‘We must stimulate economy now to address projected population explosion’

The Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, has stressed the need for timely stimulation of the economy to address the projected population explosion of over 411 million by 2050.
 
According to the minister, the process must be that which engenders growth and creates jobs for the increasing population.

Agba stated this in Abuja, while declaring open the 23rd meeting of the Inter-governmental Committee of Senior Officials and Experts (ICE) for West Africa.

His words: “For instance, it is estimated that Nigeria’s population will hit over 411 million by 2050, with 65 percent of the population under the age of 35.

“The high population growth rate is therefore, a matter of concern, hence the need to stimulate the economy.”

According to him, the gathering was convened to address the implications of the rising population in the sub-region with a view to maximising demographic dividends.

He said further that the meeting was convened to find solutions to the economic and social development challenges facing the region, adding that the gathering will provide an excellent opportunity to discuss and agree on the pathways for economic growth and sustainable development of the sub-region.