Nigeria has failed to take Advantage of its Young Population - Alhaji Abdulazeez Mikhail

Nigeria has failed to take Advantage of its Young Population - Alhaji Abdulazeez Mikhail 

Kathy Kyari 

According to Alhaji Abdulazeez Babatunde Mikhail, the immediate past National Secretary of the Association of Nigerian Licensed Customs Agents, ANCLA, Nigeria is not even close to capitalizing on its youthful population, since the government hardly makes any investments in human resources.

Mikhail spoke on the theme "Nigeria Economy: Bridging the Productivity Gap with Resilience" at his keynote address at the 5th Global Leadership Summit & Awards in Lagos on Thursday. 

He asserts that Nigeria's quick economic growth and development depend on high productivity in the country's industrial, agricultural, and service sectors. 

He proceeded to state that shifts in the relative weights of industry and agriculture have been identified as the fundamental components of the growth process and the manufacturing sector's involvement in industry seems to be the key to the current economic growth.

According to Mikhail, Nigeria's development issues necessitate a fresh approach to policymaking and the creation and execution of cutting-edge development plans that are based on boosting productive capacity. Adding that this ought to indicate a move away from project- and sector-specific, short-term initiatives.

"The analysis of Nigeria’s PCI clearly indicates an urgent need to refocus policy interventions and national development strategies towards fostering domestic productive capacities, which will enable structural transformation and economic diversification. Furthermore, they will ensure that the country participates in value added segments of the global economy, rather than serves as a commodity supplier".

"Building domestic economy-wide productive capacities requires special attention to be paid to building institutions which will govern the rules of economic conduct. This is needed to make it attractive for business to invest, develop and operate". 

"For this, improvements in the quality of human capital are also necessary, and only possible through the implementation of an adequate educational policy able to cater for the needs of the market and one which anticipates changes and shifts in the assortment of output of the national economy. Lastly, a focus on infrastructure development – that is transport, energy, and ICT -is imperative, as it facilitates economic interactions". He said 

In addition, Searchlight Media presented Alhaji Abdulazeez with an award in recognition of his outstanding leadership and dedication.

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