Tag: NESG

  • Business confidence improving on stronger economic fundamentals, says NESG

    Business confidence improving on stronger economic fundamentals, says NESG

    Nigeria’s private sector has extended its positive growth trajectory for a sixth consecutive month, with business confidence surging to fresh highs on the back of easing macroeconomic pressures, improved investor climate, and rising sectoral resilience.

    The latest Business Confidence Monitor (BCM) for June 2025, published by the Nigerian Economic Summit Group (NESG) in collaboration with Stanbic IBTC, revealed a remarkable uptick in business sentiment, as the Current Business Performance Index climbed to 113.6 points, up from 109.8 points recorded in May 2025.

    According to the NESG, the sustained expansion reflects “broad-based improvements across all sectors of the economy, underpinned by easing inflationary trends, better supply chain dynamics, and a strengthening of business resilience, despite lingering structural challenges.

    “The Nigerian business environment continues to show remarkable resilience,” said Dr. Olusegun Omisakin, Chief Economist and Director of Research at NESG. “The fact that we have seen six straight months of positive performance signals that businesses are adjusting better to prevailing economic realities, and are cautiously optimistic about future prospects.”

    The report highlighted significant improvements in the Manufacturing, Non-Manufacturing, Trade, Agriculture, and Services sectors, all of which posted index readings firmly in expansion territory.

    Notably, the Manufacturing Sector emerged as the top performer, with its index rising to 123.6 points, driven by robust output in Textiles, Cement, and Plastic and Rubber Products.

    Omisakin noted, “The manufacturing sector’s momentum is particularly commendable. Despite persistent cost pressures, manufacturers are recalibrating their operations to take advantage of emerging market opportunities and policy-led interventions.”

    Similarly, the Trade Sector recorded a significant rebound, with the index rising to 121.0 points, buoyed by strong retail performance which recovered from a contraction in May.

    The NESG attributed this improvement to “heightened consumer demand for essential goods, relative price stability in fast-moving consumer goods (FMCGs), and more efficient logistics management across urban centres.”

    In the Agriculture Sector, business confidence rebounded to 108.9 points, reversing a temporary dip observed in May.

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    The NESG explained that “the sector’s recovery was supported by seasonal activities, particularly the New Yam Festival, and the operationalisation of agro-processing initiatives, which bolstered output in Crop Production, Livestock, and Agro-Allied sub-sectors.”

    The Future Business Expectation Index, a forward-looking measure of optimism for the next one to three months, also improved to 134.5 points. The NESG described this as “an indication that businesses are positioning themselves for stronger performance in the near term, buoyed by ongoing policy reforms, anticipated improvements in power supply, and stabilising exchange rates.”

    “While structural issues like access to finance, power supply, and regulatory clarity remain on the radar, businesses are increasingly adapting to these realities,” the NESG said. “The optimistic outlook across sectors, especially in Manufacturing, Trade, and Agriculture, shows that private sector players are not just surviving but looking to expand.”

    Dr. Omisakin concluded, “The trajectory we are witnessing underscores the resilience and tenacity of Nigerian businesses. As macroeconomic fundamentals continue to stabilise, there is a growing window of opportunity to deepen sectoral growth and foster inclusive economic development.”

    The NESG called on policymakers to sustain the momentum by ensuring that reforms are targeted towards easing credit access, enhancing infrastructure delivery, and providing clearer economic directives to bolster private sector confidence further.

  • NESG backs $1tr economy target

    NESG backs $1tr economy target

    The Nigerian Economic Summit Group (NESG) has reaffirmed its commitment to supporting President Bola Tinubu’s ambition of building a $1 trillion economy, saying its role in facilitating policy dialogue and strategic advocacy will remain central to achieving the national economic target.

    Speaking during a courtesy visit to The Nation headquarters in Lagos, yesterday, Chairperson of the Media and Communications Subcommittee for the 31st Nigerian Economic Summit (NES#31), Mojisola Saka, said the NESG has consistently served as a catalyst for impactful economic policies through its annual summits and engagements with the public and private sectors.

    She said: “I may not have the economic figures, but I can tell you that $1 trillion is even the least that can be achieved.

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    The NESG’s work is helping to unlock that vision by facilitating collaboration between the private sector, government, and development partners. We are not a policy-making body, but our advocacy and dialogue have led to major national reforms.”

    While acknowledging some founding fathers such as Chief Ernest Shonekan, Chief Pascal Dozie, Ahmed Joda, she cited past achievements of the group, including its role in influencing the GSM revolution, pension reforms, and banking sector transformation — all of which originated from summit-led dialogues and consultations.

