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  • NES unveils roadmap for sustainable environment

    NES unveils roadmap for sustainable environment

    The Nigerian Environmental Society (NES) has unveiled a roadmap for a sustainable environmental future, while committing to advanced environmental professionalism, policy development, and sustainable climate action in Nigeria.

    The event marked the society’s 40th anniversary, as this conference makes it

    35th Annual General Meeting held in Abuja,  Nigeria contributes  to global climate action, drawing parallels between Nigeria’s environmental challenges and those faced globally.

    President and Chief Executive Officer Institute of Sustainability and Environmental Professionals, Sarah Mukherjee, who spoke virtually during the conference noted that  waste management, pollution control, and energy efficiency are struggles that demand shared learning and solutions.

    According to her, Nigeria Environmental Society NES is a beacon of what can be achieved when a group of people come together with a vision and complete the hard work involved.

    “She said: You should be rightly proud to celebrate 40 years of the society’s dedication to shaping national policies, from the National Policy on the Environment to the Environmental Impact Assessment Act. It is a landmark achievement.

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    “Many NES members have served on inter-ministerial committees, offered technical advice, and represented Nigeria at international environmental negotiations. “The capacity of the Institute for Technology and professional collaboration has contributed significantly to the country’s environmental governance.

     “There is so much that we can learn from each others, things like flood adaptation work in Copenhagen where overflow areas were transformed into flood-proof cycling lanes. “These are the kinds of innovations that reflect what sustainable urban living can look like.”

    Speaking, the NES President, Dr. Efegbidiki Okobia described the milestone as a defining moment in NES’s journey. “We are celebrating our first to 40th anniversary. For the past 40 years, we have made giant strides with different partners across government and the private sector.

    Okobia recounted how the society began with ten professionals, mainly from the oil and gas sector, and has since grown to 35 chapters across Nigeria and one in the United Kingdom. He also highlighted the passage of the Institute of Environmental Practitioners of Nigeria Act in May 2023 as a major breakthrough. That Act has given a voice to environmental practice as a foundation in Nigeria.

  • NES urges Nigeria, others to transform agriculture, trade, energy

    NES urges Nigeria, others to transform agriculture, trade, energy

    The Nigerian Economic Society (NES) on Tuesday urged Nigeria and other African countries to transform agriculture, trade, energy in other to attain sustainable economic growth.

    It, however, insisted that the countries are not in deficit of talent, ideas, or entrepreneurial grit but they are lacking in translating them to tangible improvements in the lives of their citizenry.

    NES President, Adeola Adenikinju, made this known in a press briefing in Abuja on Tuesday.

    According to him, Africa’s external socio-economic environment remains uncertain amidst lingering global trade tensions and geopolitical shocks.

    He stressed that projections of various institutions, suggesting economic growth for Nigeria and the continent still falls short of what is needed to truly improve living standards of citizens, adding that one in every three persons continues to live below the poverty line.

    “Yet the data show that our region is positioned to witness significant economic growth in the coming years. The data also show that our economic and social prosperity requires more than macro stability. 

    “It requires sectoral transformation in our core growth sectors like agriculture, trade, and energy, and it requires social protection systems that are well designed. If we hold those two truths together, we can design pathways for social and economic prosperity that are both ambitious and realistic.

    “Nigeria and Africa are not short of talent, we are not short of ideas, we are not short of entrepreneurial grit. The real challenge is not the absence of good policy ideas, but the difficulty of translating them into tangible improvements in people’s daily lives,” he said. 

    Speaking further, Adenikinju said that the 66th annual conference of the Society, scheduled to hold from September 8 to 11 2025 will identify practical pathways to economic transformation and social inclusion, mindful of the shifting global landscape that shapes the economy.

    He explained that the theme of the conference, Rethinking Africa’s development’ means shifting from a paradigm predicated on volatile commodity cycles and aid dependence toward one anchored in investment, diversification, and institutions that deliver. 

