By kawaekwune Jeffrey
Dr Titus Okunrounmu, a former Director of the Budgetary Department at the Central Bank of Nigeria (CBN), has called on the Federal Government to maximize the country’s natural resources to promote economic growth. His comments came after the National Bureau of Statistics (NBS) revealed a slight improvement in Nigeria’s GDP, which rose from 2.98% to 3.19% in the second quarter of 2024.
In an interview with the News Agency of Nigeria (NAN) in Ota, Ogun State, Okunrounmu emphasized that Nigeria’s economy could achieve greater heights if the country’s resources were managed effectively. He also highlighted that economic development would require addressing corruption, which remains a significant barrier.
Okunrounmu suggested increased investment in infrastructure, which would allow small and medium enterprises (SMEs) to flourish. He noted that SMEs are vital to any nation’s economic prosperity.
The financial expert further stressed the importance of tackling insecurity across Nigeria to ensure inclusive growth, especially in regions facing instability. Many analysts have interpreted the recent GDP growth as a sign of recovery, exceeding the 2.51% recorded in the second quarter of 2023.
