Mohammed Shosanya
The Nigerian Economic Summit Group(NESG),says collaboration among key stakeholders would bring economic growth, competitiveness and stability in Nigeria’s quest for economic transformation.
Ms. Ayanyinka Ayanlowo, Acting Head, Strategic Communication & Advocacy, NESG, said this in a statement made available to Premium News on Monday.
“The call to action is clear: through collaboration, we can achieve growth, competitiveness, and stability, paving the way for a brighter future for Nigeria and the entire African continent”,she quoted in the statement.
She disclosed that the 30th Nigerian Economic Summit – Collaborative Action for Growth, Competitiveness, and Stability is billed to hold from October 14 -16, 2024 at the Transcorp Hilton, Abuja.
According to her,the NESG has been at the forefront of Nigeria’s economic transformation for three decades.
She said:”As a private sector-led think tank and policy advocacy group, NESG has tirelessly worked to bridge the gap between the public and private sectors.
“Its mission is to foster open and continuous dialogue on Nigeria’s economic challenges and opportunities, ensuring that the country’s economic policies are inclusive, forward-thinking, and conducive to sustainable development.
“As Nigeria prepares for the landmark 30th Nigerian Economic Summit (NES #30) with the theme, “Collaborative Action for Growth, Competitiveness, and Stability,” scheduled to hold from October 14-16, 2024, at the Transcorp Hilton Hotel in Abuja stands as a beacon for the nation’s future trajectory.
“This theme encapsulates the essence of what is needed to propel Nigeria, and indeed Africa, towards a more prosperous, inclusive, and resilient economic future.
“The summit’s discussions and outcomes will be pivotal in shaping policies and strategies that harness Nigeria’s potential to drive continental transformation.”
Ayanlowo said since the first Nigerian Economic Summit in 1993, the platform has been instrumental in Nigeria’s economic evolution.
“Convened amidst severe economic challenges, the initial summit aimed to transition Nigeria from a state-led economic model to a dynamic, private sector-driven economy.
“This fundamental shift in economic philosophy was necessary to foster innovation, efficiency, and competitiveness.For decades, Nigeria’s economy was marked by a government monopoly in business and industry, with state-owned enterprises (SOEs) dominating the landscape.
“These SOEs, supported by significant public investments, were intended to catalyse economic growth. However, over time, it became evident that a private sector-driven approach was more effective in driving sustainable growth and development.
“The Imperative of Collaboration.As we approach the 30th edition of the Nigerian Economic Summit, NESG is poised to facilitate groundbreaking discussions that will influence the nation’s economic policies and strategies.
“The theme, “Collaborative Action for Growth, Competitiveness, and Stability,” underscores the importance of collaborative action among all stakeholders.
“Governments, businesses, civil society, and international partners must synergise their efforts to address Nigeria’s and Africa’s socioeconomic challenges.
“This collaboration is essential for stability,growth and inclusivity.
According to her,over the years, NES has been a catalyst for significant economic reforms in Nigeria, particularly in the banking sector, telecommunications, maritime and seaports, and the energy sector.
These reforms have been crucial in creating a more efficient, competitive, and diversified economy,she said
“The NES platform has also been instrumental in fostering an environment that encourages entrepreneurship and innovation, driving Nigeria’s economic growth and global competitiveness,” she said.
She spoke on Nigeria’s role in Africa’s economic landscape,saying the country’s economic performance has a profound impact on the broader African region due to its size, influence, and interconnectedness.
“The country’s large domestic market, abundant natural resources, and significant corporate footprints make it a key player in the continent’s economic dynamics.
“As the most populous country in Africa, Nigeria’s economic health influences consumption, investment, and trade patterns across the region,” the statement said.
