NESG, commission harp on sustainable economic growth

Economy-spectacles-(1)The Nigerian Economic Summit Group (NESG), National Planning Commission (NPC) and stakeholders have concluded plans to unveil a proposal structured to focus on the key strategic elements that will enhance global competitiveness in the country’s socio-economic environment.

The proposals, which will form the crux of the 21st Nigerian Economic Summit, slated for October, with the theme: “Tough Choices: Achieving Competitiveness, Inclusive Growth and Sustainable,” are aimed at fostering open and continuous dialogues on Nigeria’s economic development.

The Secretary of NPC, Bassey Akpanyung, while speaking with journalists in Lagos, at the weekend, said that the summit, has become the largest and most prestigious yearly economic forum for policy makers and captains of industry from the public and private sectors of the Nigerian economy, as well as representatives of academia, civil society organisations and development partners.

“It provides a unique opportunity for the participants to interact and share thoughts on key issues and challenges facing the Nigerian economy, with a view to evolving a common strategy and policy framework for addressing them.

“This is consistent with the aspirations of the present administration’s change agenda and the medium term successor strategic plan, 2016-2020 which focused on fighting corruption, addressing unemployment, insecurity, institutional reforms, economic growth and development,” he said.
Akpanyung, who expressed concerns over the issue of unemployment, insecurity, corruption and challenge of inclusive growth, said these cannot be tackled effectively without addressing the competitiveness of the economy.

According to him, The World Economic Global Competitiveness Report 2014-2015, indicated that Nigeria fell by seven places to 127th (out of 144 countries), largely on the back of weakened public finances, as a result of lower oil exports and prices, weak institutions, corruption, dire security situation, weak infrastructure and high youth unemployment rate.

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