Nigeria’s Role in Building a New African Economic Renaissance

Africa has a long history of powerful kingdoms, trade networks and centres of learning. Today, its young population, natural resources and expanding markets offer another opportunity for economic transformation. The key challenge is turning growth and raw materials into lasting prosperity. African countries can retain more value by processing cocoa, oil, minerals and agricultural produce locally, while building industries, regional supply chains and renewable-energy capacity. Nigeria has a major role to play as Africa’s most populous country and one of its largest economies. Diversifying beyond oil, improving electricity supply, investing in agriculture and manufacturing, and expanding access to education, skills and digital tools could create jobs and strengthen Nigeria’s role in a new African economic renaissance.

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