Lucas Nwachukwu

Lucas Nwachukwu

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Harnessing and Implementing the Resolutions of Economic Summits and Conferences for Growing Nigeria’s Economy: 47th G7 Summitand 7th Tokyo International Conference on Africa Development-Ticad 2019 in Perspective - by Nwachukwu Lucas Emmanuel

Harnessing and Implementing the Resolutions of Economic Summits and Conferences for Growing Nigeria’s Economy: 47th G7 Summitand 7th Tokyo International Conference on Africa Development-Ticad 2019 in Perspective - by Nwachukwu Lucas Emmanuel

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While we pursue these economic aspirations, we must leverage on technology for digital transformation, the need for transformative technology to further innovations cannot be overlooked as we strive to be among the best economies in the world. While Nigeria may consider the options aforementioned, there is even a bigger problem of the will to implement because of high level of corruption in the system. The IMF study estimates that the impact of 1 point change in the corruption index results in a 1.2 percentage point change in economic growth per annum. Therefore, the impact on economic growth from a simulated decrease in corruption will impact on growth of the country’s economy.To effectively implement decisions reached at these gatherings, Nigeria needs political stability and strength of public institutions among others and this can significantly improve the economy and the lives of Nigerians.

 
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