Introduction To The Nigeria Economic Submit Group

 

The Nigeria Economic Summit Group (NESG) is a leading private sector think-tank and advocacy organization in Nigeria. It was established in 1993 as a platform for dialogue and collaboration between the private sector, government, and other stakeholders to promote sustainable economic development in Nigeria.

The NESG aims to facilitate and support the growth and diversification of the Nigerian economy by providing a platform for stakeholders to discuss, analyze, and proffer solutions to key economic and social challenges facing the country. The group plays a vital role in shaping economic policies, providing recommendations, and influencing decision-making processes at both the federal and state levels.

One of the key initiatives of the NESG is the annual Nigeria Economic Summit, which brings together government officials, business leaders, policymakers, civil society organizations, and international partners to discuss and deliberate on critical issues affecting the Nigerian economy. The summit serves as a platform for generating ideas, sharing insights, and fostering collaborations to drive sustainable economic growth and development.

The NESG also conducts research, policy analysis, and advocacy to promote economic reforms and create an enabling environment for businesses to thrive. It collaborates with government agencies, development partners, and other stakeholders to implement policy recommendations and drive inclusive economic growth.

Furthermore, the NESG engages in capacity building programs, including training and mentorship initiatives, to develop a skilled workforce and enhance entrepreneurship in Nigeria. It also focuses on promoting good governance, transparency, and accountability in both the public and private sectors.

Overall, the Nigeria Economic Summit Group plays a crucial role in shaping economic policies, driving reforms, and fostering public-private partnerships to promote sustainable economic development and improve the standard of living for Nigerians.

 

Founding And Objectives Of The Nigeria Economic Submmit Group

The Nigeria Economic Summit Group (NESG) is a private sector-led think-tank and advocacy group in Nigeria. It was founded in 1993 with the primary objective of promoting sustainable economic development in the country.

The NESG was established as a platform for dialogue and collaboration between the Nigerian government, the private sector, and civil society to address economic and social challenges and drive policy reforms. The group aims to contribute to the formulation of sound economic policies and strategies that foster inclusive growth, job creation, and poverty reduction.

The key objectives of the NESG include:

1. Policy Advocacy: The NESG serves as a voice for the private sector, advocating for policies and reforms that enhance the business environment, attract investments, and promote economic diversification. It engages with policymakers and stakeholders to influence policy decisions and promote economic development.

2. Policy Research and Analysis: The NESG conducts research and analysis on various economic issues, providing evidence-based recommendations to policymakers. It focuses on areas such as macroeconomic stability, trade and investment, infrastructure development, human capital development, agriculture, and entrepreneurship.

3. Public-Private Dialogue: The NESG facilitates dialogue and collaboration between the public and private sectors to address economic challenges. It organizes the annual Nigeria Economic Summit, which brings together stakeholders from government, business, academia, and civil society to discuss and develop actionable solutions to key economic issues.

4. Capacity Building and Knowledge Sharing: The NESG promotes capacity building and knowledge sharing among policymakers, business leaders, and other stakeholders. It organizes seminars, workshops, and training programs to enhance skills and knowledge in areas relevant to economic development.

5. Monitoring and Evaluation: The NESG monitors and evaluates the implementation of economic policies and reforms, providing feedback and recommendations to improve effectiveness and impact.

By pursuing these objectives, the Nigeria Economic Summit Group aims to foster a conducive economic environment that promotes sustainable development, attracts investments, and improves the well-being of Nigerians.

 

Structure And Organization Of The Nigeria Economic Submmit Group

As of my knowledge cutoff in September 2021, there is an organization in Nigeria called the Nigeria Economic Summit Group (NESG). The NESG is a private sector-led think-tank and advocacy group focused on promoting sustainable economic development in Nigeria. It serves as a platform for public-private dialogue and cooperation to address economic and social challenges in the country.

The NESG is structured and organized in the following manner:

1. Board of Directors: The NESG is governed by a board of directors composed of prominent individuals from the private sector, academia, and civil society. The board provides strategic direction and oversight to the group’s activities.

2. Executive Committee: The executive committee is responsible for the day-to-day management and operations of the NESG. It is headed by an executive secretary/CEO who oversees the implementation of the group’s programs and initiatives.

3. Divisions: The NESG has several divisions or units that focus on specific areas of economic development. These divisions may include agriculture, energy, finance, infrastructure, education, and healthcare, among others. Each division is responsible for conducting research, policy analysis, and advocacy in its respective area.

