In 2016, the 22nd Nigerian Economic Summit provided a timely opportunity for a national economic review during the country’s worst recession in decades, while at the same time setting the “Made in Nigeria” agenda within the context of economic diversification and restructuring.
For the most part, the Summit created a consensus amongst all Nigerians on the need for the country to significantly increase the level of productivity across all sectors. To ensure we transition beyond this national consensus into a phase of concerted, collective and collaborative broad-based national action, it is imperative that the dialogue between private sector and policy makers goes to the next level in delivering solutions that create the factor conditions and requirements for an environment that ensures economic diversification.
In a world of increasing economic volatility, political uncertainty and global complexity, proactive steps are required towards building the “Nigerianisation” of our economy, in which our national competitive advantage is created and sustained through a highly localised process. It is no news that the Nigerian economy has seen its fair share of turbulence which has impacted the citizenry negatively, leading to growing unemployment from job cuts, closure of several businesses, reduced spending et al.
Despite these challenges, there is optimism that Nigeria has the potential to emerge stronger if the right decisions are taken and rigorously implemented. The economic fundamentals of Nigeria are still very attractive: a population size of about 180 million and growing, a large workforce, relatively young median age, vast mineral resources, diverse and rich culture and more.
To leverage these economic fundamentals, Nigeria’s economic programmes need to be balanced between the current and future needs of her citizens. The urgent need to resolve the business environment and investment climate challenges must be aligned to policy incentives that encourage the appropriate forms of investment in local products and services, sustained upgrading of business capacities to take advantage of the opportunities.
The theme of the Summit, “Opportunities, Productivity & Employment Actualizing the Economic Recovery and Growth Plan” will elicit and adopt a solutions-based approach in addressing the issues that will create opportunities, tackle unemployment and improve productivity.
The key thrust of NES #23 will seek to create robust stakeholders’ discussions and deliberations that accentuate the economic framework for opportunities, productivity and employment.
Summit Agenda includes
Agriculture & Food Security: Building the Competitiveness of Nigerian Agribusiness
Financial Inclusion & Financial Markets: Enabling Accessibility to Capital through Financial Inclusion and Alternative Funding
Human Capital Development: Job Creation and Economic Growth Through Human Capital Development
Infrastructure: Unlocking Opportunities Through Infrastructure and Urban Development
Science & Technology: Science & Technology as Key Drivers in Actualizing the Economic Recovery and Growth Plan
Proceedings will be broken into 4 Formats
Insight Session which will give the Keynote Speaker an opportunity to share his perspectives on the Summit Theme drawing from his/her experience, knowledge and expertise.
Plenary Sessions to address the core issues generated by the Summit Theme. These discussions will stimulate robust discussions between the panellists and elicit comments and questions from participants.
Breakout Sessions which adopt a Workshop approach to discussing the issues around the Summit Theme as it relates to specific sectors. These will be intense, interactive, stimulating and will be driven by the Policy Commissions with clear Action Plans.
Start-ups Pitching Events which would connect new ventures seeking to raise funds with potential investors. Four selected early-stage start-ups that are registered in Nigeria and have been doing business for no more than 3 years will be invited to pitch in front of venture capitalists and investors.
NES23 starts tomorrow Tuesday, October 10 – 12, 2017 at the Transcorp Hilton Hotel, Abuja.
Follow proceedings online via livestream at www.nesgroup.org