    “It means embracing regional integration not simply as a diplomatic project but as a concrete way to reduce costs for businesses and expand consumer choice. It means, among others, the courage to reform when it is difficult, coupled with the humility to protect the most vulnerable while reforms take time to yield fruit.

    “We will offer clear insights and actionable recommendations for policymakers, researchers, and practitioners through the recommendations that will be adopted at the end of the conference. 

    “These recommendations will speak directly to the pressing questions of our time: how to secure macroeconomic stability, how to unlock diversification and competitiveness, how to build resilience in the face of shocks, and how to ensure that economic growth translates into shared, inclusive prosperity.”

  • NES 31 to push for reform-centred, inclusive growth by 2030

    NES 31 to push for reform-centred, inclusive growth by 2030

    The 31st Nigerian Economic Summit (NES #31), themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030”, will explore how Nigeria can entrench reform-minded governance, reduce policy reversals, and ensure that reforms are citizen-centred, inclusive, and results-driven.

    These conversations will aim to mobilize multisectoral action, influence public policy, and strengthen Nigeria’s capacity to deliver on its development commitments.

    Organisers of the event, the Nigerian Economic Summit Group (NESG), have assured that this year’s summit “will be more than a policy dialogue—it is a strategic checkpoint for Nigeria.”

    In a statement issued on Monday by Ms. Ayanyinka Ayanlowo, Acting Head of Strategic Communication and Advocacy at the NESG, the summit comes at a time the country seeks to consolidate the gains of past reforms, maintain macroeconomic stability, and lay the foundation for long-term inclusive prosperity.

    According to the statement, the theme reflects the urgent need for bold, systemic reforms that can lead to tangible and measurable development outcomes across all sectors of Nigerian society.

    Guided by three key strategic pillars—Reforms, Resilience, and Results—NES #31 is expected to serve as a rallying point for national consensus on the policy and institutional shifts needed to secure Nigeria’s economic future.

    The summit will be structured around five interlinked sub-themes, each addressing a vital lever of economic transformation. The first sub-theme, Driving Industrialisation-led Growth, will focus on how to expand Nigeria’s industrial base through local value chain development, stronger integration of small and medium enterprises (SMEs), and the application of technological innovation to boost productivity and competitiveness.

    The second sub-theme, Building Infrastructure for Competitiveness, will examine ways to accelerate infrastructure investment across key sectors. Discussions will cover strategies to improve transportation, energy, and digital infrastructure in order to reduce business operating costs, increase productivity, and support Nigeria’s participation in regional and international trade frameworks such as the African Continental Free Trade Area (AfCFTA).

    The third sub-theme, Advancing Inclusion for Shared Growth, will look into strategies for ensuring broader economic participation by historically underserved groups. This includes promoting access to finance, education, healthcare, and job opportunities for women, youth, and marginalised communities. It will also highlight the importance of targeted social and economic interventions that close inequality gaps and drive inclusive development.

    The fourth sub-theme, Strengthening Institutions for Sustainable Impact, will address the need for public sector transformation. Participants will explore approaches to improve government accountability, regulatory quality, and service delivery mechanisms—viewed as essential components for building long-term trust and effectiveness in Nigeria’s governance structures.

    The fifth sub-theme, Unlocking Investment Amid Global Trade Shifts, will focus on how Nigeria can reposition itself as a top-tier investment destination in light of shifting global dynamics. The discussions will cover export diversification, investment promotion, and initiatives aimed at enhancing investor confidence through macroeconomic reforms and regulatory improvements.

    As Africa’s most populous country and one of its largest economies, Nigeria’s domestic policy decisions influence broader regional outcomes. NES #31 will therefore consider how Nigeria can lead Africa’s economic transformation through enterprise development, trade, technology, and diplomatic leadership. With regional integration efforts gaining momentum and global trade patterns evolving, the summit will address how Nigeria can deepen its position within regional and global value chains.

