2. ABSTRACT
“Growth and development depends upon activity. There is no development without effort, and
effort means work” (Calvin Coolidge). For any nation like Nigeria to attain a desirable or
laudable level of development there must be effective application of the nation’s resources. This
paper examines various creative and management solutions that can stimulate inclusive growth
and development in line with the change agenda of the federal government.
Keywords: Growth, development, government, economy, resources and productivity.
INTRODUCTION
Nigeria, the largest economy in Africa and with about 170 million inhabitants has had a troubled
history. Following a century and a half of colonialism, it gained independence from the Britain in
1960. Seven years later, the country was embroiled in civil war. Military coups and rule by
military juntas alternated with democratic‑ regimes until democratic elections in 1999 and 2003
ushered in an era of relative stability. But poverty rates have remained stubbornly high
(McKinsey, 2014). However, Nigeria has begun to write a new story from 2015, “a story of
youths creating jobs and expanding the frontiers of innovation from Marvin Records to Co-
creation Hub, a story of a permanent shift from debilitating dependence on the free-falling price
of crude oil”(Muhammadu Buhari, 2015). The Change agenda of the Federal Government
includes tackling corruption, safety of citizens, sustainable infrastructure, healthcare, education
and reduction of unemployment. Many solutions have been established in the past over 150 days
of the new administration to help in managing the resources of the nation in order to raise the
pace of growth and enlarge the size of the economy, while leveling the playing field for
3. increasing productivity . Nonetheless, more creative and management solutions can be employed
by the government to create solid foundation for inclusive growth and national development in
the country.
THE FEDERAL GOVERNMENT CHANGE AGENDA AND THE NATION’S
RESOURCES.
President Muhammadu Buhari, GCFR pledged to create a country where corruption is tackled,
no one will have to fear for safety, citizens get the basics that any country should provide, jobs
are provided for the youths and the economy and wealth are expanded aggressively. Competent
ministers have been assigned portfolios to form the 36-cabinet members in a bid to achieve this
agenda. Vice President Prof Yemi Osinbajo even sought for the support of traditional rulers in
the accomplishment of this change agenda especially in the crusade against corruption
emphasizing that Nigerian cultures abhor corruption (Laolu Akande, 2015). Nigeria is a nation
blessed with abundant resources. Although Nigeria is densely populated, this doesn’t preclude
the sufficiency of these resources. The fact that China and India, the two countries with largest
populations on earth, have the fastest growing economies in the world is evidence that the size of
the population of a country is not a barrier to development (Sa’idu Sulaiman, 2008).
CREATIVE AND STRATEGIC MANAGEMENT SOLUTIONS FOR INCLUSIVE
GROWTH AND NATIONAL DEVELOPMENT
The practice of inclusive growth and development requires widening the lens through which
priorities are set in national economic strategies. Macroeconomic, trade and financial stability
policies remain critically important as they establish the conditions necessary for improvements
in productivity that help drive growth. But institutional development in other areas is just as vital
to broad-based progress in living standards and consequently deserves equal emphasis in
4. national economic policy. The cultural change that such a rebalancing of emphasis would require
in governments and classrooms should not be underestimated (Richard Samans, et.al, 2015).
Many other creative and management solutions can be implemented, such as provision of
necessary infrastructures through fiscal and monetary policies, removal of unnecessary barriers
to doing business and qualitative security measures.
If the right policy mix (fiscal, monetary) is employed, Nigeria has the potential of achieving
7.1% annual GDP growth and could make a top-20 economy in 2030, with rebased GDP of more
than $1.6 trillion. However, the policy must include a rapid infrastructural expansion through the
investment of up to $1.5 trillion (McKinsey, 2014). This shows the importance and urgency of
infrastructures financing as identified in KPMG Infrastructure Insight Application.
Also, According to the World Bank’s Doing business report, it takes 13 procedures to register a
property in Nigeria and costs more than a fifth of property value. Approval by the state governor
is required, and that takes an average of two months to secure. Although the Nigerian business
environment is suffering from corruption (being the 144th
out of 177 countries on Transparency
International’s 2013 Corruption Perception Index) yet the case of a difficult regulatory processes
is a barrier to innovation and creativity in business growth and entrepreneurial development.
Furthermore, the Minister of Defence, Mohammed Dan Ali and all stakeholders in security
issues should seek to establish strong security network. Efficient preventive measures should be
put in place at the sight of any security threats. For example, U.S plan to increase security
especially on international flights by U.S carriers after the suspected bombing of a Russian plane
flying over Egypt on October 31, 2015. Security is ‘survival-plus' and the word 'plus' could be
understood from the standpoint of being able to enjoy some freedom from life- determining
5. threats and some life choices (Booth, 2007: 15). It is this steady security state that will attract
both companies and human capital to the country.
CONCLUSION
These creative solutions, among others if properly implemented are indeed suitable for
empowering inclusive growth and development of the Nigerian state. The 2015-2018 civilian
regime thriving in an atmosphere of change will then be the “rock bottom” upon which the future
of Nigeria will be built.
REFERENCES
1. McKinsey Global Institute (July, 2014): Nigeria’s renewal: Delivering inclusive growth
in Africa’s largest economy.
2. Sa’idu Sulaiman (2008): Rich nation, poor citizens: The Missing Links for Increasing
Output and Alleviating Poverty in Nigeria.
3. Wold Economic Forum (2015): Insight Report, Inclusive Growth and Development
Report.
4. http://www.statehouse.gov.ng/index.php/news/1486-nobody-has-a-right-to-pocket-
public-money-vp-osinbajo
5. http://leadership.ng/news/474185/ministers-that-will-drive-buharis-change-agenda
6. http://thenationonlineng.net/2015-five-point-agenda-buhari/
