Posted Tue, Aug 1, 2023 1:20 PM

FMBNP, NESG Inaugurates Joint Planning Committee of 29th Nigerian Economic Summit

L-R: Dr Tayo Aduloju, CEO-Designate, Nigerian Economic Summit Group (NESG); ‘Laoye Jaiyeola, outgoing CEO, NESG; Engr. NebeoIisa Anako, Permanent Secretary, Federal Ministry of Budget and National Planning; Ijeoma Taylaur, Co-Chair, Private Sector, 29th Nigerian Economic Summit (NES 29) Joint Planning Committee (JPC), and Felix Okonkwo, Co-Chair, Public Sector, NES 29 JPC, at the inauguration of the NESG, Federal Ministry of Budget and National Planning JPC for NES 29 in Abuja.

On Monday, the 31st of July, 2023, the public sector, represented by the Federal Ministry of Finance, Budget and National Planning and the Organised Private Sector, represented by the Nigerian Economic Summit Group (NESG), inaugurated the Joint planning committee (JPC) for the 29th Nigerian Economic Summit (NES#29). 

While welcoming participants to the event, the CEO of the NESG, Mr Laoye Jaiyeola, said that the inauguration of the NES #29 Joint Planning Committee marks the official commencement of preparations for the 29th Nigerian Economic Summit and that the Summit has consistently provided a reputable and widely recognised platform for fostering consensus and mutual understanding on the country's economic policy trajectory and growth strategies. 

Mr Jaiyeola noted that given the harsh realities that our nation currently faces, including weak economic growth, high poverty rates, a rising cost of living, increasing unemployment, and widening income gaps, the economic projections are a cause for concern. He stated that there is an undeniable need to reinvigorate our efforts to achieve sustainable economic development and that the 29th Nigerian Economic Summit represents a call for change, a clarion call for renewed commitment, and a dedicated effort to turn Nigeria's economy around for the better.

The permanent secretary, ministry of Budget and national planning, Mr Nebeolisa Anako, while inaugurating the JPC, said that the day marks the commencement of another summit year and that the NESG remains a shining example of collaboration between the government and the private Sector. He appreciated the co-chairs for producing the green book of the 28th Nigerian Economic Summit in record time and said that the ministry is in the process of facilitating the adoption of the recommendations of the Summit, which will be forwarded in the form of council notes to the Federal Executive Council (FEC). 

Furthermore, Mr Anako noted that the Summit provides an opportunity to strengthen existing relationships, noting that key outcomes play important roles in shaping government policies, and that the partnership has helped in the development of the National development plan 2021 – 2025 and long-term Plan Nigeria Agenda 2050. He also stated that members of the JPC were carefully selected in terms of interest in the development of the nation and are expected to review the outcomes of #NES28, make preparations for the hosting of #NES29, develop a program of events and timelines, articulate budgetary requirements and propose an optimal strategy for funding. He further noted that the JPC will also mobilise the public and private Sector at state, local government and development partners for the Summit and is expected to prepare and deliver the green book within three months.

Mr Felix Okonkwo, Co-chair public sector, in his remarks, said that the Summit is organised jointly by FMFBNP and the NESG, comprising members of the public and private Sector and that members of the JPC will do all they can to ensure the success of the Summit. Speaking in the same vein, the co-chair private sector of the JPC, Ms Ijeoma Taylaur, expressed her gratitude and noted the need to capitalise on all moments to ensure the Summit is a resounding success. 

The first Nigerian Economic Summit (NES#1) was held from February 18-20, 1993. Participants at NES#1 concluded that it is imperative for the private sector to dialogue and cooperate with the public sector continuously. Since that first Summit, the Nigerian Economic Summit Group, a private sector think-tank and nonprofit organisation, has organised the Annual Nigerian Economic Summit in partnership with the Federal Government of Nigeria. The NES has become an annual dialogue and, indeed, the flagship event of government and business. The Nigerian Economic Summit has provided a credible and widely recognised platform for forging understanding and consensus on the national economic policy direction and growth strategies. Over the past 28 years, national and global policymakers and business leaders have acknowledged that the annual NES is the premier platform for public-private dialogue in Nigeria.