October 27, 2025
Minister-Udoma-Udo-Udoma

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, on Tuesday drew attention to the dangers of uncontrolled population growth on the economy and emphasised the need to generate national support for measures that can help moderate the rapid rate of population growth in the country.

Senator Udoma who chaired the session on “Sustainable development” at the 58th Annual General Meeting of the Nigeria Bar Association holding in Abuja, said that current estimates suggest that more than four million people are being added to the country’s population every year.

Pointing out that the figure is comparable to the population of many large cities or those of small African countries, the Minister stressed that if the country is to fully achieve the objectives of the Economic Recovery and Growth Plan (ERGP), which is to invest in the Nigerian people; expand social inclusion; create jobs and develop human capital, then it has become imperative that new ways to better manage the rate of population growth be fashioned out.

Citing the China example, the Minister said managing population growth is an important part of any strategy to achieve sustainable economic development. He mentioned that his Ministry, working with the Health Ministry, has been given the responsibility by Strategy 46 of the ERGP to develop policies to help manage the country’s rate of population growth.

“Let me say, so that I am not mis-understood, that I am not suggesting that we consider taking measures as drastic as the ones China implemented. But it is important to sensitize Nigerians that we will have to find ways to better manage our rate of population growth if we are to fully achieve the objectives of the ERGP, which is to create the Nigeria of our dreams where extreme poverty is virtually abolished,” he explained.

The Minister emphasised that when the ERGP is fully implemented we should achieve a GDP growth rate of at least 7%. He indicated that at the heart of the Plan is the need to build a globally competitive economy and a nation where we grow what we eat, consume what we make and use what we produce.

Reiterating the key execution priorities, the Minister said the Plan is focused on ensuring macroeconomic stability; expanding agricultural production so as to achieve food security; investing in transportation infrastructure; ensuring energy sufficiency, particularly in power and petroleum products; and driving industrialization, particularly through SMEs.

He said it is most encouraging to note that, though as a 4 year Plan, the ERGP is still in its early period of implementation, some early successes have already been achieved. He mentioned the exit from recession and the growth of the non-oil sector which, according to the National Bureau of Statistics’ (NBS) 2nd Quarter GDP numbers, grew by 2.05%. “This is the strongest growth we have seen in the non-oil sector since we emerged from recession in the second quarter of 2017. Indeed, it is the strongest growth in this sector since 2015,” the Minister pointed out.

Also mentioning other economic indices that are improving, he said “Inflation rate has declined consistently since December 2016, declining from 18.55% in that month to 11.14% last month. External reserves have nearly doubled from $23.81 billion in September 2016 to $46.37 billion by mid-August, 2018. The exchange rate gap has narrowed and there has been improvement in the level of business confidence. Capital inflows have risen from $710 million in the first quarter of 2016 to $5.5 billion by the second quarter of this year.”

He cited the Nigeria stock market which ended 2017 as one of the best performing in the world, even though it has slowed a bit this year, probably due to the usual caution of investors in a pre-election year. “Between 2016 and 2017, exports have grown by 59.5%, from N8, 527 billion in 2016 to N13, 598 billion in 2017; our trade balance has grown from a deficit of N290.1 billion in 2016 to a surplus of N4, 035.5 billion last year,” he added.
>
> The progress notwithstanding, the Minister said much work still remains to be done to achieve the goal of sustained economic development, given the state of the economy inherited at inception of the Buhari administration. But he was confident that when the strategies in the ERGP are fully implemented, the desired sustainable development will be achieved.

He assured that since the ERGP is a live and dynamic plan, government will be carrying out regular reviews to ensure that it is working in accordance with its design specifications. “Indeed, we are currently undertaking a mid-term review of the Plan to assess progress, see where we are, and identify those things that we may need to tweak in the implementation of the ERGP”.

The Minister also told the gathering that the consistent year by year increase in the capital votes for Education and Health; and the yearly budgetary allocation for social interventions across the country shows the priority attention given to human capital development by the present administration.

While applauding the NBA for the conference, which might help with inputs for the mid-term review, the Minister congratulated the NBA National Chairman, Mr Paul Usoro, on his recent election and also the outgoing President, Alhaji Abubakar Mahmoud and his team, for the good work they have done in running the association.

He told the lawyers gathered at the conference that because of the special orientation of the legal profession, the versatile nature of the practitioners and their ability to rationally analyse and disentangle complex issues, they are always in high demand, which explains why President Mohammadu Buhari has eight lawyers in his cabinet.

The lead speaker for the session was Mr Keith Boyfield, an internationally recognised economist and Founder/Director of Keith Boyfield Associates, London, who spoke on the topic “Transition, transformation and sustainable institutions.”

Other speakers were the Chairman of Coronation Capitals and co-founder of Access Bank, Mr Aigboje  Aik-Imuokhuede; and the Chief Executive Officer of the Nigeria Economic Summit Group (NESG), Mr ‘Laoye Jaiyeola.

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1,684 thoughts on “Economy: There’s urgent need to moderate rapid population growth – Udoma”

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  1545. Аргументы подкреплены фактами и исследованиями, что позволяет читателям рассмотреть разные стороны вопроса.

