NEWS
NESG, Ministry Inaugurate Joint Planning Committee for 30th Economic Summit
By Tony Obiechina, Abuja
The Public Sector, represented by the Federal Ministry Budget and Economic Development and the Organised Private Sector, represented by the Nigerian Economic Summit Group (NESG), on Tuesday inaugurated the Joint planning committee (JPC) for the 30th Nigerian Economic Summit (NES#30).
While welcoming participants to the event, the Vice Chairman of the NESG and Chairman of the NES#30 Anniversary Committee, Mr Omoboyede Olusanya, said that the inauguration of the NES#30 Joint Planning Committee marks the official commencement of preparations for the 30th Nigerian Economic Summit.
According to him, 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.
Furthermore, Mr Olusanya said that the 30th anniversary presents an opportunity to reflect on a legacy that has played a critical role in promoting Nigeria’s transition to a private sector-led economy and that the journey of strategic innovation and steadfast collaboration is vital for Nigeria’s continued economic development
He noted that Nigeria has encountered various economic and political obstacles in recent years, underscoring the urgent need to redesign its systems and address structural issues.
“One of Nigeria’s pressing concerns is translating economic growth into improved living standards for all its citizens. Despite experiencing growth, the country grapples with rising unemployment, income disparity, and multidimensional poverty.
“These challenges are worsened by an uneven allocation of resources, macroeconomic instability, and institutional deficiencies. Moreover, the new government implementation of fuel subsidies and exchange rate reforms in quick succession has had unintended adverse effects, exacerbating existing structural issues.
“On the flip side, international organisations have applauded the long overdue reforms and have revised Nigeria’s credit rating outlook to positive from stable. Furthermore, the twin reform has led to significant improvement in Nigeria’s current account, Federation account allocation and Foreign Direct Investment (FDI) inflows,” Mr Olusanya stated.
He pointed out that the NES has played a crucial role in shaping Nigeria’s economic policies and development strategies over the years and that its advocacy and recommendations have led to significant reforms in the banking sector, telecommunications, maritime and seaports, and the energy sector, among others, noting that each step, from privatising state-owned enterprises to the liberalisation of the telecommunications sector, has moved Nigeria towards a more efficient, competitive, and diversified economy.
The permanent secretary of the Ministry of Budget and Economic Planning, 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.
Anako also noted that the Summit provides an opportunity to strengthen existing relationships, noting that key outcomes play essential 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 #NES29, make preparations for the hosting of #NES30, 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.
The theme of NES#30 is “Collaborative Action for Growth, Competitiveness, and Stability,” and it is scheduled to hold between the 14th to 16th of October, 2024. The Summit will catalyse discussions aimed at mobilising leaders to address pressing economic realities. The focus will be on navigating uncertainties and turbulence and fostering an environment that encourages innovation, diversification, and sustainable development.
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 30 years, national and global policymakers and business leaders have acknowledged that the annual NES is the premier platform for public-private dialogue in Nigeria.
By David Torough, Abuja
A member of Nigeria’s opposition People’s Democratic Party (PDP) has publicly disavowed his role in a recent protest targeting Bello Matawalle, the country’s Minister of State for Defence, claiming the demonstration was a politically motivated scheme orchestrated by the Zamfara State Government.
Kamilu Ibrahim, who identified himself as an active PDP member and one of the protest’s organisers, issued a statement on Saturday retracting his involvement and apologising to Matawalle. “It’s important to note that I am not an indigene of Zamfara State, and none of the participants come from Zamfara State.”He alleged that the protest was not driven by genuine grievances but was instead sponsored by Zamfara’s PDP-led government under Governor Dauda Lawal Dare to discredit Matawalle, a prominent figure in the rival All Progressives Congress (APC).Ibrahim said Dauda promised us $100 to each protester, and we have over 330 members. He has not kept his promise.”The reason we are begging Matawalle to forgive us is that we found out we were fooled and misled by false information to deceive the public. “We are sorry for any damage we have caused you, Ibrahim told Matawalle.“I believed at the time that our actions were justified,” Ibrahim said. “However, after reviewing the facts and listening to credible reports, I now realise that the allegations against Matawalle are unfounded and politically motivated.”Ibrahim further claimed that the organisers of the protest were not APC members, as reported in some media outlets, but PDP loyalists acting on instructions from the Zamfara State Government. He accused Governor Lawal of orchestrating the campaign to undermine Matawalle for political gain. Ibrahim suggested that Governor Lawal has been avoiding a summons by Nigeria’s National Assembly, fearing that a federal inquiry could expose administrative failures and potentially lead to the declaration of a state of emergency in the state.“Governor Lawal is deliberately avoiding the National Assembly’s invitation,” Ibrahim alleged, citing concerns that an investigation could reveal “the truth” about the state’s security and governance challenges.Ibrahim’s statement casts fresh doubt on the credibility of the allegations against him, framing them as part of a broader political vendetta.In his statement, Ibrahim expressed regret for his role in the protest and sought Matawalle’s forgiveness. “I sincerely apologise to Honourable Bello Matawalle for the role I played,” he said, vowing not to participate in “such deceitful agendas” in the future.