    The visit was part of NESG’s ongoing engagement with media stakeholders ahead of the 31st Nigerian Economic Summit scheduled to hold from October 6 to 8, 2024, at the Transcorp Hilton, Abuja. Saka led a delegation including the group’s Head of Strategic Communications and Advocacy, Ayanyinka Ayalowo, and committee members Oluwatobi Abodunrin and Deji Atunwa.

    According to Saka, the summit will focus on five key themes: economy, gender, food security, infrastructure, and investment.

    She disclosed that this year’s edition will dedicate a full day to sub-national engagement, aimed at connecting state governments with global investors.

    “On Day 3 of the summit, we are bringing state governors and the investment community into the same room to hold direct discussions on financing development at the subnational level. Subnationals are closer to the people and should not depend solely on the federal government for growth,” she said.

    She emphasised the need for sustained media partnership to amplify summit outcomes and track their implementation, stating: “We are not here just to place adverts, we are seeking a long-term technical partnership with The Nation to drive awareness, shape narratives, and push accountability around national economic conversations.”

    Welcoming the delegation, Editor of The Nation, Adeniyi Adesina, acknowledged NESG’s role in economic development and requested clarity on how the Group intends to support President Tinubu’s economic plan.

    “I would have asked the NESG CEO if he were here, what exactly the group’s contribution to achieving the $1 trillion economy. That’s a very important question, and we’ll still want an answer,” he said.

    Responding, Saka explained that NESG’s contribution lies in its ability to create platforms for collaboration, influence policy direction through research, and maintain ongoing conversations that support reform. “The work we do behind the scenes is significant. Our summit provides the room, the research, and the network for key economic decisions to take shape.”

    Group Business Editor, Simeon Ebulu, said The Nation is open to a robust partnership with the NESG. “Our name was deliberately chosen – The Nation, to reflect our commitment to national development. We’re glad to collaborate with you, especially if it helps in moving the country forward.”

    Also speaking, Ayalowo expressed appreciation for The Nation’s consistent support over the years. “Every time we call, The Nation responds, whether in Lagos or Abuja. That reliability is what we value and hope to deepen.”

    Saka noted that the NESG’s work is guided by data and evidence-based research, often in collaboration with the National Bureau of Statistics and international institutions. “We don’t just speculate. Our numbers are fact-checked, and our recommendations are grounded in data.”

    Addressing concerns about policy implementation, she said, “That the conversation continues across successive governments is proof that NESG’s work has value. We may not enforce policy, but we create the platforms where meaningful policy ideas are born.”

    We are a conversation, collaboration-driving platform. So we do not have responsibility, I don’t think anybody in this room can say today to the President of the Federal Republic of Nigeria, ‘this is what you should do’. We could advise in our individual capacity or collective capacity, but it’s just advice. It’s not mandatory to be taken. That is what the NESG does.

    She added that the Group operates with strict ethical standards and is driven by a sense of national duty. “We are self-funding volunteers. Everyone at NESG contributes out of commitment to Nigeria, not for personal gain.”

    The NESG presented a compendium of summation from their previous engagements to The Nation editorial team at the end of the visit, symbolising its appreciation and commitment to continued partnership.

    “The media is critical to everything we’re doing. This is not just about a summit. It’s about shaping Nigeria’s future together,” Saka said.

  • Leverage $4tr assets for FDI attraction’, NESG tells FG

    Leverage $4tr assets for FDI attraction’, NESG tells FG

    The Nigeria Economic Summit Group (NESG) has urged the Federal Government to unlock the nation’s estimated $4 trillion in bankable assets to attract foreign direct investment (FDI) and drive economic growth.

    Chief Executive Officer of NESG, Dr Tayo Aduloju, made this appeal in Abuja during the launch of the Group’s 2025 Macroeconomic Outlook Report. 

    He stated that Nigeria holds significant investment potential, but legal, regulatory, and policy constraints continue to obstruct economic opportunities.

    “Now, in terms of FDI, Nigeria sits on $4 trillion worth of assets that are bankable. However, many of them are gridlocked by legal, regulatory, and policy bottlenecks,” Aduloju noted. 

    “If the government wants to unlock investment, it needs to clear and de-risk national assets so they are attractive to investors.”

    Aduloju stressed the importance of economic expansion, saying, “Nigeria’s strategic sovereignty and autonomy depend on returning to 5.5 percent or 6 percent GDP growth rates. All hands need to be on deck because economic health will not come from external sources. The global economy is going through fragmentation and recalibration.”

    He added that productivity, efficiency and job creation must be prioritised. 

    “We think the arc of the possible this year includes achieving a 5.5 percent growth rate. Next year, we believe 6 percent is achievable.”

