FG reiterates support for NESG to grow economy


The Minister of Budget and National Planning, Senator Udoma Udo Udoma has reiterated government’s readiness to continue to work with the Nigerian Economic Summit Group (NESG) in its sustained efforts to achieve economic growth. Udoma was quoted by the Ministry’s Director of Information, Charles Dafe, disclosing this Tuesday in Abuja when the economic think-tank delegation led by Chairman Bukar Abba Kyari, presented the report of the 21st Nigerian Economic Summit held in October last year to him. Udoma commended the group for volunteering their time and efforts consistently over the years for the purposes of achieving economic development in the country.

He also appreciated them for not giving up even when some of the Summit recommendations were not given rapid attention, while pointing out that the impact of the yearly Summit on governance has been most impressive. According to him, some of the policy recommendations that were initially resisted, has now been taken and owned by Government, noting in particular that one of the most important thing taken from last year’s Summit is to diversify the nation’s economy away from oil. While noting that the country cannot grow its economy unless the private sector is encouraged and stimulated, Udoma said that this accounted for why some of their recommendations were already part of government’s policies just as others are being considered for implementation Earlier, the leader of the delegation and Chairman of the board of Directors of NESG while presenting the summary of the 21st summit, said that the theme “Tough Choices: Achieving Competitiveness, Inclusive Growth and Sustainability” was consistent with the NESG’s commitment to continually focus on contemporary issues of public policy, which constrain improvement and the welfare and well-being of our people.

He recalled that the main objective of NES 21 was to examine and facilitate stakeholders’ consensus on the tough choices that needed to be made in order to address the economic situation that the country had found on the heels of commodity price shocks, chart a practical roadmap to achieving competitiveness and inclusive growth in a sustainable way, through measurable outcomes. On the recommendations from the Summit, Bukar listed institutions, infrastructure, legislations, tackling corruption, security, energy, education and skills, health, job creation and MSMEs as the key recommendations that held the thrust for tough choices. The NESG chief expressed the hope that if the Summit’s recommendations were appropriately implemented, all growth poles in the Nigerian economy will unleash their potential for employment generation and economic productivity.