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    Other key areas of focus will include improving the ease of doing business, unlocking private capital to finance national development priorities, and expanding digital infrastructure and human capital to support Nigeria’s participation in the global digital economy.

    Scheduled to take place from October 6 to 8, 2025, in Abuja, NES #31 will bring together key national and international stakeholders, including business leaders, senior government officials, policymakers, civil society actors, academics, development partners, and youth leaders. The summit aims to provide a space for reimagining Nigeria’s economic future in light of current global challenges and domestic reform priorities.

    Now in its 31st edition, the Nigerian Economic Summit has, since 1993, served as a central platform for shaping the country’s economic policy agenda. It continues to promote structured dialogue between the public and private sectors, with a strong focus on driving sustainable and inclusive economic development for the benefit of all Nigerians.

  • Utilise positive economic outlook in Q3, NES urges Oyo residents

    Utilise positive economic outlook in Q3, NES urges Oyo residents

    The Oyo chapter of the Nigerian Economic Society (NES) has urged residents to take advantage of the positive economic outlook expected in the third quarter of 2025 in various sectors of the economy by engaging more in productive activities. 

    Experts have projected that Gross Domestic Product (GDP) growth would be around 3.4 per cent, which would be supported by the new domestic refinery and increased oil production. 

    According to Agusto & Co, inflation is expected to moderate in the third quarter, and would result in  a relatively stable naira. 

    It is also projected that there would be a  robust service sector and  potential for growth in the digital economy in the third quarter. 

    Reacting to the projections, Oyo NES urged residents of the state to key into the expected growth in the sectors. 

    A statement by the Chairman of Oyo NES, Dr. Alarudeen Aminu said Oyo State residents ought to engage productively in service, digital, and agricultural sectors in order to optimise the benefits therein. 

    Aminu said: “The service sector, comprising finance, real estate, business services, general government services, wholesale and retail trade, and others, remains the most active sector.

    “Again, it has been projected that the digital economy would experience a boom in this quarter. We call on our youth and other economic agents to key into this sector.  

    “Importantly, with huge investment in agriculture by the state government and rapid growth in the sector, we urge the youth and other residents to look into  this direction.”

  • Basiru rejects NES award in Osun, accuses Adeleke of undue interference

    Basiru rejects NES award in Osun, accuses Adeleke of undue interference

    National Secretary of the ruling All Progressives Congress (APC) Senator Ajibola Basiru, has rejected the award of Excellence in Leadership to be conferred on him by the Nigerian Economic Society (NES) Osun Chapter.

    He accused Osun State Government of manipulating the society following the abrupt postponement of the award over what he described as undue political interference and manipulation by the Osun State Government. 

    NES had in a letter dated April 7, 2025 by its Chairman, Prof. Adeleke G.  Aremo and Secretary, Adewale Sam-Aliyu intimated Basiru of the postponement of the award slated for Thursday 11th April, 2025, hinging their decision on unexpected turn of events, logistic and security complexities. No new date was fixed.

    Faulting the postponement and rejecting the award, Basiru in a letter by his Special Adviser,  Legal and Political Strategy, Barrister Othuke Amata Aso said the society has compromised the integrity of the award.

    Basiru criticizeid the NES for what he described as an unprofessional communication regarding the “postponement” of the ceremony, calling the letter “convoluted” and “hastily prepared.”

    Expressing dismay at the abrupt cancellation of the award, which was labelled a “postponement,” Basiru said the April 7 letter was lacking coherence and clarity.”

    The APC National Secretary alleged external interference as the primary cause for the cancellation of the award ceremony.

    According to him:  “Reliable sources within the ranks of the NES, Osun Chapter revealed that the pressure to cancel the award ceremony came from the Osun State Government, specifically Governor Ademola Adeleke.

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    “The real reason for this shameful retreat is the undue pressure and shenanigans exerted by the Governor of Osun State, Mr. Ademola Adeleke, on the leadership of your society.” 

