How to solve Nigeria’s unique challenges

President Muhammadu Buhari has charged public and private sector leaders to look inward to solve the unique challenges confronting the nation’s socio-economic development.

Buhari who gave the charge on Monday why declaring open the 25th Nigerian Economic Summit (NES25) in Abuja also pledged that his administration will continue to collaborate with the private sector in designing and implementing developmental projects that will keep Nigeria on track for sustained, inclusive and prosperity driven growth.

In his speech at the opening of the 2-day Summit, the President said the successful conclusion of 2019 general elections and the resort by aggrieved candidates to seek redress in the courts rather than the street was proof that Nigeria‘s ‘‘democracy is maturing.’’

‘‘In your deliberations, I would request that your proposals are productive, inventive and innovative keeping in mind that Nigeria’s unique challenges can only be solved by made in Nigeria solutions,’’ he said.

Reflecting on the manifesto of the All Progressives Congress (APC) party, the President noted that his administration’s economic policies in the last four years focused on the need to uplift the poor and the disadvantaged and encourage inclusivity.

‘‘Our party, the APC, put before the country policies that focus on delivering prosperity to all Nigerians through enhancing security; eliminating corrupt practices in public service; supporting sectors that will create jobs; and promoting socially focused interventions to support the poorest and most vulnerable among us.

‘‘These areas are all interconnected and are equally important in creating a prosperous society for all,’’ he said.

Underscoring the importance of collective prosperity, President Buhari asserted that a prosperous society is one where majority of its citizens have an acceptable standard of living.

‘‘A significant proportion of Nigeria’s prosperity today is concentrated in the hands of a few people living primarily in 4 or 5 States and the FCT. Some of the most prosperous Nigerians are here in this room.

‘‘This leaves the remaining 31 States with close to 150 million people in a state of expectancy and hope for better opportunity to thrive. This, in the most basic form, drives the migratory and security trends we are seeing today both in Nigeria and across the region.

‘‘This shift implies that the concept of having competitive free markets that focus on wealth creation alone will be replaced by those that propagate the creation of inclusive markets which provide citizens with opportunities that will lead to peaceful and prosperous lives,’’ he said.

On the focus of this year’s economic summit which is discussing what Nigeria would be in the year 2050 when many studies estimate the country’s population will rise to over 400 million people, the President said:

‘‘As a government, our view is to equip our citizens with the means to seize any opportunities that may arise.

‘‘This means we continue investments in education, health care, infrastructure, security and strengthen and entrench the rule of law.’’