    The NESG CEO also pointed out that every state in Nigeria has the potential to export at least one product worth a billion dollars annually. “The question is how to accelerate economic value addition and industrialization to make this happen across the country.”

    He noted an expansion in non-oil exports but lamented that manufacturing’s contribution to exports remains low, reflecting insufficient value addition. “That needs to change, and it can change.”

    To bridge the investment gap, Aduloju suggested onboarding the $5 billion investment pipeline identified by the Minister of Trade and leveraging the additional $20 billion discussed by the Minister of Foreign Affairs.

     “These are real opportunities. The government has announced them, and they need to be acted upon. If the economic team sits together and strategizes on how to bring in this money within 24 months, it would make a difference.”

    He further explained that increased investment inflows would strengthen the Central Bank of Nigeria’s (CBN) position.

     “If your top revenue source is oil and production struggles, the economy will feel the impact. This is why we are concerned about political instability in Rivers State,” he said. 

    Aduloju insisted on the need for Nigeria to sustain a crude oil production level of 2.2 million barrels per day (mbpd).

  • NESG seeks policies to halt MSMEs collapse

    NESG seeks policies to halt MSMEs collapse

    The Nigerian Economic Summit Group (NESG) has urged the Federal Government to halt further demise of Micro, Small, and Medium Enterprises (MSMEs) in the country.

    The group lamented that approximately 30 per cent of the country’s MSMEs closed shops between 2023 and 2024 due to harsh economic conditions.

    This translates to an estimated 7.2 million businesses out of Nigeria’s 24 million registered MSMEs.

    Speaking at the launch of the 2025 Private Sector Outlook, NESG’s Chief Economist and Director of Research, Dr. Segun Omisakin, said the country suffered an estimated economic loss of N94 trillion during this period due to business closures and multinational divestments.

    “Between 2023 and 2024, multinational divestments and business closures led to an estimated N94 trillion economic loss. Additionally, 30 percent of Nigeria’s 24 million registered MSMEs shut down, highlighting the country’s economic vulnerability,” Omisakin stated.

    Despite policy reforms improving forex availability, the naira experienced significant depreciation, with the official exchange rate averaging N1,479.9 per US dollar in 2024. While the economy expanded by 3.4 per cent its highest growth since 2021, structural weaknesses, stagnant productivity, and macro-economic imbalances continued to affect living standards.

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    NESG Board Director, Mrs. Wonu Adetayo, emphasized the crucial role of the private sector in ensuring economic resilience and investment growth despite ongoing volatility. Panelists at the event stressed that investors prioritize policy stability over exchange rate fluctuations.

    Business organizations, including the Nigerian Association of Small and Medium Enterprises (NASME), the Nigerian Association of Small-Scale Industrialists (NASSI), and the Nigeria Employers’ Consultative Association (NECA), were urged to actively shape economic policies.

    President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Oye called on the government to act as a facilitator rather than a competitor in economic affairs.

    He underscored the importance of including business associations in key negotiations to promote broad-based economic benefits.

    In response to the challenges facing small and medium-sized enterprises, the African Development Bank (AfDB) has arranged a $230 million trade finance package through Access Bank Plc to enhance forex accessibility, stabilize trade, and provide financial support for Nigerian SMEs.

    The package includes a $170 million Trade Finance Line of Credit (TFLoC) to ensure forex liquidity for businesses, supporting the continuity of essential imports. Additionally, a $60 million Transaction Guarantee (TG) will protect confirming banks against payment risks on trade finance transactions.

    Before disbursement, the Central Bank of Nigeria (CBN) must approve the project to ensure compliance with local forex regulations. The initiative is expected to boost SME growth, support women entrepreneurs, and improve access to essential imports.

  • NESG cautions against government overreach

    NESG cautions against government overreach

    The Nigerian Economic Summit Group (NESG) has warned against excessive government intervention in private sector affairs, saying businesses must be recognized as key stakeholders in trade and investment negotiations.

    At the launch of the NESG 2025 Private Sector Outlook in Lagos, speakers said policy stability and regulatory clarity are critical for economic growth.

    Dele Kelvin Oye, Esq., President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and Chairman of the Organised Private Sector of Nigeria (OPSN), said business organizations should be fully involved in key negotiations to ensure economic benefits are widely shared.

    Read Also: NESG academy launches mental health awareness initiative 

     Speakers said unpredictable policies discourage investment and weaken market confidence. They cited tariff policies in the United States, noting that sudden changes have immediate effects on financial markets.

     Foreign direct investors were said to be more concerned about policy stability than the exchange rate itself. A discussion with investors in Qatar showed that concerns about unpredictable market conditions made them hesitant to commit to investments in Nigeria.

