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Nigeria to boost economy with knowledge from rebasing

By BusinessNews Staff on August 28, 2014

The federal government has disclosed that the knowledge acquired from the recent rebasing exercise will help the country to grow and diversify the economy as well as increase job opportunities for the youths.

The Vice-President, Alhaji Namadi Sambo, who represented President Goodluck Jonathan on Monday at an award ceremony by the National Productivity Centre for 15 individuals and three organisations in Abuja, said the nation’s Gross Domestic Product (GDP) is now $510 billion, making it the largest economy in Africa and 26th in the world.

According to the News Agency of Nigeria (NAN), Sambo said: “Nigeria is blessed with abundant natural resources, we had and still have all that is required to rank among the 20 largest economies in the world.

“The significance of today’s occasion lies in the need to revive and inspire our country men and women to pursue the ideals of higher productivity in every sphere of our personal, corporate and national life.

“Against this backdrop, my administration has approved a national policy on productivity in February 2012, the first in our country’s history. This policy seeks to provide for all types of government, a systematic and comprehensive roadmap, a charter for ensuring a planned and balanced, deployment of material and human resources for the benefit and common good of all Nigerians.

“In spite of the daunting challenges, our efforts are yielding positive results. In 2013, we experience 7.41 per cent in the growth rate of the economy. Power supply is steadily improving and we have our trains back on track with newer more modern system.”

The president congratulated the awardees for their inspirational work and commitment to excellence and reminded them that this a ward places greater obligation on you to give your best to your country.
“This administration needs men and women like you to help build a virile and economically developed nation,” he said.

The Director General, National Emergency Management Agency (NEMA), Mohummed Sani Sidi, who was presented with the award of the National Productivity Order of Merit (NPOM), expressed appreciation, saying, “It is impressive that an important institution like the National Productivity Centre has taken a keen interest in the activities and performances of agencies of government and the private sector and rewards them to propel them to greater heights. I hereby dedicate this award to our teeming stakeholders, too numerous to mention, for supporting us in the onerous task of disaster management in Nigeria.

“The agency was recognised for its mpressive and timely responses to disasters as well as the success it has achieved in the promotion of disaster risk reduction in the country.”

“The 15 individuals and three Organisations who are this year’s conferees of this distinguished award have after rigorous screening, been adjudged exceptionally productive by the National Productivity Order of Merit Award Committee.”

[This Day]

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