Investors await Nigeria's economic recovery plan

As investors eagerly await the unveiling of Nigeria's economic recovery growth plan aiming to rejuvenate the economy and prioritize human capital investment, Bolaji Balogun, CEO of Chapelhill Denham, shared his insights on the government's strategies for economic growth. Balogun expressed his concerns about the extensive nature of the document, particularly emphasizing the delayed focus on infrastructure development, which he believes is essential for attracting investments and propelling economic growth. He highlighted the importance of infrastructure in transforming agriculture and mining sectors into high-value industries, stressing the need for significant investment in power and transportation networks. Despite acknowledging the positive aspects of the plan, Balogun underscored the necessity for better communication and stakeholder engagement to garner support for crucial economic measures such as tax reforms and access sales. The interview shed light on the challenges and opportunities facing Nigeria's economic recovery plan, emphasizing the urgency of swift progress to uplift millions living below the poverty line. While the government aims to increase capital expenditure to 30% of the budget, Balogun called for accelerated development and enhanced private sector participation to achieve sustainable growth and create a conducive environment for investment.