     The panelists said stronger engagement is needed between the government and business groups such as the Nigerian Association of Small and Medium Enterprises (NASME), Nigerian Association of Small-Scale Industrialists (NASSI), and Nigeria Employers’ Consultative Association (NECA).

    They said law enforcement inefficiencies and regulatory barriers make businesses less competitive and called for legal and regulatory reforms to improve the investment climate.

  • NESG academy launches mental health awareness initiative 

    NESG academy launches mental health awareness initiative 

    The Nigerian Economic Summit Group (NESG) Academy has emphasised the need for greater attention to mental health among young and vulnerable populations, driven by sustained awareness efforts.  

    The Academy noted that this call is crucial due to widespread misconceptions, discrimination, and social exclusion, which often prevent individuals from seeking necessary care.  

    In response, the Academy has launched the One Community at a Time Mental Well-being Initiative to tackle these challenges and promote mental health awareness among affected groups.

    The NESG Academy serves as the capacity-building and social impact arm of the NESG with commitments to civic engagement and education.

    The initiative, the Academy said in a statement, seeks to break the stigma, build resilience, and promote mental well-being, particularly among young people and vulnerable populations.

    Noting that with 40–60 million Nigerians experiencing mental health challenges, according to the World Health Organization (WHO), the Academy stressed that the need for advocacy, education, and community-driven solutions has never been more urgent. 

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    It said the launched initiative is a transformative program designed to raise awareness, educate, and provide support for mental health in schools and underserved communities across Nigeria. 

    While lamenting that in many Nigerian communities, mental health issues are widely misunderstood, often attributed to spiritual causes rather than medical conditions, NESG Academy pointed out that the misconception fuels stigma, discrimination, and social exclusion, preventing individuals from seeking necessary care. 

    Beyond stigma, it said Nigeria’s mental health sector faces significant structural challenges, including brain drain, inadequate infrastructure, low public awareness and limited research and funding.

    Gbemi Ibrahim, Head of Workforce Management and NESG Academy, who explained that the initiative is both timely and essential for national development, said, “At NESG Academy, we believe mental wellness is fundamental to societal progress. 

    “Through ‘One Community at a Time,’ we are leveraging civic education to promote mental health awareness, resilience-building, and community engagement. 

    “By fostering open conversations and equipping individuals with the right knowledge, we aim to create a more inclusive and mentally resilient society.

    “With approval from the Lagos State Government Education District III, the Civic Education for Mental Health Awareness program will be implemented in Epe, Eti-Osa, Ibeju-Lekki, and Lagos Island LGAs, with expansion plans to other communities throughout the year. 

    “Our mission is to build a society where individuals understand their role in promoting mental well-being—not just for themselves, but for their communities as a whole. 

    “Through civic education and collective action, we can drive meaningful change and strengthen mental health advocacy, one community at a time”.

    According to the Academy, the initiative’s pilot phase will engage students and community members through mental health awareness workshops to challenge stigma and misconceptions, resilience-building programs to equip individuals with coping strategies and civic education sessions to empower young people as mental health advocates.

  • How Nigeria can use town planning to attain sustainable development, by NESG chair

    How Nigeria can use town planning to attain sustainable development, by NESG chair

    Nigeria can use its town planning practice and guidelines as catalysts for the achievement of sustainable development and prosperity.

    Chairman, Nigeria Economic Summit Group (NESG), Mr. Niyi Yusuf, said with the complexities of rapid urbanisation, infrastructural deficits and sustainability, there is a need for town planning practices that not only address existing challenges but also look beyond to emerging future trends.

    Yusuf was the Guest Speaker at the 11th edition of the Waheed Kadiri Lecture Series organised by the Nigerian Institute of Town Planners (NITP), Ogun State Chapter. He spoke on: Global Trends – Reimagining Cities for Sustainable Development and Shared Prosperity.

    He noted that cities, the vibrant epicentres of human activities and the beating hearts of civilisation, were undergoing unprecedented transformations fuelled by powerful global trends.

    According to him, the forces behind the transformations—ranging from rapid technological advancements to climate change and shifting societal dynamics—offer immense opportunities for growth and innovation, yet, they also amplify the challenges that demand continuous evolution of town planning.

    “You are already well-acquainted with the complexities of managing rapid urbanisation, addressing infrastructural deficits -road, housing, transportation, water, telecoms, electricity and security, as well as promoting sustainability. However, the global trends we will explore today go beyond these immediate concerns. They will redefine the very essence of urban living, challenging us to reimagine our roles, embrace innovative tools, and adopt forward-thinking approaches.

    “As we navigate these transformative times, remember that your work is pivotal not only to the cities of today but to the generations that will inhabit them tomorrow. You must have a strong sense of accountability to preserve our heritage while embracing the infinite possibilities of the future, by creating resilient, inclusive, and visionary urban landscapes,” Yusuf said.

