19 April 2017
The Federal Government of Nigeria recently introduced fiscal changes including a new Economic Recovery Plan. Channels TV, a leading and award-winning Nigerian TV station, interviewed Prof Kenneth Amaeshi to gather his expert opinion on sustainable development in the country.
As part of the Channels TV Business Morning Show, Prof Amaeshi responded to questions on the Federal Government’s new Economic Recovery Plan including the policies and steps needed to achieve sustainable development in Nigeria. He commented that the plan is progressive, a step in the right direction and a bold and holistic initiative to tackle some of the issues around Nigeria’s sustainable development. There are, however, current challenges facing the country – including external pressures on the country and continent such as Brexit and Trump.
He argued that the country is now in a volatile, uncertain, complex and ambiguous (VUCA) situation. The plan is a positive step but it is important to think about the implementation and time scales associated with this implementation. Continuity is key to sustainable development. The interview then explored the sustainable development goals (SDGs) and Nigeria’s progress in comparison to other countries as well as prospects going forward.
Prof Amaeshi then responded with his thoughts on different aspects and initiatives already in place, which have been positive and negative. He outlined recent sector specific approaches that have worked well but also reminded viewers that it is important to ensure that any new initiatives are specific to the Nigerian and African context. He suggested Africapitalism as a new philosophy that can underpin economic growth across Africa. Finally, the interview discussed roles of regulators in Nigeria and how the impact of Nigeria’s main regulators can help drive forward sustainable development and the SDGs.