TGI: Rural Inclusion Crucial to Nigeria’s Socio-economic Growth, Stability
Oluchi Chibuzor
The Vice Chairman of TGI Group, Farouk Gumel has highlighted the role rural inclusion plays in Nigeria’s economic development.
He stated this during a dinner session emphasising the importance of rural inclusion as a key driver for Nigeria’s socio-economic growth and national security, at the 30th Nigerian Economic Summit, themed, “Rural Economy: The Good, the Bad, and the Ugly,” hosted by TGI.
“Rural inclusion is essential for Nigeria’s development. Most of our resources whether it’s oil and gas, agriculture, or solid minerals, are concentrated in rural areas. That is our GDP, that is our economic activity,” said Gumel.
He called for stronger collaboration between urban decision-makers and rural entrepreneurs to foster sustainable business growth. “We must ensure urban consumption, processing, and financing align with rural production to unlock the full potential of these areas.”
“We have both the serving and former heads of our security and intelligence agencies sitting in the same room, talking about how some of the progress they have made in bringing peace and stability in rural Nigeria, highlighting how inclusive community engagements contributed to that peace. And now to sustain that peace, more engagement needs to happen,” Gumel iterated.
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu while addressing the Nigerian’s economy stressed the vast potential locked within Nigeria’s rural areas. Bagudu said, “Inclusive development is crucial to unlocking wealth in agriculture, minerals, and energy sectors. In my experience as governor, I witnessed how transformative programmes, like boosting farmers’ yields from less than one ton per hectare to over four tons, can lift people out of poverty.”
He emphasised that strategic investments in rural development are key to unlocking Nigeria’s full economic potential.
He noted that an agricultural survey revealed that approximately 40.9 million households are engaged in agriculture. This means that if they receive government empowerment, it would lead to a significant boost in national and economic growth.
