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By Chukwuma Umeorah
As experts continue to search for solutions to Nigeria’s challenging economic realities, Professor of Sustainable Finance at the European University Institute, Florence, and Chief Economic Adviser to the Imo State Government, Kenneth Amaechi, has stressed the need for a practical approach to foster ground-up development using the communal structures within the states.
Speaking on Channels Sunrise Daily on Thursday, Amaechi underscored the inherent connection between President Bola Tinubu’s recent 8-point agenda and the Federal Executive Council’s commitment to achieving economic transformation through the Sustainable Development Goals (SDGs). He emphasized the requirement for comprehensive strategies to accomplish these objectives.
He highlighted the intricate interdependence among various developmental aspects, such as food security, poverty, insecurity, and unemployment, which necessitate a holistic approach as he noted the importance of harmonious communication and collaboration among different governmental bodies, urging coordination between ministries, state governments, and federal agencies to be of paramount importance.
“States need to be brought on board to discuss their unique circumstances. These states have a better understanding of their needs and can communicate them effectively to the federal government. Another crucial point to emphasize is the need for indigenization and customization. We should strive to align policies and frameworks with the needs of the people since each state has its own distinct characteristics.”
Amaechi accentuated the importance of adapting policy frameworks to suit the individual contexts of each state, while also advocating for collaborative efforts among states within a specific geographical region to formulate a cohesive regional strategy.
He noted that the President’s 8-point agenda, which covers critical areas such as infrastructure, healthcare, education, job creation, and poverty reduction, closely aligns with the fundamental principles of the SDGs.
“The creativity of this approach lies in the fact that they lead back to the sustainable development goals. For that to work well, we need to have a comprehensive understanding of sustainability and embed sustainability thinking into practice and action.”
Taking a broader perspective on the nation’s challenges, he referred to recent statistics from the National Bureau of Statistics (NBS), which revealed that a significant 75 per cent of employment in Nigeria is within the informal sector, predominantly agriculture. To counter this, he emphasized the necessity for states to reconfigure their communal structures into viable economic units.
“The translation of policies into tangible improvements in people’s lives requires localized strategies and concerted efforts.”
Discussing specific initiatives in Imo state, Amaechi commended Governor Hope Uzodinma’s 3R Agenda—a comprehensive roadmap for Reconstruction, Rehabilitation, and Recovery, exemplifying policies aligned with sustainability principles.
“Policies implemented in Imo state today are based on these principles, tailored to stimulate job creation and empower our citizens. The initiative aims to equip youths with skills enabling them to participate in the global job market and seize remote work opportunities beyond Imo state’s borders. This would bolster local economic growth and effectively address unemployment concerns.”