    Reply

  1549. Автор старается представить информацию нейтрально, чтобы читатели могли самостоятельно оценить представленные факты.

    Reply

  1553. Я только что прочитал эту статью, и мне действительно понравилось, как она написана. Автор использовал простой и понятный язык, несмотря на тему, и представил информацию с большой ясностью. Очень вдохновляюще!

    Reply

  1554. Автор статьи предоставляет подробные факты и данные, не выражая собственного мнения.

    Reply

  1555. I am now not certain the place you are getting your information, however great topic. I needs to spend some time finding out much more or figuring out more. Thanks for wonderful information I used to be on the lookout for this info for my mission.

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  1558. Очень интересная исследовательская работа! Статья содержит актуальные факты, аргументированные доказательствами. Это отличный источник информации для всех, кто хочет поглубже изучить данную тему.

    Reply

  1561. A motivating discussion is worth comment. There’s no doubt that that you should publish more on this subject, it might not be a taboo matter but generally folks don’t discuss these issues. To the next! Many thanks!!

    Reply

  1562. Статья представляет интересный взгляд на данную тему и содержит ряд полезной информации. Понравилась аккуратная структура и логическое построение аргументов.

    Reply

  1571. Я нашел эту статью чрезвычайно познавательной и вдохновляющей. Автор обладает уникальной способностью объединять различные идеи и концепции, что делает его работу по-настоящему ценной и полезной.

    Reply

  1573. You really make it seem so easy with your presentation but I find this topic to be actually something which I think I would never understand. It seems too complex and extremely broad for me. I’m looking forward for your next post, I’ll try to get the hang of it!

    Reply

  1574. Автор использует ясные и доступные примеры, чтобы проиллюстрировать свои аргументы.

    Reply

  1584. Автор предлагает читателю разные взгляды на проблему, что способствует формированию собственного мнения.

    Reply

  1595. Я не могу не отметить качество исследования, представленного в этой статье. Она обогатила мои знания и вдохновила меня на дальнейшее изучение темы. Благодарю автора за его ценный вклад!

    Reply

  1597. Hey I am so delighted I found your weblog, I really found you by accident, while I was looking on Aol for something else, Nonetheless I am here now and would just like to say cheers for a marvelous post and a all round thrilling blog (I also love the theme/design), I don’t have time to look over it all at the moment but I have saved it and also added your RSS feeds, so when I have time I will be back to read a lot more, Please do keep up the awesome work.

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  1599. Очень хорошо организованная статья! Автор умело структурировал информацию, что помогло мне легко следовать за ней. Я ценю его усилия в создании такого четкого и информативного материала.

    Reply

  1600. Я ценю информативный подход этой статьи. Она предоставляет достаточно фактов и данных для лучшего понимания проблемы. Хотелось бы увидеть больше ссылок на исследования и источники информации.

    Reply

  1602. Я восхищен глубиной исследования, которое автор провел для этой статьи. Его тщательный подход к фактам и анализу доказывает, что он настоящий эксперт в своей области. Большое спасибо за такую качественную работу!

    Reply

  1605. Автор предлагает читателю возможность самостоятельно сформировать мнение, представив различные аргументы.

    Reply

  1609. Excellent beat ! I would like to apprentice at the same time as you amend your site, how can i subscribe for a weblog site? The account aided me a appropriate deal. I have been tiny bit acquainted of this your broadcast provided shiny transparent idea

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  1613. Я чувствую, что эта статья является настоящим источником вдохновения. Она предлагает новые идеи и вызывает желание узнать больше. Большое спасибо автору за его творческий и информативный подход!

    Reply

  1614. Автор представляет анализ основных фактов и аргументов, приводя примеры для иллюстрации своих точек зрения.

    Reply

  1624. Это позволяет читателям анализировать представленные факты самостоятельно и сформировать свое собственное мнение.

    Reply

  1648. I am really impressed with your writing skills as smartly as with the format for your weblog. Is that this a paid subject matter or did you modify it yourself? Anyway keep up the nice quality writing, it is rare to see a great blog like this one nowadays..

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  1654. An impressive share! I have just forwarded this onto a colleague who was doing a little homework on this. And he actually bought me lunch due to the fact that I stumbled upon it for him… lol. So let me reword this…. Thanks for the meal!! But yeah, thanx for spending some time to discuss this matter here on your internet site.

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  1659. Hmm is anyone else encountering problems with the images on this blog loading? I’m trying to determine if its a problem on my end or if it’s the blog. Any responses would be greatly appreciated.

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  1661. Автор старается предоставить объективную картину, оставляя читателям возможность самостоятельно сформировать свое мнение.

    Reply

  1664. Very good site you have here but I was wondering if you knew of any forums that cover the same topics talked about here? I’d really like to be a part of online community where I can get feed-back from other experienced individuals that share the same interest. If you have any suggestions, please let me know. Bless you!

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  1666. Howdy! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good success. If you know of any please share. Thanks!

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  1670. Автор не высказывает собственных предпочтений, что позволяет читателям самостоятельно сформировать свое мнение.

    Reply

  1672. Я ценю фактический и информативный характер этой статьи. Она предлагает читателю возможность рассмотреть различные аспекты рассматриваемой проблемы без внушения какого-либо определенного мнения.

    Reply

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