Posted Mon, Nov 8, 2021 5:31 AM

Securing our future: The fierce urgency of Now

The 27th Nigerian Economic Summit (NES27), "Securing our future: The fierce urgency of Now", which was held on the 25th and 26th of October, 2021 at the Transcorp Hilton Hotel, Abuja, assessed the current state of the economy, Nigeria's economic vulnerabilities that perpetuate regression, poor performance and the risks associated with such susceptibilities as a means of fostering a people-centred approach that will rethink Nigeria's economic, social, political and governance strategies targeted at reversing emerging trends and shaping a secured future of inclusive and sustainable economic growth.  

NES#27 had five Plenary sessions, Nineteen Interactive Panels, Debate, Co-creation Labs and Roundtable discussions where stakeholders discussed, debated, examined, explored and conceptualised ways Nigeria can reverse poor economic trends, improve the human capital base of the economy, mitigate security challenges and lay the necessary foundation that will leapfrog Nigeria into a future of high and sustained inclusive economic growth. 

The 27th Nigerian Economic Summit, which was jointly organised by the Nigerian Economic Summit Group (NESG), and the Federal Government represented by the Ministry of Finance, Budget, and National planning had discussions structured across the following five sub-themes - Economic Transformation, Shared Prosperity, National Security, Political Economy, and Digital Transformation, as stakeholders highlighted the inherent Risks, Opportunities and Priorities to accelerate and sustain inclusive economic growth driven by sub-national economies. 

NES#27 had several speakers, including the President of the Federal Republic of Nigeria, his excellency Muhammadu Buhari, the Vice President, his excellency Professor Yemi Osinbajo, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed. Other dignitaries who spoke at the event include the chairman of the board of the NESG, Mr Asue Ighodalo, former Prime Minister of Ethiopia H.E. Hailemariam Dessalegn Boshe, Governor of Ekiti State and Chairman Nigeria Governors Forum, Dr Kayode Fayemi, Governor of Kaduna State, Malam Nasir Elrufai, Governor of Kano State, Dr Umar Ganduje, Governor of Delta State, Dr Ifeanyi Okowa and a host of others. 

Prior to the 27th Nigerian Economic Summit, 10 pre-summit events were held across sectors that include MSMEs, Digital Economy, Circular Economy, Green Economy, Education, Health and Governance and Institutions. These events kickstarted the Summit discussions and were examined in further detail at the Summit. NES27 also presented a platform for stakeholders to highlight Nigeria's core socio-economic vulnerabilities and the associated risks to develop solutions that alleviate these vulnerabilities while exploring potential opportunities and priorities to accelerate economic development. 

In compliance with public health regulations associated with the COVID-19 pandemic requiring social and physical distancing, the 27th Nigerian Economic Summit hosted combined Virtual and In-Person sessions in 7 different languages and had 167 resource persons and a total of 6,212 attendees. 

NES27 also galvanised a renewed commitment of stakeholders to urgently and actively prioritise the pursuit of economic growth that can sustainably create jobs, lift millions out of poverty and enable Nigeria to realise its economic potentials on the global stage; identify the vital imperatives of leveraging modern technology to accelerate significant improvements in the social, economic and security conditions of Nigeria, and agree on a compact that compels stakeholders to take immediate actions and employ efficient monitoring mechanisms to ensure critical recommendations at the 27th Nigerian Economic Summit are urgently implemented. 

Yinka Iyinolakan 

Head, Corporate Communications 

NESG