Nigeria’s economic landscape has faced significant challenges, as highlighted by Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization.
She pointed out that since 2014, the country’s average GDP growth rate has been negative, marking a stark contrast to the previous decade when it averaged around 3.8%.
This downturn is alarming, especially considering that it has occurred against a backdrop of rising population growth, which has outpaced economic gains.
Okonjo-Iweala emphasized the need for consistent and effective economic policies, regardless of the political party in power.
The inability to maintain positive growth has left many Nigerians grappling with declining living standards.
She urged the government to prioritize sustainable economic strategies to reverse this trend and improve the lives of citizens.
The call for action reflects a broader concern for Nigeria’s economic stability and the urgent need for reforms to foster growth and development in the coming years.