4. Working Groups: The NESG establishes working groups composed of experts and stakeholders from various sectors to address specific economic issues. These working groups conduct research, develop policy recommendations, and organize events and conferences related to their respective areas of focus.

5. Annual Summit: The NESG organizes an annual economic summit, which serves as a platform for policymakers, business leaders, and other stakeholders to discuss and deliberate on key economic challenges and opportunities in Nigeria. The summit features plenary sessions, panel discussions, and breakout sessions focused on specific sectors or themes.

6. Policy Advocacy: The NESG engages in policy advocacy by providing evidence-based policy recommendations to the government and other relevant stakeholders. It seeks to influence policy decisions and promote reforms that can drive sustainable economic growth and development.

7. Partnerships and Collaborations: The NESG collaborates with various national and international organizations, including government agencies, development partners, academic institutions, and civil society organizations. These collaborations help to leverage resources, expertise, and networks to advance the group’s objectives.

It’s worth noting that organizational structures and arrangements can evolve over time, so I recommend visiting the official website of the Nigeria Economic Summit Group or contacting them directly for the most up-to-date information on their structure and organization.

 

Key Initiatives And Programs Of The Nigeria Economic Submmit Group

As of my knowledge cutoff in September 2021, the Nigeria Economic Summit Group (NESG) is a private sector-led think tank and advocacy group that promotes sustainable economic development in Nigeria. While I may not have the most up-to-date information on their recent initiatives and programs, I can provide you with an overview of some key initiatives and programs that the NESG has been involved in. It’s important to confirm with the NESG for the latest information. Here are some of their notable initiatives and programs:

1. Nigeria Economic Summit: The NESG organizes an annual Nigeria Economic Summit, which serves as a platform for stakeholders from the public and private sectors to discuss and proffer solutions to various economic challenges facing the country. The summit brings together policymakers, business leaders, development partners, and civil society organizations to engage in dialogue and develop actionable strategies for economic development.

2. Policy Advocacy: The NESG actively engages with policymakers and government agencies to advocate for policies that promote economic growth, job creation, and poverty reduction. They provide evidence-based research, policy recommendations, and engage in constructive dialogue with government officials to influence policy decisions.

3. Research and Policy Development: The NESG conducts research and analysis on various economic and social issues affecting Nigeria. They produce reports and policy briefs that provide insights and recommendations for policymakers, businesses, and stakeholders. Some key areas of research include agriculture, infrastructure, education, healthcare, and governance.

4. Youth Empowerment and Entrepreneurship: The NESG recognizes the importance of youth empowerment and entrepreneurship in driving economic growth. They have programs and initiatives aimed at promoting youth employment, skills development, and entrepreneurship. For example, they organize youth entrepreneurship competitions, mentorship programs, and capacity-building workshops to support young entrepreneurs.

5. Public-Private Dialogue: The NESG facilitates public-private dialogues to foster collaboration between the government and the private sector. These dialogues provide a platform for stakeholders to discuss policy issues, identify bottlenecks, and explore opportunities for partnership in areas such as infrastructure development, investment promotion, and ease of doing business.

6. Sector-Specific Initiatives: The NESG focuses on various sectors of the economy and spearheads initiatives to address specific challenges and opportunities. For instance, they have initiatives in agriculture, power and energy, manufacturing, finance, and technology. These initiatives aim to promote sectoral growth, attract investment, and enhance competitiveness.

It’s worth noting that the NESG may have launched new initiatives or modified existing ones since my knowledge cutoff. To get the most accurate and up-to-date information on their current initiatives and programs, I recommend visiting the official website of the Nigeria Economic Summit Group or contacting them directly.

 

 

Achievements And Impact Of The Nigeria Economic Submmit Group

 

The Nigeria Economic Summit Group (NESG) is a non-profit, non-partisan organization that was established in 1993 by the Nigerian government and private sector stakeholders. The NESG aims to promote sustainable economic development in Nigeria through public-private dialogue, policy advocacy, and research. Here are some of the achievements and impacts of the NESG:

1. Policy Advocacy: The NESG has been instrumental in advocating for policy reforms that promote economic growth and development in Nigeria. Through its engagement with policymakers, the group has influenced the formulation of key economic policies, including fiscal reforms, trade policies, and investment promotion strategies.

2. Economic Reforms: The NESG has played a crucial role in driving economic reforms in Nigeria. It has been actively involved in advocating for reforms in various sectors, including agriculture, power, education, and infrastructure. The group’s efforts have contributed to the implementation of policies aimed at diversifying the Nigerian economy and attracting private sector investment.

