…29 Nig Economic Summit Joint Planning Committee 

By Tony Obiechina, Abuja 

The Federal government has formally inagurated the Joint Planning Committee for the 29th Nigerian Economic Summit (NES#29) scheduled to hold on 24th and 25th October, 2023 in Abuja.

Speaking at the inauguration in Abuja, the Permanent Secretary, Ministry of Budget and National Planning, Nebolisa Anako said in order to ensure effective preparation for the 29th Summit,  members of the JPC have been carefully selected in recognition of their pedigree, experience and knowleage in organizing previous Summits as well as keen interest in the development of the country.

He charged members of the committee to among others:

*Review the events/outcomes of the 28th Economic Summit;

*Make al preparatory arrangements for the successful hosting of the 29th Nigerian Economic Summit (NES#29), including developing programme of and timelines

for the implementation of the key activities at the Summit; 

*Articulat the budgetary requirements, and the sources of funds for hosting the Summit;

*Propose the optimal strategy for funding the activities of the JPC and the Summit;

*Mobilize relevant public and private sector stakeholders for the Summit, especially at the Federal, State and Local Governments, as well as Development Partners and other key stakeholders;

*Prepare the Green Book for the NES #29, within 3 months of the completion of the Summit; 

*Undertake any other work that may lead to the successful hosting of the Summit.

The Permanent Secretary appreciated the Public and Private Sector Co-chairs and member JPC for successfully organizing the 28 Nigerian Economic Summit and for working round the clock to produce the Green Book for the Summit in record time. 

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“I am aware that copies of the Green Book have been received by the Ministry and is being distributed to Federal Ministries Departments and Agencies (MDAs) as well as other critical stakeholders to facilitate the implementation of the Summit recommendations.

” I am also pleased to inform you efforts have been concluded to forward the Summit recommendations and outcomes to the Federal Executive Council (FEC) in form of Council Note for their information and guidance”, Anako.

He further stated that the Summit “provides a veritable platform for dialogue among policy makers, corporate leaders, organized private sector, civil society organization as well as development partners. It also provides the opportunity to strengthen the existing mutual and symbiotic relationship between the Public and Private sector business environment in the overall interest of our dear country”.

He noted that key outcomes of the annual Summits have always played important roles in shaping the policies of Government, adding that the Summit had in the past contributed to entrenching the culture of development planning in the country. 

The Permanent Secretary added that the partnership had helped immesly in the development of the National Development Plan (NDP) 2021-2025 and the Nigeria Agenda 2050, stressing that the contributions of the group will continue to endure going 

Speaking earlier, the Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Laoye Jaiyeola said since the establishment of the NESG in 1993,  Summit has experienced significant growth, evolving into an annual gathering that unites influential policymakers, private sector leaders, and representatives from civil society for vital discussions. 

He noted that as a crucial event for the government and business communities, it consistently provides a reputable and widely recognised platform for fostering consensus and mutual understanding on the country’s economic policy trajectory and growth strategies.

“Throughout its three-decade existence, the NES has garnered praise from national and international policymakers and business leaders, solidifying its status as the primary avenue for facilitating constructive public-private dialogues within Nigeria.

“However, as we acknowledge these advancements, we must also confront the harsh realities that our nation currently faces. Weak economic growth, high poverty rates, a rising cost of living, increasing unemployment, and widening income gaps continue to challenge us. 

“These economic headwinds indicate that this is no time for a business-as-usual approach to economic governance. 

In 2022, the global economy encountered many obstacles, including heightened political risks, energy and food shortages, and the lingering impact of the COVID-19 pandemic. 

“Despite these formidable challenges, Nigeria’s economy exhibited resilience, sustaining its recovery from the recession of 2020 with an impressive 3.0 per cent expansion in real Gross Domestic Product (GDP) during the initial three quarters of the year”, he stated.

Olaoye pointed out that the 29th Nigerian Economic Summit is not just an annual event but  represents a call for change, a clarion call for renewed commitment, and a dedicated effort to turn our economy around for the better.

“We gather here today to justify the need for this year’s Nigerian Economic Summit. It seeks to be a pivotal turning point in our nation’s journey towards economic transformation. We must address the challenges head-on, engage in frank discussions, and devise innovative strategies to yield tangible results for all Nigerians.

“The NES #29 aims to achieve several crucial objectives. Firstly, it will facilitate an open and constructive dialogue that incorporates the views and ideas of all stakeholders. Secondly, it will foster an environment of collaboration, where the public and private sectors can work together hand in hand to co-create solutions that lead to shared prosperity. 

“Thirdly, it will serve as a platform to present actionable recommendations to the government to formulate effective policies and reforms”, he added. 

The NESG CEO commended the Ministry of Finance, Budget, and National Planning for their unwavering commitment to the partnership between the Nigerian Economic Summit Group and the Federal Government, adding that “through this synergy, we have achieved significant strides in the past, and through this partnership, we envision achieving even greater success”.

He also commended my President Bola Ahmed Tinubu and Vice President Kashim Shettima for their commitment “to sustain this 30-year collaboration that fosters honest and candid dialogues in the national interest on the platform of the Nigerian Economic Summit. Their belief in the power of public-private partnerships will be instrumental in driving the success of this forum, and we remain steadfast in our dedication to working together for the betterment of our nation”.

…29 Nig Economic Summit Joint Planning Committee