    He outlined that town planning could be used to accelerate the attainment of the Sustainable Development Goals (SDGs), a set of 17 goals adopted in 2015 by the United Nations to transform the world.

    He noted that from the first goal of poverty elimination by 2030, town planning can help by strategically designing cities to provide better access to essential services like healthcare, education, public transportation, water and sanitation, renewable energy, affordable housing, and green spaces, which can significantly improve the quality of life for marginalised communities and create a more equitable distribution of resources across urban areas.

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    According to him, by prioritizing mixed-use development, creating walkable neighborhoods, and incorporating sustainable infrastructure that supports economic growth and community resilience, town planning can drive efforts to eradicate poverty.

    “The second goal aims to end hunger and achieve food security and improved nutrition by 2030. Nigeria continues to suffer from food insecurity with a deepening hunger crisis putting over 33 million people at risk in 2025.

    “Town planning must enable agriculture, transport corridors, processing zones and industrial areas by strategically designing urban spaces to promote sustainable food production, improve access to food markets, facilitate efficient food distribution networks, and encourage community-based initiatives for growing food within urban areas, ultimately enhancing food security for residents.

    “The third goal focuses on ensuring healthy lives and well-being for people of all ages. Life expectancy in Nigeria is low at 62.2 years and access to health insurance is poor with about 20m persons enrolled.

    “Town planning and urban renewal must prioritise people’s health and wellbeing by designing urban environments to facilitate access to healthcare facilities, promote active transportation like walking and cycling, provide green spaces for recreation, ensure adequate sanitation and clean water supply, promoting affordable housing with adequate ventilation and natural light for improved indoor air quality and encourage social interaction and community building while mitigating environmental hazards like air pollution.

    “The fourth goal is to ensure that all people have access to quality education and lifelong learning opportunities. Nigeria has more than 10 million children out of school and adult literacy was 63 per cent in 2021 compared to 97 per cent in China.

    “Town planning must cater for inclusive access to educational facilities in addition to encouraging students of town planning to do field visits to diverse habitats in both urban and rural environments,” Yusuf, who is also Managing Partner of Verraki Partners, said.

    According to him, town planning can help in achieving the fifth goal of gender equality by designing public spaces that are safe and accessible for women and girls, considering their specific needs; integrating gender-sensitive infrastructure like lighting and public toilets; ensuring proximity to essential services like healthcare, education, markets, public transportation; and actively engaging women in the planning process to address their concerns and priorities. 

    He added that by implementing zoning regulations that promote mixed-use development to facilitate women’s access to work and services, placing public spaces in visible areas with surveillance options, and addressing issues related to women’s land ownership to empower their participation in development, town planners can be major agents for sustainable development.

    On the area of access to clean water and sanitation, the sixth SDG goal, Yusuf said town planners can design urban spaces to optimise water infrastructure, incorporate rainwater harvesting systems, prioritize accessible sanitation facilities, and consider community needs when developing new neighborhoods, thus ensuring equitable access to clean water and proper sanitation for all residents, especially in rapidly growing urban areas.

    He added that town planning must also design efficient water distribution and piping networks that reach all areas of a city, including marginalised communities, to minimise water loss and ensure equitable access.

    According to him, town planning can promote greywater recycling by designing systems to reuse treated wastewater for non-potable uses like irrigation to reduce overall water demand and incorporate robust sewage collection systems to prevent contamination of water sources and promote proper sanitation.

    “The seventh goal is to ensure that everyone has access to affordable, reliable, sustainable, and modern energy. As of 2022, 60.5 per cent of Nigeria’s population had access to electricity. However, access to electricity is uneven across the country, with rural areas having the lowest access.

    “Town planning must integrate renewable energy sources like solar into urban design, facilitating infrastructure development for efficient energy distribution and promoting energy-efficient building practices like natural lighting, ultimately making clean energy more accessible and cost-effective for communities.

    “The eighth goal is to promote inclusive and sustainable economic growth by providing decent work for all. According to the National Bureau of Statistics (NBS) as at first quarter of 2024, 84 per cent of Nigeria’s working-class population is self-employed and 92.7 per cent of the employed population are working in the informal sector including jobs that are not regulated by formal labour laws and that lack social protection.

    “Town planners must design urban spaces that facilitate access to employment opportunities, encourage business development, provide adequate infrastructure, and prioritize inclusive development, thereby creating a conducive environment for both workers and businesses to thrive.