    The APC Scribe accused the Osun State administration of lacking excellence and being politically motivated, specifically calling out what he  described as “mediocrity” and “cheap politicking” on the part of the state’s leadership.

    Basiru, who said he initially hesitated to accept the award due to skepticism towards honorary awards, accepted it after encouragement from well meaning colleagues, and friends.

    He rejected the recognition, stating that the actions of the NES Osun Chapter represent “a stain on its reputation” and a “disservice to the very ideals it purports to champion.”

    Basiru advised NES Osun State Chapter to find a way to redeem itself and rise above political influence, reinforcing that merit should not be “subverted by the whims of those in power.”

  • Vandals hurting the economy – NNPC

    Vandals hurting the economy – NNPC

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has appealed to oil pipeline vandals to desist from such nefarious activity, saying the conduct is not only harmful to the environment but equally hazardous to the economy.

    Speaking while receiving a delegation of the Nigerian Environmental Society (NES) who was at the NNPC Towers Abuja for a business meeting, Baru said petroleum pipeline pulverization presented a loss-loss scenario for the vandal, the environment and the economy.

    He restated the NNPC commitment to best industry standards in Health Safety and the Environment, (HSE), noting that the Corporation does not embark on any project without a duly certified Environment Impact Assessment (EIA) report.

    A statement issued on Friday by the Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu quoted the GMD as saying:“All our projects also go through commissioning and decommissioning and we do it in accordance with prevailing world standards and our environmental practices are in line with the latest International Standard Organization (ISO) specification. ’’

    Baru noted that HSE was given a major consideration before the Corporation executed the multi-billionaire naira upstream investment agreements with some of its Joint Venture (JV) partners.

    ‘’Be rest assured that if there is just one company that would be environmentally compliant in the industry, it is definitely going to be NNPC,’’ he added.

    The National Vice President of the NES, Mrs. Dorothy Bassey, commended the NNPC for success in the sector, especially the signing of alternative funding agreements with the JV partners and the re-invigoration of the NNPC anti-corruption unit.

     

     

  • How Nigeria can survive economic downturn, by NLC, NES, others

    •ECA, SWF not in tandem with 1999 Constitution, says groups

    The  establishment of a Stabilisation Fund can help the country get out of its economic downturn, a report has said.

    The report, which was put together by a group, which includes the Nigeria Labour Congress (NLC) and the Nigeria Economic Society (NES), added that Nigeria is occupying  the 55th position of 69 nations rated for savings and investment.

    The depletion of the Excess Crude Account (ECA) when oil prices were high was also said to have contributed to the financial meltdown which the nation is facing.

    These facts are contained in a report by 43 groups under the auspices of the Citizens Wealth Platform(CWP).

    The groups include Nigeria  Labour  Congress (NLC); Nigeria Economic Society(NES); Nigeria Bar Association(Abuja); Institute of Chartered Accountants of Nigeria (ICAN), Abuja;  Trade Union Congress (TUC), Abuja; and International Centre for Development Budget, among others.

    The report said the nation’s Excess Crude Account (ECA) and the Sovereign Wealth Fund (SWF) may not stand the test of constitutionality  because they are at variance with constitutional provisions setting up the Distributable Pool Account in Section 162 of the 1999 Constitution.

    Quoting statistics from the SWFI, the report described Nigeria as a late starter to savings.

    “It is clear that the issue of savings and investment is a common practice around the world and Nigeria is a reluctant late starter.

    “Virtually, all major oil producers have SWFs with substantial sums tied to the production and marketing of oil.

    “There are also SWFs that are funded  from non-commodity sources, including pension funds. Other countries started their savings, investment and futures funds a long time ago.

    “It would, therefore, not be in accordance with fit and good practices and international norms to scrap the SWF or any other stabilisation fund. This will be a sign of fiscal indiscipline.”

    The report gave insight into how Nigeria ran into financial crisis and why its SWF had been a paltry $1.4 billion.

