The Nigerian Economic Summit Group (NESG) has said governments at all levels must intensify efforts to address challenges of kidnappings, theft and other social vices, especially given that a secure environment is a precondition for economic growth, job creation and poverty reduction.
Chairman of NESG, Mr Asue Ighodalo, made the call at the inauguration of the joint planning committee for the 27th Nigerian Economic Summit (NES#27). The theme for the 27th Nigerian economic summit is “Securing our future: The fierce urgency of Now.”
Mr Ighodalo stated that with the present state of the Nigerian economy, increasing unemployment, pervasive insecurity and dwindling investments in critical sectors, the time is ripe to question the path for securing a long-term future for Nigeria that guarantees every citizen’s right to economic, social, political, environmental and physical safety.
The chairman of the NESG maintained that with the current state of the Nigerian economy, it has become essential for the country to adopt a different approach with a profound sense of urgency; in finding workable measures and concerted actions towards achieving economic growth and national security.
“This 27th Nigerian Economic Summit will present a platform for stakeholders to highlight Nigeria’s core socio-economic vulnerabilities and the associated risks to come up with solutions that alleviate these vulnerabilities while exploring potential opportunities and priorities that will accelerate economic development”, Mr. Ighodalo stated.
He revealed that the NESG, representing the private sector, is currently collaborating with the federal ministry of finance, budget and national planning towards developing the Long-Term National Economic Development Plan, the Nigeria Agenda 2050.
He said it was imperative that the 27th NES deepens the trust and collaboration between the public and private sector in enhancing the growth of the Nigerian economy.
The minister of state, budget and national planning, Prince Clem Agba, in his statement said Nigeria’s inflation rate is showing a downward trajectory despite the challenges faced globally.
He stated that the summit provides a platform for effective partnership, strengthen relationships and that the conclusions and recommendations of the 26th Nigerian economic summit have been forwarded to the cabinet office and will soon be deliberated on by the Federal Executive Council (FEC).
Agba revealed that the government is on the verge of completing the Medium and Long-term National Economic Development Plan which will serve as a successor plan to the long-term National Vision 20:2020.
The minister said that the summit will galvanise stakeholders to commit to a sustainable economy and agree on a compact that compels stakeholders to ensure key recommendations are urgently implemented.