BUSINESS
FG Inaugurates 29 Nig Economic Summit Joint Planning Committee

…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.
Read Also: NESG Holds Economic Summit Next Week, Cancels Presidential Debate
“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
Agriculture
NNPC Foundation Reiterates Commitment to Ensuring Food Security

The Nigerian National Petroleum Corporation (NNPC) Foundation has renewed its commitment to ensuring food security in the country.
Mrs Emmanuella Arukwe, Managing Director, NNPC Foundation, said this on Wednesday in her remarks during the training of vulnerable farmers in Akwa Ibom.
Arukwe said that 6, 000 farmers across the country would be trained on modern farming methods and market access strategies to boost food production in the country.
Arukwe, who was represented by Dr Bala David, Executive Director, Programme Development and Coordinator, NNPC Foundation, added that the Foundation was dedicated to implementing impactful programmes that aligned with national priorities.
She said that more than 500 farmers in Akwa Ibom were trained by the NNPC Ltd Agricultural Training Initiative for Vulnerable Farmers on modern methods and strategies to boost food production.
Arukwe added that the farmers were drawn from the state’s 31 local government areas to participate in the training to equip them with techniques and market access strategies to add value to their businesses.
“This programme is a testament to our unwavering commitment to food security, economic empowerment and national development.
“As the corporate social responsibility arm of NNPC Ltd, the Foundation is dedicated to implementing impactful programmes that align with national priorities.
“This initiative is part of our broader efforts to support the Federal Government’s agricultural transformation agenda, which seeks to enhance food security, increase productivity, and improve the livelihoods of smallholder farmers.
“Our goal is to equip every participant with the tools, knowledge, and resources needed to transition from subsistence farming to commercial-scale production,” Arukwe said.
In her remarks, Dr Offiong Offor, Commissioner for Agriculture and Rural Development, Akwa Ibom, thanked NNPC for the initiative to equip farmers with knowledge on modern farming.
Offor, represented by Dr Atim Okoko, Permanent Secretary, Ministry of Agriculture and Rural Development, said that a nation that trained farmers was a nation that would not go hungry.
“I want to express the state government’s appreciation to NNPC for mounting this laudable programme.
“A nation that starts to train farmers, a nation that starts to look at farmers will never go hungry.
“In this season that our President Bola Tinubu has come up with his Renewed Hope Agenda, everything is to end hunger in Nigeria,” Offor said.
The commissioner added that the programme came to complement what the state government was doing to ensure food sufficiency.
Responding on behalf of farmers, Mr Bassey Inwang, State Chairman, All Farmers Association of Nigeria (AFAN) said farmers in the state were so grateful for the training.
Inwang said the training would boost food production in the state, as the farmers would apply the knowledge gained on their farms for increase in yields.
He said, “We want to tell you that we will not take this training for granted, we will apply it properly on our farms.” (NAN)
Agriculture
FG Trains 120 Youths On Poultry Farming In Plateau