3. Public-Private Dialogue: The NESG provides a platform for dialogue and collaboration between the public and private sectors in Nigeria. The group organizes the annual Nigeria Economic Summit, which brings together policymakers, business leaders, academics, and civil society organizations to discuss key economic issues and develop actionable solutions. This dialogue has helped foster collaboration, build partnerships, and promote consensus on critical economic issues.

4. Research and Policy Analysis: The NESG conducts research and analysis on various economic issues in Nigeria. It produces reports, policy briefs, and research papers that provide valuable insights and recommendations for policymakers and stakeholders. The group’s research outputs have helped shape economic policies and informed decision-making processes in Nigeria.

5. Youth Empowerment: The NESG has placed a strong emphasis on youth empowerment and entrepreneurship development. It has implemented several initiatives aimed at promoting youth participation in economic activities, including the NESG Bridge Fellowship Program and the Youth Entrepreneurship Development Program. These initiatives have provided young Nigerians with opportunities for skills development, mentorship, and access to funding, thereby contributing to job creation and economic empowerment.

6. International Engagement: The NESG has actively engaged with international organizations, development partners, and foreign investors to promote Nigeria’s economic interests. It has participated in international conferences, forums, and trade missions, showcasing investment opportunities in Nigeria and advocating for foreign direct investment.

Overall, the NESG has made significant contributions to Nigeria’s economic development by fostering public-private collaboration, advocating for policy reforms, promoting youth empowerment, and conducting research and analysis. Its efforts have helped shape economic policies, attract investments, and drive sustainable growth in Nigeria.

 

Collaboration And Partnerships Of The Nigeria Economic Submmit Group

The Nigeria Economic Summit Group (NESG) is a private-sector-led think tank and advocacy group in Nigeria that aims to promote economic growth and development in the country. NESG organizes the annual Nigeria Economic Summit, which brings together key stakeholders from the public and private sectors to discuss and proffer solutions to economic challenges in the country.

NESG collaborates and forms partnerships with various organizations, both national and international, to achieve its objectives. Some of the key collaborations and partnerships of NESG include:

1. Government Agencies: NESG works closely with various government agencies at the federal, state, and local levels. This collaboration helps to foster dialogue and cooperation between the government and the private sector in addressing economic challenges. NESG engages with agencies such as the Federal Ministry of Finance, Central Bank of Nigeria, National Planning Commission, and relevant ministries, departments, and agencies (MDAs) to provide policy recommendations and inputs.

2. Private Sector Organizations: NESG collaborates with a wide range of private sector organizations, including multinational corporations, local businesses, industry associations, and chambers of commerce. These partnerships help to promote private sector development, investment, and economic diversification. NESG works with organizations such as the Nigerian Stock Exchange, Manufacturers Association of Nigeria, Nigerian Economic Summit Group, and various business chambers.

3. International Development Partners: NESG partners with international development organizations and institutions to access technical expertise, funding, and global best practices. Collaborations with organizations such as the World Bank, International Monetary Fund (IMF), African Development Bank (AfDB), United Nations Development Programme (UNDP), and other bilateral and multilateral agencies help NESG in policy advocacy, research, capacity building, and project implementation.

4. Civil Society Organizations: NESG collaborates with civil society organizations (CSOs) and non-governmental organizations (NGOs) to promote inclusive growth, social development, and good governance. These partnerships help to ensure that economic policies and programs take into account the needs and aspirations of marginalized groups and promote sustainable development. NESG works with organizations such as Transparency International, Nigerian Economic Summit Group, and various CSOs focused on education, health, and poverty alleviation.

5. Academic and Research Institutions: NESG collaborates with universities, research institutions, and think tanks to access research, data, and intellectual resources. These partnerships help NESG in evidence-based policy advocacy, economic research, and knowledge sharing. NESG works with institutions such as the Nigerian Institute of Social and Economic Research (NISER), universities, and international research organizations to enhance its research capabilities.

Overall, NESG’s collaborations and partnerships with various stakeholders enable it to influence policy formulation, drive economic reforms, and promote private sector-led development in Nigeria. These collaborations foster dialogue, knowledge exchange, and collective action towards achieving sustainable and inclusive economic growth in the country.

Current Focus Areas And Priorities Of The Nigeria Economic Submmit

As of my last knowledge update in September 2021, the Nigeria Economic Summit Group (NESG) is a private sector-led organization that promotes sustainable economic growth and development in Nigeria. While I don’t have access to real-time information, I can provide you with some general focus areas and priorities of the NESG based on its previous activities and objectives. It’s important to note that these priorities may have evolved or changed since then.

