The 31st Nigerian Economic Summit (NES #31), organized by the Nigerian Economic Summit Group (NESG), is poised to address critical issues surrounding Nigeria’s economic trajectory and its impact on the African continent. The summit, themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” underscores the interconnectedness of Nigeria’s domestic policies with the broader African economic landscape. Given Nigeria’s substantial population and economic influence, the NESG emphasizes that the nation’s policy choices, whether progressive or stagnant, have far-reaching consequences for regional trade, investment dynamics, and integration initiatives. With global trade undergoing significant transformations and a renewed emphasis on regional collaboration, NES #31 aims to explore Nigeria’s potential to spearhead Africa’s economic resurgence through strategic deployment of trade, technology, entrepreneurship, and diplomacy. The summit will delve into key areas such as strengthening Nigeria’s position within global and regional value chains, improving the ease of doing business, mobilizing private capital, and expanding digital infrastructure and skills development for the 21st-century economy.
The NESG recognizes the importance of sustained reforms for long-term economic progress. The group highlights its historical role as a platform for significant reform milestones across various sectors, including telecommunications, banking, maritime, agriculture, and energy. However, maintaining this momentum requires more than just innovative ideas; it necessitates institutional continuity, unwavering political will, and active citizen engagement. NES #31 will explore strategies for entrenching reform-oriented governance, minimizing policy reversals, and ensuring that reforms are citizen-centric, inclusive, and results-driven. The summit will offer a diverse range of interactive sessions, including plenary sessions, technical dialogues, high-level roundtables, and tailored sector-specific engagements. These discussions are designed to catalyze multi-sectoral action, influence public policy, and reinforce Nigeria’s capacity to fulfill its development commitments.
The summit will focus on several key sub-themes, each addressing crucial aspects of Nigeria’s economic development. “Driving industrialisation-led growth” will explore strategies for deepening Nigeria’s industrial base through value chain development, integrating small and medium-sized enterprises (SMEs), and fostering technological innovation. “Building infrastructure for competitiveness” will examine ways to accelerate infrastructure investment to enhance productivity, reduce costs, and facilitate regional trade. “Advancing inclusion for shared growth” will focus on ensuring economic participation for women, youth, and marginalized populations through targeted social and economic interventions. “Strengthening institutions for sustainable impact” will delve into enhancing public sector accountability, regulatory efficiency, and service delivery to enable long-term development and attract investment.
Furthermore, the sub-theme “Unlocking investment amid global trade shifts” will focus on positioning Nigeria as a prime investment destination by leveraging the African Continental Free Trade Area (AfCFTA), diversifying exports, and bolstering investor confidence. The NESG emphasizes that these sub-themes are interconnected and essential for achieving a holistic and sustainable economic transformation. The summit aims to create a platform for robust dialogue, knowledge sharing, and collaborative action among stakeholders from various sectors, including government, private sector, civil society, and academia. This collaborative approach is crucial for generating innovative solutions, building consensus, and driving impactful reforms.
The NESG emphasizes the urgency of these reforms, given the evolving global economic landscape and the increasing competition for investment. Nigeria must proactively address its structural challenges, improve its business environment, and invest in human capital to realize its full economic potential and become a leading player in the African and global economy. The summit aims to provide a roadmap for achieving these goals and fostering a more prosperous and inclusive Nigeria by 2030. The NESG urges all stakeholders to actively participate in the summit and contribute to the development of effective strategies for achieving sustainable economic growth and development.
The outcomes of NES #31 are expected to significantly influence policy decisions and shape the future direction of Nigeria’s economic development. The summit will provide a platform for stakeholders to share their perspectives, identify challenges, and co-create solutions for building a more resilient and prosperous Nigeria. The NESG believes that through collaborative efforts and a commitment to sustained reforms, Nigeria can achieve its development aspirations and become a leading force in the African economic renaissance. The summit serves as a call to action for all stakeholders to work together towards a shared vision of a prosperous and inclusive Nigeria by 2030.