    The document added: “The trajectory of crude oil revenue and distribution since 2008 shows that we have been spending the funds in ECA at a time of high oil prices. Essentially, we refused to save and have virtually exhausted the funds in ECA. It also shows that the accounting for crude oil revenue and the funds in ECA appear not overtly transparent.

    “So many countries in the world have SWFs which have components on stabilisation, infrastructure investments and a futures fund. Nigeria started its SWF late with a total worth of about $1.4 billion.”

    It recommended a stabilisation fund for use during economic downturn.

    The report said: “Savings remain one of the hallmarks and signs of fiscal responsibility. It is an aphorism that the propensity to save is inversely related to the propensity to consume while the propensity to invest is directly related to the propensity to save.

    “Going by the foregoing, it is clear that if Nigeria desires to make steady progress, there is need to sustain a stabilisation fund for use during economic downturn.”

    The report said the nation’s ECA and SWF are at variance with Section 162 of the 1999 Constitution.

    The report said: “From the review of the legal framework, it appears stricto sensu that the stabilisation provisions setting up the ECA and the SWF may not stand the test of constitutionality as they seem at variance with constitutional provisions setting up the Distributable Pool Account in Section 162 of the 1999 Constitution.

    “There may be need for constitutional amendment to align ECA, the NSIA or any other stabilisation mechanism with the constitution.”

  • Society seeks better environmental techniques

    Society seeks better environmental techniques

    THE National President of the Nigerian Environmental Society (NES), Mr. Olu Andah Wai-Ogosu, an engineer, has pledged the commitment of the body to protect, develop and sustain the environment.

    He underscored the need for proper implementation of better environmental technology and monitoring techniques.

    The NES national president spoke while presenting a paper at the country’s first environmental trade fair at the National Arts Theatre, Iganmu, Lagos. It was organised by NES, Lagos Island chapter.

    Wai-Ogosu said the purpose of the fair was to address issues on environmental technology and the way it could be used to assist with monitoring technologies.

    “This is an innovation, which we believe we should start with, before bringing other practitioners, regulators, academics, students and the young ones,” Wai-Ogosu added.

    He said environmental degradation was also in the form of solid, liquid or gas and could be monitored by the technological machines.

    The Chairman/Managing Director of Technology Partner International and Environmental Group, Dr. Chris Ifeadi, hailed Lagos State for proper and effective management of environmental waste.

    He, however, urged the government to intensify efforts by mobilising Lagosians to know how waste could be collected and managed, to prevent risks to human health.

    A representative of the Atlantic Waste Management Ltd, Dr. Jerry Nwankwo, said the fair was an innovation that should be sustained.

    Highlights of the event were trade fair exhibition, display and panel discussion.

     

  • Politicians’ jumbo pay bad for economy, says NES

    The Nigeria Economic Society (NES) has said politicians’ jumbo pay impacts negatively on the economy.

    Its President , Prof Akin Iwayemi, said the jumbo salary was indicative of the huge gap between the poor and the rich as well as between the ruler and the ruled.

    He spoke with reporters yesterday at the NES secretariat in Bodija, Ibadan, the Oyo State capital.

    Iwayemi noted that it was unfortunate that the country was running the costliest democracy in the world, adding: “Until Nigerians begin to ask themselves how much value they get from every naira spent by their political office holders, they cannot attain sustainable development.”

    He said 70 per cent of the country’s budget is allocated to re-current expenditure.

    He added:” It is regrettable that we are using a huge chunk of the nation’s resources to service just less than 1,000 people in a country of over 160 million people.

    “They should publish all the salary scale all these political office holders earn monthly. I do not understand why it should be a secret. It should be public information. So, this is a challenge to the Fiscal Mobilisation Committee to do justice to this issue and let the citizens know.

    “We are running the costliest democracy in the world. We cannot develop this way when we spend huge money to service a few people. How will you get money for productive activities to expand the economy? An average Nigerian cannot access good medical care, good roads and other basic things of life when the legislators are smiling to the bank.”