The Nigerian Economic Society (NES) has issued a clarion call to Nigeria and other African nations to embark on bold transformations in agriculture, trade, and energy, identifying these sectors as critical for sustainable economic growth and social prosperity.
Speaking at a press briefing in Abuja on Tuesday, NES President, Adeola Adenikinju, emphasized that Africa is not short of talent, innovative ideas, or entrepreneurial grit.
Instead, he stressed, the key challenge lies in translating these strengths into tangible improvements in the daily lives of citizens.
“Africa’s external socio-economic environment remains uncertain amidst global trade tensions and geopolitical shocks.
While projections suggest moderate economic growth for Nigeria and the continent, these estimates still fall short of what is required to lift citizens out of poverty.
One in every three Africans continues to live below the poverty line,” Adenikinju said.
He highlighted that achieving meaningful economic and social prosperity requires more than macroeconomic stability.
“It requires sectoral transformation in our core growth sectors such as agriculture, trade, and energy.
Coupled with well-designed social protection systems, this approach can create pathways for ambitious yet realistic economic progress,” he added.
The NES President announced that the 66th annual conference of the Society, scheduled to hold from September 8 to 11, 2025, will focus on identifying actionable strategies for economic transformation and social inclusion in light of global economic shifts.
The conference theme, “Rethinking Africa’s Development,” aims to pivot the continent away from dependence on volatile commodity cycles and foreign aid.
Instead, the NES envisions a framework anchored in investment, economic diversification, and institutional efficiency.
Adenikinju noted that the conference will also explore regional integration as a practical strategy to reduce business costs and expand consumer choices, not just a diplomatic exercise.
“We must have the courage to pursue reforms that may be difficult, while protecting the vulnerable during transition periods,” he said.
Through the conference, NES intends to produce evidence-based recommendations for policymakers, researchers, and practitioners. These insights will address pressing challenges such as:
Securing macroeconomic stability amidst global uncertainty
Unlocking diversification and competitiveness in key sectors
Building resilience against economic and environmental shocks
Ensuring that economic growth translates into inclusive prosperity
The Society insists that actionable reforms in agriculture, energy, and trade are essential for long-term progress.
Strengthening agricultural value chains, promoting renewable and efficient energy solutions, and boosting trade competitiveness are central to enhancing livelihoods across the continent.
NES stressed that Africa’s agricultural sector, despite abundant arable land and entrepreneurial farmers, suffers from underinvestment, poor infrastructure, and low adoption of technology.
Investment in modern farming techniques, mechanization, and agri-tech solutions is critical to increasing productivity and ensuring food security.
Similarly, the NES highlighted that energy remains a bottleneck for industrialization.
Expanding access to reliable and renewable energy sources will not only reduce production costs but also attract foreign and domestic investments, creating jobs and stimulating innovation across sectors.
Regional trade, according to NES, offers enormous potential for economic diversification.
Removing trade barriers, improving logistics, and strengthening regional supply chains can empower African businesses to compete globally while boosting domestic consumption.
Adenikinju concluded, “Nigeria and Africa have the human and intellectual resources to lead.
What is required now is political will, smart policy implementation, and strategic investments that ensure growth reaches all citizens.”
The NES continues to advocate for evidence-based economic policies, urging governments and stakeholders to take decisive steps in transforming Africa’s agriculture, trade, and energy sectors as the foundation for a prosperous and inclusive future.