    “Practices such as zoning areas for mixed-use development to facilitate proximity between residential areas and employment hubs, reducing commuting time and costs; locating industrial zones with necessary infrastructure like transportation networks to support efficient logistics and market access; designing pedestrian-friendly areas within commercial districts to promote local businesses and economic activity; investing in public transportation systems to connect different parts of the city and improve worker mobility; and designing affordable housing options near employment centers to improve accessibility for low-income populations.

    “The ninth goal is to build resilient infrastructure, promote sustainable industrialisation, and foster innovation. Nigeria’s infrastructure stock is estimated to be 30 per cent of its GDP, which is below the World Bank’s international benchmark of 70 per cent. The World Bank estimates that Nigeria will need to invest $3 trillion over the next 30 years to address this infrastructure gap.

    “Land use and town planning must design urban spaces to include green spaces, industrial zones, innovation clusters, smart city technologies, green infrastructure, pedestrian friendly zones and integrated transportation networks to facilitate economic growth, attract investment, foster collaboration between businesses and research institutions, thus creating environments conducive to innovation and industrial development.

    “The tenth goal is to reduce inequalities within and among countries. This includes reducing inequalities in income, age, sex, disability, race, ethnicity, origin, religion, and economic or other status. There is high income inequality-Gini index of 0.49 in Nigeria with the income of the top one per cent of the population being 37 times higher than the income of the bottom 50 per cent.  The Lagos State Special Peoples’ Law (SPL) of 2011 protects the rights of people with disabilities in the State. The law provides for the provision of facilities at public buildings and prohibits discrimination and harmful treatment of people with disabilities in all aspects of life including health, education, work, and communication. The law encourages the government to promote the participation of people with disabilities in public life and politics.

    “Town planners must design cities to ensure equitable access to basic services like housing, transportation, healthcare, and education, particularly in marginalized areas, through initiatives like inclusive land use planning, developing mixed-income neighbourhoods, prioritizing public transportation, and integrating informal settlements into the urban fabric, ultimately creating more equitable and accessible urban environments for all residents.

    “The eleventh goal is to promote practices that will make cities and human settlements more inclusive, safe, resilient, and sustainable. A sustainable city is a city that is designed to reduce its environmental impact while also improving the quality of life for its residents. Sustainable cities are built on the principles of ecology, education, and equality.  Lagos is ranked 170th out of 173 cities in the EIU’s livability index.

    “Town planners must actively manage land use, prioritizing efficient public transportation systems, incorporating green spaces, promoting energy-efficient building practices, actively engaging communities in the planning process, and developing climate-resilient infrastructure, all while ensuring equitable access to services and amenities for all residents. We must design and implement building codes that promote energy efficiency, water conservation, waste management and sustainable construction materials,” Yusuf said.

    Under the 12th goal that seeks to promote responsible use of natural resources, some of whom are endangered and non-replaceable, the NESG Chairman said with Nigeria’s high rate of deforestation, town planning must design urban spaces to encourage efficient resource use, mixed use development and energy efficient building codes.

    He called for planning practices that prioritize walking and cycling, incorporate green infrastructure, promote local materials, implement waste management systems, educate communities about sustainable practices, and facilitate access to renewable energy sources, all while fostering collaboration with local stakeholders to tailor solutions to specific needs.

    On climate action, the 13th goal, he underscored the importance of taking actions to protect and preserve the climate, noting that the 2022 floods in Nigeria affected 33 states and many parts of the country, displaced over 1.4 million people, killed over 603 people, and injured more than 2,400 people.

    According to him, town planning must design urban spaces to manage floods, droughts, heatwaves, erosion and extreme weather events, through measures to manage flood plains, incorporating green infrastructure like parks and open spaces to enhance quality of life and promote healthy living, planning for sustainable transportation options like cycling and walking paths to mitigate environmental impacts and designing energy-efficient buildings to reduce carbon footprint and operational costs.

    Said he: “The 14th goal is to conserve and use the oceans, seas, and marine resources in a sustainable way. Oil spills and plastic waste have ravaged our coastal areas. Nigeria generates about 2.5 million tonnes of plastic waste annually. Shell in 2021 reported 3,300 tonnes of crude oil spills in Nigeria caused by sabotage, which was more than double the volume in 2020.

    “Town planning must design urban spaces to promote efficient water resources, conserve coastal and marine areas, and to protect and restore marine ecosystems.

    “The 15th goal is to protect and restore life on land. Nigeria is challenged by desertification in the north and erosion in the south, with some animal species such as the West African Lion, and the Western Gorilla been listed as a critically endangered species due to human activities.

    “Town planning must manage land use to ensure sustainable development, including protecting natural ecosystems, promoting access to essential services like water and sanitation, creating resilient communities against climate change, integrating agriculture with urban areas, and actively engaging local communities in the planning process, all while respecting existing land tenure systems and cultural practices.

