Strategic Interventions for Economic Transformation: A Blueprint for the Tinubu Presidency (4 Part Quick read) Part 3:

Strategic Interventions for Economic Transformation: A Blueprint for the Tinubu Presidency (4 Part Quick read) Part 3: Empirical Evidence and Data-Driven Analysis

1. Infrastructure as a Growth Engine

McKinsey Global Institute’s "Bridging Infrastructure Gaps: Has the World Made Progress?" (2021) emphasizes the economic benefits of closing infrastructure gaps. Countries with robust infrastructure experience higher economic growth and increased FDI. If Nigeria addresses its infrastructure deficit, particularly in power, transportation, and digital connectivity, it could add 2% to its annual GDP growth, creating millions of jobs and attracting significant investment.

2. Education and Skills Development

Boston Consulting Group’s "Decoding Global Talent" (2019) underscores the importance of education in global competitiveness. Investing in education, particularly in STEM and vocational training, will equip Nigeria’s workforce with the skills needed to drive industrial growth. By following India’s example and focusing on digital skills, Nigeria can position itself as a leader in the global digital economy, like China’s advancements in manufacturing and innovation.

3. SME Support and Digital Economy

Arthur Andersen’s "SMEs in Emerging Markets" (2022) discusses the role of SMEs in economic development. Supporting Nigerian SMEs with access to finance, digital tools, and market opportunities can significantly boost their contribution to GDP, create jobs, and drive innovation. Nigeria can emulate India’s success in leveraging SMEs to diversify its economy and reduce unemployment, thereby fostering a dynamic and resilient economic landscape.