Lots of perspectives on the economy.

In 2015, we came to the end of a 15 year long, crude oil fueled, consumption driven growth model.

That was fun while it lasted.

But now we have no choice but to pivot to an investment led growth model which requires 10x the work.

Dr Salami said it best:

“Noting that Nigeria currently has an investment to GDP ratio of between 15 percent to 18 percent, Salami said it is crucial for it to be raised to at least 25 percent or 30 percent within the next decade to boost the economy.”

“If Nigeria’s economy is going to grow, investment is going to be at the heart of that growth.” https://www.thecable.ng/doyin-salami-nigeria-needs-to-create-19m-jobs-annually-to-solve-unemployment">https://www.thecable.ng/doyin-sal...

Punch version

“If we are going to make any meaningful progress, we need an investment to GDP ratio that does not fall at any time perhaps over the next decade below 25 to 30 per cent. So, no matter how we look at it, investment is going to be the fundamental catalyst for growth”

Punch link below.

It is very important to really understand what he is trying to say here. https://punchng.com/nigeria-needs-19-million-new-jobs-yearly-says-salami/">https://punchng.com/nigeria-n...

To help understand the context a bit, see Investment as a % of GDP for China (where investment continues to drive growth) and Nigeria.

Also recall that GDP (Y) = Consumption (C) + Investment (I) + Government Spending (G) + Exports (X) - Imports (M)

Again: Y = C + I + G + (X-M)