    “The 16th goal is about promoting peaceful and inclusive societies, providing access to justice for all and building effective, accountable and inclusive institutions at all levels. For over a decade, we have witnessed insecurity, terrorism, banditry and social strife in all 6 regions of the nation. According to SBM Intel, no fewer than 7,568 people were abducted in 1,130 incidents across the country between July 2023 and June 2024. Town planners must design urban environments to provide infrastructure to all residents including marginalized communities to promote social cohesion and peaceful society.

    “The seventeenth goal is to strengthen the global partnership for sustainable development and improve the means of implementation. Nigeria has enjoyed technical and financial support from Global Foundations, UN Agencies and other multi-lateral institutions to improve sustainable development across the country. Town planners have a role to play and must partner with others for us to achieve all the 17 SDGs”.

    Yusuf pointed out that the SDGs are a call to action to end poverty, protect the planet, and to make cities and human settlements more inclusive, safe, resilient, and sustainable. 

    According to him, while some may see some of the goals as directly impacting town planning, reality is that the 17 SDGs are integrated and action in one area will affect outcomes in others, and as such, development must balance social, economic and environmental sustainability.

    “Sadly, 10 years after its launch, and 6 years to the end date of 2030, the world is far from realising the 17 SDGs. The 2024 assessment by the UNDP, ECA, and AfDB reveals that only six per cent of the 32 measurable SDG targets reviewed for Africa are on track to be achieved by 2030. Nigeria is on track to achieve only one-birth registration of the 231 unique indicators of the SDGs by 2030. The United Nations (UN) estimates that annual investment of between $5 and $7 trillion is required to achieve the SDGs. This includes investments in infrastructure, water and sanitation, clean energy, and agriculture.  Adapting to climate change in developing countries is estimated to cost between $160 and $340 billion annually by 2030.  This is the dimension of the SDG challenge before us and of which town planners can be an integral part of the solution,” Yusuf concluded.

    He called on town planners to rise above just designers of physical spaces to being visionaries who shape the future of cities.

    “Your role goes far beyond planning and building structures. You must continue to balance the intricate interplay of social, cultural, economic, environmental, and technological factors to create environments that are not only functional but also harmonious and sustainable. You must plan and design livable spaces that support community well-being, foster economic growth, and promote inclusivity.

    “You have a big role to play in ensuring that urban development supports the needs of today and is sustainable and resilient for future generations. The decisions you make today will have a lasting impact, shaping the way cities evolve, grow, and thrive. In essence, you are the real guardian of the galaxies, the custodians of the future and your work is essential to planning more sustainable cities for all – tomorrow’s urban landscapes – where human and economic development thrives in harmony with nature,” Yusuf said.

    He commended the NITP for sustaining the lecture series, describing the annual event as a worthy celebration of the TPL Waheed Kadiri, not only for his relentless contributions to the progress of physical planning profession in Nigeria but his immense contributions to humanity.

  • Ex-NESG chief Ahmed joins company’s board

    Ex-NESG chief Ahmed joins company’s board

    iCentra, technology and business solutions company, has appointed former Director General of Nigerian Economic Summit Group (NESG), Mansur Ahmed, to its Board of Directors. This strategic addition is to strenthen iCentra’s leadership to drive innovation, growth, and advance its mission of leveraging innovation and technology to transform people and organisations.

     Ahmed is a professional with 50-year career in public and private sectors, academia, and NGOs.

    An alumnus of Nottingham University (BSc Mechanical Engineering) and Cranfield University (MSc Industrial Engineering), he began his career in 1973 at Ahmadu Bello University before moving into top roles at NNPC where he headed the refinery and petrochemical operations as group executive director (1999 – 2003).

    Ahmed said: “I am excited to be part of iCentra’s journey and contribute to its vision of leveraging technology and innovation to address challenges in today’s dynamic business environment. I look forward to working with the board and leadership to achieve sustainable growth and create value.”

    In 2003, Ahmed became director general of NESG, driving advocacy for economic policy reform. In 2008, he left NESG to pioneer Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).

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    His work extended to African Continental Free Trade Area (AfCFTA) initiative. An Officer of the Order of the Federal Republic (OFR), he is a former president of Manufacturers Association of Nigeria, interim president of Pan-African Manufacturers Association and member of Africa Quality Policy Council.

    Ahmed retired in 2023 after a decade as group executive director at Dangote Group, focusing on government and strategic relations. He is a special adviser to the president of Dangote Group.

