Nigerian Economists Push for Oil Boost, Small Business Support Amid Economic Growth

Economists in Nigeria are urging the government to take steps to boost crude oil production and support small businesses, which they believe will help sustain economic growth. Sherifdeen Tella of Babcock University suggests increasing oil output by addressing saboteurs and enhancing export quotas.

Tella also emphasized the importance of agriculture, recommending that more funds be allocated to subsidize agricultural production to combat food inflation and ensure social stability.

Another economist, Ndubisi Nwokoma of Caleb University, highlighted the need for greater support for micro, small and medium enterprises (MSMEs), citing their critical role in domestic economic growth. He suggested that reducing the cost of governance could help redirect funds to MSME development.