the opening ceremony of a two-day hybrid conference organised by the Nigeria Association of Macroeconomic Modelers in Ibadan.
Global shocks, such as financial crises, pandemics, inflation amongst others have over the years had profound implications on African economies which has resulted in continued economic fallouts.
Worried about how it’s affecting Nigeria’s economy, these scholars are asking policymakers in Nigeria to first understand these shocks and then explore viable solutions for navigating the challenges.
The Keynote speaker says that the Nigerian government must first improve the productivity of the Nigerian economy by undertaking policies and programmes that will solve the fundamental problems.
The programme is entitled “Global Shocks and the Emerging Economic Fallout: Implications and Options for African Economies and the speaker identified the various various shocks as both global and domestic.
As Nigeria continues to grapple with its own share of the shock, the Nigerian government is been advised to explore strategies that will strengthen economic resilience.
