The Minister of Budget and National Planning, Senator Udo Udoma, on Tuesday, said that the Nigerian economy must record a growth rate of at least three per cent for the people to significantly enjoy the benefits associated with economic growth.
He said this during a media briefing on the 24th edition of the Nigerian Economic Summit.
The summit, scheduled to hold on October 22 and 23 in Abuja, has as its theme ‘Poverty to prosperity: Making governance and institutions work’.
Udoma, while responding to a question on why Nigerians had yet to feel the impact of economic growth despite the country’s exit from recession, said the population, which is growing at an average of three per cent, had made it challenging for the Gross Domestic Product growth rate to be inclusive.
For instance, he said since the country’s exit from recession, the rate of growth had not increased above the population growth rate.