Catherine Duggan, director, University of Cape Town Graduate School of Business has said that Nigeria needs to focus on building more manufacturing companies to boost its economy like China.
Duggan disclosed this during the 15th edition of BusinessDay’s CEO Forum themed: ‘Leadership in Tough Economic Times’ on Thursday.
“China is putting all it has into manufacturing and factories to create jobs. It is doing so to get its economy back on track,” Duggan said.
The former professor at Harvard Business School said that following the COVID-19 pandemic, youth unemployment grew 21 percent, and the Chinese economy is improving through renewed investment in industrialisation.
She stated that Nigeria needs to harness its youth population assets as “new markets, new ideas come from young people”.
China, the most populous nation after India, has a gross domestic product of over $17 trillion, the highest after the USA.
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