    Ahmed’s expertise in strategic management, governance, and business transformation aligns with iCentra’s vision

    “We are honoured to welcome Mansur Ahmed to iCentra Board,” said Taopheek Babayeju, chief executive officer. “His understanding of complex industries and his dedication to fostering innovation and sustainability make him invaluable to our leadership team…’’

     We are confident that his guidance will further our efforts to deliver transformative solutions to our clients and communities globally.”

  • Govt needs to review 115 opaque laws to stimulate economic growth, says NESG

    Govt needs to review 115 opaque laws to stimulate economic growth, says NESG

    The Nigeria Economic Summit Group (NESG) has identified 115 opaque legislations stalling Nigeria’s economic progress, thus sparking calls for urgent reforms to strengthen the country’s economic framework.

    This was disclosed by NESG Chief Executive Officer, Dr. Tayo Aduloju, during the group’s quarterly media engagement over the weekend.

    Aduloju revealed that the NESG’s Earnest Shonekan Centre is currently working to review and propose corrective versions of these laws. “We are addressing these legislative barriers with a focus on creating a clear pathway for economic revitalisation,” he said.

    Reviewing Nigeria’s economic performance in 2024, Aduloju noted that while inflation has begun to decelerate, its pace remains insufficient to ease the burden on Nigerians. He attributed the lingering inflationary pressures to structural challenges, including the removal of fuel subsidies and persistent instability in the foreign exchange market.

     “Though inflation is slowing, the structural issues driving it, such as the fuel subsidy removal and foreign exchange dynamics, remain significant,” he stated.

    To achieve meaningful growth, Aduloju stressed the need for a comprehensive redirection of economic policies. He urged the government to prioritise investments and spending plans that align with growth objectives while ensuring transparency and efficiency in social investments.

    Pointing out the importance of social programmes, Aduloju argued that increased social investment must be accompanied by visible accountability to gain public trust. “Social investments have struggled to gain citizens’ trust because they lack broad accountability. Without transparency and transmission efficiency, Nigerians will not believe these investments are impactful,” he said.

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    Speaking on Nigeria’s debt profile, Aduloju called for a shift in focus from debt-to-GDP ratios to the strategic purpose of debt. He noted that the key question is not the size of the debt but its usage in driving growth and productivity.

     “The real concern is not the debt-to-GDP or debt-to-revenue servicing ratios but the fundamental question: what is the debt pursuing? If debts are tied to consumption rather than productive investments, they fail to trigger economic growth and productivity,” Aduloju explained.

    He pointed out that while Nigeria’s debt-to-revenue servicing ratio has improved, from 123 percent in a previous cycle to 60 percent, the critical issue remains the alignment of debt with growth-enhancing projects.

     “The biggest challenge with Nigeria’s debt is the lack of clarity on what the debt is supporting. In recent years, it seems debts have primarily been used to keep the budget afloat, rather than driving key productivity sectors,” he added.

    Aduloju called on the media to play an active role in scrutinizing governments’ spending and debt utilization.

     “The media must spotlight the purpose of Nigeria’s debt. What are these debts supporting? Are they enabling economic transformation, or are they simply patching fiscal gaps? These are questions that need answers,” he said.

    Aduloju also called for a unified approach to redirect economic policies towards sustainable growth stating that “Economic growth must reflect in the balance sheet, investment priorities, and spending plans. While growth is essential, it must also be inclusive, ensuring that Nigerians are carried along through impactful social investments”.

  • ‘NES 30 to mobilise leaders to boost  growth’

    ‘NES 30 to mobilise leaders to boost  growth’

    Nigerian Economic Summit Group (NESG) has said its 30th summit will focus  on mobilising leaders to enhance Africa’s global economic standing.

    The summit: “Collaborative Action for Growth, Competitiveness, and Stability,” will create avenues for generations through shared prosperity.

    Also, the sub-theme: ‘unleashing business dynamism’ stands out as a critical point. NESG, in a statement by  Acting Head of Strategic Communication and Advocacy, Ayanyinka Anyanlowo, said key discussions revolve around innovation, entrepreneurship, and competition to spur jobs, improve infrastructure, and reduce bureaucracy.

    NESG noted since 1993, the summit has served as platform for public-private fora, driving the shift from state-led to private sector-driven economy.

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    This year’s edition, it said,  builds on that legacy; engage stakeholders to address challenges, improve competitiveness, and advocate policies promoting inclusive growth.

    “The summit will emphasise importance of meeting Africa’s aspirations in a global context through bold ideas and actions, supported by strong leadership at industry, national, regional, and global levels.

    “Since its inaugural in 1993, NES has been seen as Nigeria’s premier platform for public-private dialogue. Participants have advocated private sector engagement and cooperation with public sector. In 30 years, policymakers and business leaders have acknowledged NES as vital in shaping Nigeria’s policies and development strategies..