This is as he called on the nation’s security chiefs to tackle insecurity so that there will be an increase in the supply chain of the economy.
The Statistician-General spoke at a public lecture/unveiling of Impart Economic Journal, in Abuja.
Adeniran said when the environment is secured people, can access their farms and produce more food, which will force prices down.
He said the country needed security for the production of crude, even though the present security situation has not increased crude production but has reduced oil theft and pipeline vandalism.
Represented by the Head of the National Account Division, Dr Baba Madu, Adeniran noted, “We need national security to grow the economy, like agriculture for instance, if we have a reasonably secured environment in place, people can access their farms and produce more, thereby increasing the supply chain of the economy.
“There would be more food in the market and that would force the prices down.
“We need security for the production of crude, even though the present security situation has not increased crude production oil theft has reduced, and pipeline vandalism has.
“The economic growth in Q3 is 2.54 which is still not sufficient enough, to have a reasonable growth. You need to have a triple increase more than the population growth rate, which is 2.6 – 2.8.”
He further explained that agriculture can produce raw materials that have linkages to all sectors of the economy, and when there is an increase in the value chain, there will be an increase in additional economic activities.
This is even as he pointed out that there will be an increase in farmers’ income, and the provision of employment for the teeming graduating youths.