Who We Are
The Nigerian Economic Summit Group (NESG) was incorporated in 1996, as an independent, non-partisan, not-for-profit organisation.
In 1993, a group of passionate and concerned private sector leaders representing key economic sectors conceived the Nigerian Economic Summit (NES) and sustained it as a platform for bringing together private sector leaders and senior public sector officials to discuss and dialogue on the future of the Nigerian Economy.
Three years later, in 1996, the NESG was established and incorporated as a non-profit, non-partisan private sector organization with a mandate to promote and champion the reform of the Nigerian economy into an open, private sector-led globally competitive economy.
Over the years, it has emerged as the most important platform for public-private dialogue in Nigeria. During this period, the organization has accomplished a great deal in terms of research outputs and implementation of programmes, seminars, conferences, and workshops aimed at facilitating the formulation and implementation of social and economic reform programmes for the growth and transformation of the Nigerian economy.
In addition, the organization has established an excellent working relationship with the Government of Nigeria, the public sector, private sector, and other stakeholders.
The flagship of the group’s advocacy efforts has been the annual Nigerian Economic Summit (NES), which provides Government and private sector an opportunity to review the progress made in our economic reform effort and agree with practical ways to manage issues which may have constrained effective policy implementation.
The NESG is dedicated to achieving sustainable economic development in the national interest through responsible private sector initiatives.
We aim to help create an enabling environment conducive to good governance, responsible private investments and sustainable economic growth in Nigeria.
Our overarching objective is to forge a mutual understanding between leaders of thought from private and public sectors so as to discover, explore and support initiatives directed at improving Nigeria’s economic policies, its institutions, and competitive business climate.
We dialogue, We Intervene, We Connect, and We Shape Policies...
The NESG has been in the vanguard of Nigeria’s campaign to create an enabling environment conducive to good governance, responsible private investment and sustainable economic growth. It has championed the adoption of ethical business practices and continues to encourage ongoing dialogue between public and private sector leaders.
Over the years, the NESG has recorded successes and has helped to introduce a number of changes in the economic environment. These changes range from policy reforms, education and opinion-molding to the encouragement of free market concepts. It has also successfully championed an alternative, proactive economic agenda and succeeded in establishing the Summit Process- a forum for public-private sectors dialogue, which has helped to reduce the former mutual suspicion between the two sectors.
The NESG has also used the NES platform to make suggestions and generate ideas on how to move Nigeria from a third world economy to a first world force. These discourses covering various sectors of the economy, which include: Agriculture and Food Security; Energy (Oil & Gas); Human Capital Development; Governance and Institutions; Infrastructure; Trade Investment and Competitiveness; Real Services Sector; Science and Technology; Governance and Institutions; SME, Finance and Financial Markets; attracting
FDls, etc., have been converted into policy and working documents for the government at all levels.
The Federal Government has consistently adopted the recommendations of the Nigerian Economic Summit. There can be no doubt that the NESG’s activities have exposed policy makers to the global realities and provided the international community with a credible information source. Most importantly, the NESG has also successfully sold the concept of free market, private sector-led growth, and deregulation.
The year 2018 was indeed a challenging one with the overall macro-economic environment being characterized by bursts of growth and deceleration. While GDP stood at 1.95% in Q1, it declined to 1.50% in Q2, and while it was thought that there may have been an improvement in Q3, the figure of 1.81% released by the National Bureau of Statistics shows that Q1 GDP remained our best performance yet in 2018. Businesses have however continued to struggle to remain operational despite bursts of growth and contraction in several sectors of the economy. Unemployment and insecurity continue to be the main issues to contend with in the environment even as we head towards the polls in 2019.
This report captures notable events and initiatives embarked on in the year 2017 inline with strategic roles. It highlights the growing profile and expanding role of the NESG in the reform of the Nigerian Economy
The year 2016 has indeed been a challenging one as the full impact of global dynamics at play that began to unravel towards the end of 2015 in the macro-economic sphere came to bear. Needless to say, the current recession and FX
pressures have only made an already bad situation worse as Corporates, SMEs as well as individual all groan under
More Achievements of The NESG
The National Assembly Business Environment Roundtable (NASSBER) was created as a platform for the legislature and the private sector to engage, deliberate and take action on a framework that will improve Nigeria’s business environment through a review of relevant legislations and provisions of the Constitution.
- National Assembly
- Nigerian Economic Summit Group (NESG)
- DFID through the ENABLE II & GEMS3 programmes
- Nigerian Bar Association (NBA) – Section on Business Law.
NASSBER has been represented in the Technical Committees to the Senate and House of Representatives Committees on several of these bills.
On July 21, 2016 the Senate passed the Nigerian Railway Corporation Act 1955 Repeal& Re-enactment Railway Bill, 2016 (the NASSBER legislation to be passed by any chamber of the National Assembly).
JOB CREATION UNIT OF THE OFFICE OF THE VICE PRESIDENT
Since 2016, the Job Creation Unit (JCU) in the Office of the Vice President has been working with the private sector through NESG support to develop a Strategic Implementation Framework for creating jobs in Nigeria.
It is expected that programmes designed by the private sector committee (which was inaugurated on March 16, 2016) will create 3 million jobs in the next two years and match skills with competencies required for sustainable employment.
Five key sectors of the economy have been identified as pillars for job creation in the Framework. They are Construction, ICT, Retail Trade, Agriculture and Renewable Energy. A major outcome of this include ongoing work in the areas of agriculture and renewable energy. The development of a funding model to be mobilized by the private sector to create access to funding and technical support for job creation in the highlighted focus areas.
RESPONSE TO HUMANITARIAN CRISIS
The NESG has taken strategic interest in Nigeria’s humanitarian issues since 2014. Particular focus has been on the North East for obvious reasons. Apart from having a designated plenary for this at the annual summits since 2014, the following steps have been taken:
- Partnered with United Nations Office for the Coordination of Humanitarian Affairs (UN OCHA) in December 2015 to mobilize private sector around the issues in a bid to commence dialogue in this regard.
- As a follow-up a field visit to Maiduguri was undertaken in partnership with National Emergency Management Agency (NEMA) and the United Nations Office for the Coordination of Humanitarian Affairs (UN OCHA) from January 15 to 17. Led by Chairman Kyari Bukar, the objective was to afford private sector member organizations of the NESG an opportunity to engage with humanitarian actors and stakeholders. It also served as a platform for members to see firsthand, the realities on ground in a bid to mobilize response for the humanitarian situation in the state.
- Since then, partnerships have been formed with multi-actors to form the Connecting Business initiative which is situated under NESG Governance and Institutions Policy Commission to address Nigeria’s humanitarian issues.
- Most recently, NESG has been invited to the membership of the Private Sector Advisory Group on SDG’s in Nigeria. This is expected that this would help to better align public-private partnerships for sustainable development in Nigeria.