The Nigerian Economic Summit Group (NESG) and the Nigerian Governors Forum (NGF) inaugurated the NESG-NGF Economic Roundtable steering committee on the 21st of April 2021.
The inauguration which held virtually had in attendance the Chairman of the NGF and Governor of Ekiti state, Dr. Kayode Fayemi. Other governors in attendance were: Governor of Nassarawa State, Engr. A.A Sule; Governor of Gombe State, Muhammed Inuwa Yahaya; and Governor of Oyo State, Engr. Seyi Makinde and Deputy Governor of Ebonyi State Mr. Eric Kelechi Igwe
The virtual inauguration was attended by NESG Board Members such as: Mr Asue Ighodalo, Mr. Folusho Philips, Mr. Udeme Ufot, Ms Amina Maina and Mr. Kyari Bukar, Managing Partner of Trans-Sahara Investment Corporation. Other representatives of the private sector include: Mrs. Funke Opeke, CEO MainOne Cable; Mr. Chidi Ajaere, Chairman GIG Group.
Dr. Kayode Fayemi, Chairman of the NGF and Executive Governor of Ekiti State, while formally inaugurating the NESG-NGF Economic Roundtable (NNER) steering committee said the idea of the NESG-NGF Economic Roundtable was to work on policy issues that strengthen institutions and democracy and that the steering committee is tasked with strengthening institutional relationships between all tiers of government.
While delivering the welcome remark, the Chairman of the NESG, Mr. Asue Ighodalo said that the NNER is based on the Memorandum of Understanding (MoU) signed between both institutions in October 2020. He stated that it has become apparent for subnational governments to step forward and help create an industralised and diversified Nigerian economy. Furthermore, Mr. Ighodalo stated that rising inflation, depreciating currency, falling foreign reserves and a host of economic problems makes it imperative for subnational governments to become empowered to drive long term economic growth.
The NESG Chairman said that the 26th Nigerian Economic Summit recommended actions include enhancing subnational competitiveness and urged states to focus on their strengths and identify their endowments to create an enabling environment that attracts investments. He reiterated the need for states to increase investment in critical infrastructure that can help drive growth into various sectors of rural and state economies. Mr. Ighodalo implored state governments to adopt and implement the recommendations of the 26th Nigerian Economic Summit and enjoined them to build strong institutional frameworks to fix institutional problems; adopt consistent policies and provide the necessary support, capabilities and capacities that will enhance rural development, deepen partnerships and build the capacity for subnational economies to drive economic growth.