The Federal Government has commenced free six months training for 120 Plateau youths on poultry farming.
The training is through the National Youth Skills Acquisition Fund (NYESAF), under the Innovation, Development and Effectiveness in the Acquisition of Skills (IDEAS) Project.
Dr Daniel Jarafu, Chief Executive Officer (CEO) VetVille Nigeria Limited, one of federal government’s training service providers in charge of the training, said this on Saturday in Jos, at the flagoff of the programme.
Jarafu, said the project was a deliberate effort by the federal government to empower youths with skills that would make them skillful, self sufficient, employers of labour and in turn, boost economic growth of the nation.
According to him, the six months training is segmented into three months theoretical and three months practical aspects .
He further explained that at the end of the programme the trainees would sit for the National Skills Qualifications (NSQs) examination to earn a national certification which would be equivalent to certification earned in the formal education system.
Earlier, Prof. Arhyel Balami, the Guest of Honour, said the initiative by the federal government was highly laudable as it would lead to the empowerment of youths with hands on agricultural skills that would make them productive with sustainable livelihoods.
Balami, urged the trainees to make the best use of the training by being diligent, showing up and paying rapt attention during the course of the training.
The News Agency of Nigeria (NAN) reports that NYESAF is to train 75,000 youths nationwide, with the aim of enhancing job creation, entrepreneurship, and economic independence among young Nigerians.
NAN further reports that initiative underscores the government’s commitment to equipping youths with essential skills to drive economic growth and self-sufficiency
Economy
FG To Finalize N1.5trn Road Concession Project- Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government will soon finalise N1.5 trillion road concession project.
Edun made the statement during a meeting with some private sector investors in Abuja on Wednesday.
He said that the government was on the verge of finalising the landmark N1.
5 trillion road concession project, launched in 2021 under the Highway Development and Management Initiative (HDMI).The minister said that the initiative aimed to involve private sector partners in the reconstruction and management of nine major highways across the country, spanning approximately 900 kilometers.
He said that the partners had almost completed all arrangements for the highways, which they would finance, rebuild, and maintain under 25-years concession agreements.
Edun said that the concessionaires were expected to recoup their investments through tolling fees.
“We met the concessionaires who have virtually concluded all the agreement arrangements for nine roads, nine major highways, which they are contracting to refinance the rebuilding of and to recover their funds from tolling fees under 25-year or so agreements.
“And we met them to iron out the remaining administrative obstacles for the kicking off construction of these roads,” he said.
Edun said that the substantial private sector investment would bridge budgetary gaps.
He added that it would also allow investors to undertake revenue-generating projects, leveraging their expertise and resources for long-term implementation and maintenance.
“Thereafter, it will be a question of signing the addendums and moving to the site.
“As you know, already the 125-kilometer Benin–Asaba Highway concession agreement has been signed. The addendum has been signed.
“All arrangements have been finalised, in fact, the ministry of works have handed over the road to the concessionaires.
“They have already started the preliminary arrangements for reconstruction of that road in place of a 10 lane highway.
“It is an investment, it’s a project and an initiative that will reduce the travel time between Benin and Asaba right up to the Niger Bridge,” the minister said.
Edun said that the Benin–Asaba Highway project, which has already commenced, is expected to reduce travel time between Benin and Asaba from four hours to one hour, significantly enhancing productivity and efficiency in the region.
He described the HDMI, launched in 2021, as a strategic programme by the federal government aimed at attracting private sector investment to improve Nigeria’s federal road network.
Edun said that the initiative seeks to address the challenges of inadequate funding and maintenance by leveraging Public-Private Partnerships (PPP) to develop and manage road infrastructure.
Under the HDMI, 12 highways were initially selected for concession, covering a total of 1,963 kilometers.
These roads include Benin–Asaba, Abuja–Lokoja, Kano–Katsina, Onitsha–Owerri–Aba, Shagamu–Benin, Abuja–Keffi–Akwanga, Kano–Shuari.
Others are Potiskum–Damaturu, Lokoja–Benin, Enugu–Port Harcourt, Ilorin–Jebba, Lagos–Ota–Abeokuta, and Lagos–Badagry–Seme roads.
The minister said that the initiative was projected to generate over 50,000 direct and 200,000 indirect jobs, contributing significantly to the country’s economic growth and development.
The Minister of Works, Engineer David Umahi who joined the meeting virtually reassured the private sector partners on the HDMI of the federal government commitment.
He said that everything possible would be done to resolve the contending issues, adding he will soon be back to address all pending issues.
One of the concessionaires, Mr Kola Karim, representing Shoreline, emphasised the need for right and enforceable documents stipulating the takeoff and handover dates, which would attract investors to invest their funds.
Other private sector partners also requested for the addendum to the original agreement to be signed that would enable toll sections of the completed highways while work was in progress on other sections.
They noted that each concessionaire has unique challenges that should be dealt with accordingly.
Also in the meeting were Minister of Budget and Economic Planning, Abubakar Bagudu, and the Director General Infrastructure Concession and Regulatory Commission (ICRC), Dr Jobson Ewalefoh