The Nigerian government has again been put to task on looking inwards by harnessing the potentials existing within the local economy.
This is as it makes the business environment conducive for local and international investments.
This was the recommendation by economists and experts at the Nigerian economic summit group’s microeconomic outlook for 2017.
Correspondent Tolulope Ogunjobi reports that in 2016, the Nigerian economy slipped into a recession, forcing businesses into series of shocks.
The trend became worse as the price of crude oil dropped and the country could hardly finance its rising import bills.
This gathering by the Nigerian economic summit group is to know what went wrong and how to take proactive steps to recovery.
Experts here explained that import substitution is key if the country is to meet up with growth and development.
Everyone here agrees that proper implementation of the economic recovery growth plan, monitoring budget processes and curbing insurgency in the Niger delta region will help jump start growth and the dynamics of the year 2017.
