Following the formal presentation of the report of the 26th Nigerian Economic Summit Group (NESG), which was held during November 23 – 24, 2020, there is the decision that the recommendations will be transmitted to President Muhammadu Buhari and the Federal Executive Council (FEC).
And with the approval of Mr. President, the government looks to put in place deliberate policies, working with responsible Ministries, Departments and Agencies (MDAs) to ensure implementation of the recommendations.
In her recent remarks at the report presentation, Mrs. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, said; “I have noted the detailed recommendations with responsible institutions. We will transmit the recommendations to Mr. President and indeed the Federal Executive Council.”
“With the approval of Mr. President, government will put in place deliberate policies, working with responsible Ministries, Departments and Agencies (MDAs) to ensure implementation of the recommendations.
While commending the Joint Planning Committee for the success of the Summit, she said that it was important to point out the urgent need to further strengthen the collaboration between the NESG and the Ministry.
“I am aware that this partnership has endured over the years and has become mutually beneficial to the parties. For instance, beyond the joint hosting of the Annual Summit, the NESG is currently assisting the Ministry in its efforts at producing the Successor Plans to both the Nigeria Vision (NV)20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017-2020,” she also said.
According to her, this, therefore, underscores the need for stronger and well defined partnership between the NESG and the federal government, represented by the Federal Ministry of Finance, Budget and National Planning.
In this regard, “the Ministry will work with the NESG to put in place, a Memorandum of Understanding (MoU) to anchor and formalise this partnership as well as define the roles of both parties.
She commended the NESG for developing the economic outlook, which will no doubt provide a guide to government in its efforts to better the lots of Nigerians.
Mrs. Ahmed noted that the 2020 Summit was challenged not only by the COVID-19 pandemic but by #ENDSARS protest which necessitated the postponement of the summit.
“These unfortunate global and national incidents, I believe, was responsible for the adoption of a hybrid approach, involving in-person and virtual participants to enable compliance with the non-clinical COVID-19 pandemic protocols. Despite all these, however, we were able to weather the storm and hosted a world class summit,” she said.
The summit, which anchored its sessions on the theme, ‘Building Partnerships for Resilience’ emphasised the urgency to strengthen the multi-stakeholder alliance between government and the private sector in co-creating national strategies that will usher Nigeria into the next decade of action.
It was about developing strategic partnerships between the federal government, sub-national governments and the private sector, civil society and the youth to accelerate economic growth and development.
The summit provided opportunity for a significant turning point for the federal government, sub-national governments, the youth and private sector to collectively pursue innovative and collaborative policies. It also reviewed the challenges of unemployment, inequality, poverty and gaping infrastructure deficit and made recommendations.
In her words:”The recommendations, among others, bothered on restructuring our education system and rebuilding the health infrastructure; harmonisation of national data with unique identifier.
The recommendations also considered putting in place deliberate policy on youth empowerment; ensure unity in diversity; and effective collaboration among the federal government, sub-national governments and the private sector.
She informed that the 27th Nigerian Economic Summit will hold during October 25 – 26, 2021, and that the Joint Planning Committee is expected to immediately commence preparation for the 27th Summit.