Posted Tue, Sep 17, 2019 3:09 AM

Minister Lauds NESG at Media briefing for the 25th Nigerian Economic Summit (NES#25)

The Nigerian Economic Summit Group (NESG) and the Federal ministry of Finance, Budget and National Planning held a media briefing on the forthcoming 25th Nigerian Economic Summit (NES#25) at the Federal ministry of Finance, Budget and National Planning Auditorium, Abuja Lagos on the 16th of September, 2019.

The chairman of the board of the NESG, Mr. Asue Ighodalo in his statement stated that the annual Nigerian Economic Summit (NES) has been essential to the progress that has been made in the Nigerian economy towards ensuring that it transforms into an open, private sector-led economy. He said that the NES serves as a premier policy dialogue and advocacy platform and serves as the point of convergence and reference for policy and legislative change.

He noted that the NES has remained committed to six core principles that continues to define the underlying economic philosophy that serves as the premise for a globally competitive 21st Century Nigerian economy. He made it known that the annual Economic Summits have also successfully advocated the need for a long-term vison which led to Vision 2010 and later Vision 20: 2020 as well as medium term plans such as the current Economic Recovery and Growth Plan (ERGP).

Furthermore, Mr. Ighodalo revealed that the Nigerian Economic Summit has also been able to provide a platform for robust deliberation in marketing Visions and Plans including the National Economic Empowerment and Development Strategy (NEEDS) and the Transformation Agenda.

More so, the chairman of the NESG said that the 25th Nigerian Economic Summit will feature the 3rd edition of the Start-Ups Pitching Event which is an initiative of the NESG to encourage start-up businesses with technical and finance support. He revealed that the top three applicants will be presented with prizes as capital to grow their businesses in addition to free technical advisory services from top consulting and law firms. He also mentioned that awards and prizes will be presented to winners of the NESG’s 25th Anniversary Essay Competition for undergraduates in Nigerian Universities and winners of the ‘2050: Nigeria of our dreams’ Art Contest.

The Honourable Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed while briefing the press, stated that the 25th Nigerian Economic summit (NES#25) which will take place at the Transcorp Hilton, Abuja on the 7th and 8th of October, 2019 is unique because it marks a historic milestone and is a celebration of the continued engagement between the public and private sectors which has been sustained over the years. She made it known that the Summit has become a veritable platform for dialogue between the leaders of Public and Private Sectors and that the forum provides opportunity for interaction, sharing thoughts and building consensus on issues relating to the Nigerian economy.

She reiterated that the NES brings together development partners, the civil society and representatives of the academia as well as provides participants the unique opportunity to interact on issues of national development whilst evolving a common strategy and policy framework for addressing them, while also helping to shape many of the reform policies underpinning the evolution of Nigeria’s economic growth and development.

Furthermore, the honourable minister revealed that the theme of the Summit, is “Nigeria 2050: Shifting Gears” and that it emphasizes the imperatives for the country to move to a more robust and competitive private sector economy, while discussing the implication of the projected population of the country hitting over 400 million by 2050, with 65% of the population under the age of 35. She stated that the figure will put an unimaginable pressure on educational institutions, structures, resources and manpower; and that only a competitive private sector led economy will drive the process of economic prosperity for all Nigerians.

Mrs. Ahmed noted that the 2019 edition of the NES will be anchored on Plenary, Breakout Sessions and Round Table Discussions and that key outcomes of past Summits and their impacts on the Nigerian Economy will also be reviewed. In addition, she said the summit will feature Startup Pitching Events which was introduced as a means of connecting startups registered in Nigeria and are doing business for no more than 3 to 5 years and seeking to raise needed funds. Selection will be based on innovativeness, market size and diversity.

She concluded by saying the Summit will also assist in proffering solution on how to maximize the large workforce, reap the demographic dividends and achieve a competitive economy that is inclusive leading to improved standard of living and economic prosperity for the citizenry and solicited the support of the media for adequate coverage and reportage of the 25th Nigerian Economic Summit, (NES#25).

The Nigerian Economic Summit (NES) is the flagship event of the Nigerian Economic Summit Group (NESG) and the 25th Nigerian Economic Summit (NES #25) is expected to set a new agenda for Nigeria. It is also expected to usher in the next industrial revolution and mark a critical strategic shift to a competitive private sector economy by 2050 through a renewed focus on investments in human capital development to achieve competitiveness and inclusive growth. The 25th Nigerian Economic Summit with the theme “Nigeria 2050: Shifting Gears” is scheduled to hold on the 7th and 8th of October 2019 at the Transcorp Hilton Hotel, Abuja.

The Nigerian Economic Summit Group (NESG) is a private sector led think-tank organisation that promotes sustainable growth and development in the Nigerian economy. The group is a not-for profit/non-partisan organisation with a mandate to promote and champion the reform of the Nigerian economy into an open, private sector-led economy that is globally competitive on a sustainable basis. Over the years, it has emerged as the leading platform for public-private dialogue in Nigeria.