Inclusive economic growth: the pathway to sustainable development

Abstract

Sustainable development in any country is almost impossible without inclusive economic growth. To accomplish this would however requires effective implementation of cogent economic policies that would integrate the entire citizenry in productive economic activities to enhance sustainable inclusive economic growth. This paper therefore examines conceptual issues in inclusive economic growth and submits that among its major impediments in Nigeria are deficient physical infrastructure, bleak economic situation and financial exclusion, among others. It concludes that the acclaimed economic growth in Nigeria is non-inclusive thus leading to perpetual abject poverty, increased level of youth unemployment and low standard of living in the midst of abundant human and material resources. Among the policy options suggested to enhance inclusive economic growth in Nigeria are: the creation of a conducive investment environment; promotion of vocational, technical and entrepreneurship education; promotion of robust and quality healthcare services and health literacy; financial inclusion; access to infrastructure; human capital development; and diversification of the monolithic Nigerian economy to other sectors, most especially agriculture.

Keywords: Sustainable, inclusive, economic growth, Nigeria