Why Nigeria’s socio-economic progress is slow

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The Nigerian Economic Summit Group, NESG has Why Nigeria’s socio-economic progress is slow, citing bureaucracy and outdated systems as bottlenecks for the country’s economic progress.

The group also identified corruption as a major obstacle to building public trust and ensuring the effectiveness of Nigeria’s public institutions.

Jakpor stated that the NESG advised stakeholders to, as a matter of urgency, boost transparency, improve efficiency, promote coordination and invest in human capital as essential steps to enhance the capacity of Nigeria’s public institutions. “The Think Tank, whose 29th Summit will be exploring the subject as a sub-theme, said the state of Nigeria’s public institutions plays a crucial role in driving socio-economic growth. It however added that bureaucratic bottlenecks, outdated systems, and limited human resources further hinder the timely and effective delivery of public services, and ultimately, socioeconomic progress.

He further stated, “The NESG also advised stakeholders to, as a matter of urgency, boost transparency, improve efficiency, promote coordination, and invest in human capital as essential steps to enhance the capacity of Nigeria’s public institutions.”

 

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