The Head of Mechanical department of the Standards Organisation of Nigeria (SON), Mr Ijacha Ego, has urged stakeholders, especially, manufacturers to always seek its assistance in the area of quality control for their products.Delivering a lecture titled: “The Impact of SON Activities on the Nation’s Economy Development” at its sensitisation workshop in Asaba on Friday, Mr Ego noted that the main task of SON is to ensure quality of products in the country.
Giving an overview of activities of SON, Ego disclosed the organisation has multiple testing laboratories tor products and urged the stakeholders to get closer to the organisation for quality control of their products and goods. ”Get close to SON, SON is available and willing to support your businesses, ” he emphasised.In his presentation titled: ”Promoting Quality and Standards Culture via Self- Regulation And Ethic Codes”, The Head of Department, Science Laboratory Technology, Delta State Polytechnic, Ogwashi-ukwu, Mr Timothy Oni, emphasised the need for owners of businesses to establish clear policy and procedures to ensure better compliance.Oni, a guest speaker, advised them to always ensure they educated their employees through regular training as well as regular auditing.Also, the Director of SON in charge of the South South Zone, Mrs Patience Kussy-Wanza, in her presentation, urged the participants to prioritise promotion of quality standards through self-regulation and observations of ethics to increase their organisation’s profit.“It will earn you tremendous respect, unquantifiable goodwill and global recognition, all of which significantly ensure globally competitiveness.”She emphasised that apart from being a regulatory agency, “we are indeed your partner in this critical imperative.”We are willing and available to support you to embrace standards and qualify assurance in your operations with just a visit or a call for necessary support or information”.(NAN)
The Lagos State Government, in collaboration with LASACO Assurance Plc, on Friday presented cheques worth N978.62 million to 510 beneficiaries as insurance death benefits for the dependents of deceased public servants in the state.The Commissioner for Finance, Mr Abayomi Oluyomi, who led the presentations, said that N978.
62 million was presented to provide relief for families of the deceased workers. He commiserated with the families of the deceased and explained the role of government in ensuring the welfare, safety, and wellbeing of citizens. Oluyomi asked for forgiveness from beneficiaries who had anticipated the payments earlier than they came, while acknowledging their difficulties after losing their beloved ones who were in active service of the state.According to him, all the staff of Lagos State know that the government is taking care of them, whether they are alive or not.“So, today, in consideration of what this particular government has been doing, we are going to be giving out cheques to over 510 people, totaling close to one billion Naira,” he said.He called for financial prudence from beneficiaries and patience on the part of those not captured in the current phase, adding that another batch will come up in three months.The commissioner, who earlier called for a minute’s silence to honour the departed, prayed for the repose of their souls and the wellbeing of those they left behind.He commended Gov. Babajide Sanwo-Olu of Lqgis State for huge investments in the workforce and assets for the overall wellbeing of Lagos residents.“This year alone, we paid a premium of over N3 billion to LASACO Assurance Plc for people and assets insurance,” he said.The Permanent Secretary, Ministry of Finance, Mr Mahmud Alao, called for financial diligence, urging the beneficiaries to shun the temptation of lavish spending that may jeopardise the intent of the funds as succor.He said the 510 beneficiaries received N978.62 million in this first batch of the exercise for 2025, adding that other phases would follow in quick succession.Mr Femi Saheed, the Chairman of the House Committee on Finance in the Lagos State House of Assembly, explained the lawmakers’ oversight function in ensuring the government’s compliance with its insurance obligations.Saheed praised the executive arm for its diligence while urging civil servants to take out insurance policies to complement the government’s efforts for their welfare.The Managing Director, LASACO Assurance Plc, Mr Rasaq Abiodun, commended the state government for its consistency in the payment of insurance premiums on its workforce.He advised beneficiaries to invest wisely while assuring that the company will continue to support the course of the state government and workers.The Chairman, Association of Senior Civil Servants of Nigeria (ASCSN), Mr Segun Balogun, also thanked the state government for its commitment and consistency regarding workers’ welfare, while also demanding financial intelligence from beneficiaries.Mrs Constance Ajayi, who spoke on behalf of other beneficiaries, thanked the state government for coming to their aid while explaining the difficulties arising from the demise of her husband. (NAN)
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