By Chinyere Okoroafor
The Nigerian Economic Summit Group (NESG) and the Ministry of Finance, Budget and National Planning are collaborating on developing the Long-Term National Economic Development Plan, the Nigeria Agenda 2050.
NESG Chairman, Mr Asue Ighodalo, stated this in Lagos on Wednesday during the inauguration of the Joint planning committee for the 27th Nigerian Economic Summit (NES#27).
He explained that the NESG would represent the private sector, while the public sector would be represented by the ministry.
While welcoming participants to the event, Ighodalo said that the annual Nigerian Economic Summits have been sustained by the public-private dialogue between the NESG and the Ministry which is the foremost platform through which the federal and state governments engage with corporate leaders and discuss Nigeria’s national and sub-national economic realities to co-create reform strategies that are critical for the advancement and reform of the economy.
Ighodalo stated that with the present state of the economy, increasing unemployment, pervasive insecurity and dwindling investments in critical sectors, the time is ripe to question the path for securing a long-term future for Nigeria that guarantees every citizen’s right to economic, social, political, environmental and physical safety.
He reiterated that governments at all levels must intensify efforts to address challenges of kidnappings, theft and other social vices, especially given that a secure environment is a pre-condition for economic growth, job creation and poverty reduction.
The chairman of the NESG said it has become essential for the country to adopt a different approach with a profound sense of urgency; in finding workable measures and concerted action towards achieving economic growth and national security.
“This 27th Nigerian Economic Summit will present a platform for stakeholders to highlight Nigeria’s core socio-economic vulnerabilities and the associated risks to come up with solutions that alleviate these vulnerabilities while exploring potential opportunities and priorities that will accelerate economic development”, Ighodalo stated.
He said it was imperative that the 27th NES deepens the trust and collaboration between the public and private sector in enhancing the growth of the Nigerian economy.
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Minister of state, Budget and National Planning, Prince Clem Agba in his statement said Nigeria’s inflation rate is showing a downward trajectory despite the challenges faced globally.
He stated that the Summit provides a platform for effective partnership, strengthen relationships and that the conclusions and recommendations of the 26th Nigerian Economic Summit have been forwarded to the cabinet office and will soon be deliberated on by the Federal Executive Council.
Agba revealed that the government is on the verge of completing the Medium and Long-term National Economic Development Plan which will serve as a successor plan to the long-term National Vision 20:2020.
The Honourable minister said that the summit will galvanise stakeholders to commit to a sustainable economy and agree on a compact that compels stakeholders to ensure key recommendations are urgently implemented.
He stated that the Joint planning Committee for the 27th Nigerian Economic Summit are saddled with the responsibility of reviewing the report of the NES26, make preparations for NES27, articulate budgetary requirement, prepare a report of the summit and undertake any work that may lead to the success of the summit.
He thereafter announced Mr. David Adeosun and Mrs. Ijeoma Taylaur as co-chairs and representatives of the Public and private sectors respectively.
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