1. Economic Policy Advocacy: The NESG focuses on advocating for policies that promote economic growth, development, and diversification in Nigeria. It engages with the government and relevant stakeholders to influence policy formulation and implementation.

2. Infrastructure Development: NESG recognizes the importance of robust infrastructure for economic growth. It advocates for investment in critical infrastructure sectors such as power, transportation, telecommunications, and housing to enhance productivity and attract investments.

3. Job Creation and Youth Empowerment: NESG emphasizes the need for job creation to address Nigeria’s high unemployment rate, particularly among the youth. It promotes initiatives and policies that encourage entrepreneurship, skill development, and employment opportunities.

4. Agriculture and Agribusiness: Given Nigeria’s agricultural potential, NESG emphasizes the development of the agriculture sector as a means of diversifying the economy, reducing import dependency, and enhancing food security. It supports policies and initiatives that boost agricultural productivity, value addition, and agribusiness investments.

5. Private Sector Development: NESG recognizes the critical role of the private sector in driving economic growth. It promotes an enabling business environment, encourages private sector-led investments, and advocates for policies that enhance ease of doing business, reduce regulatory bottlenecks, and encourage innovation.

6. Education and Human Capital Development: NESG highlights the importance of quality education and human capital development in building a competitive workforce. It promotes policies and initiatives that improve the quality of education, skills training, and capacity building to meet the demands of a rapidly evolving economy.

These are some overarching focus areas and priorities that NESG has traditionally emphasized. However, it’s essential to consult the NESG’s latest publications, reports, or website for the most up-to-date information on their current focus areas and priorities.

 

 

Events And Conferences Organized By The Nigeria Economic Submmit Group

As of my knowledge cutoff in September 2021, the Nigeria Economic Summit Group (NESG) has been known for organizing the annual Nigeria Economic Summit (NES) since its inception in 1993. The NES is a high-level gathering of policymakers, captains of industries, academics, and other stakeholders aimed at discussing and proffering solutions to economic challenges facing Nigeria. However, please note that there might have been additional events and conferences organized by the NESG after my knowledge cutoff.

Some of the past editions of the Nigeria Economic Summit include:

1. Nigeria Economic Summit 2020: The 26th edition of the Nigeria Economic Summit was held virtually due to the COVID-19 pandemic. The theme was “Building Partnerships for Resilience,” and it focused on exploring innovative approaches for addressing the economic impact of the pandemic and building a resilient Nigerian economy.

2. Nigeria Economic Summit 2019: The 25th edition of the Nigeria Economic Summit took place in Abuja with the theme “Nigeria 2050: Shifting Gears.” The summit aimed to explore strategies and policies for achieving Nigeria’s long-term economic development goals.

3. Nigeria Economic Summit 2018: The 24th edition of the Nigeria Economic Summit was held in Abuja under the theme “Poverty to Prosperity: Making Governance and Institutions Work.” The summit focused on enhancing governance and institutional frameworks to reduce poverty and promote economic prosperity in Nigeria.

4. Nigeria Economic Summit 2017: The 23rd edition of the Nigeria Economic Summit took place in Abuja with the theme “Opportunities, Productivity, and Employment: Actualizing the Economic Recovery and Growth Plan.” The summit aimed to explore strategies for implementing Nigeria’s Economic Recovery and Growth Plan (ERGP) to drive sustainable economic growth and job creation.

Please note that these are just a few examples, and the NESG has organized numerous other events and conferences over the years to promote economic development and policy discussions in Nigeria. For the most up-to-date information on their events, I suggest visiting the official website of the NESG or contacting them directly.

 

 

Role Of The Nigeria Economic Submmit Group In Economic Development

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Policy Advocacy And Engagement By The Nigeria Economic Submmit Group

The Nigeria Economic Summit Group (NESG) is a non-profit, non-partisan private sector organization that promotes sustainable economic development in Nigeria. As part of its activities, the NESG engages in policy advocacy and engagement with various stakeholders to drive positive change and shape economic policies in Nigeria. Here are some key aspects of NESG’s policy advocacy and engagement:

1. Economic Policy Development: NESG actively participates in the formulation and development of economic policies in Nigeria. It conducts research, organizes workshops, and engages with policymakers to develop evidence-based policy recommendations. NESG focuses on areas such as macroeconomic stability, fiscal policy, monetary policy, trade, investment, and sectors critical to Nigeria’s economic growth.

2. Dialogue and Collaboration: NESG organizes the annual Nigeria Economic Summit, which serves as a platform for dialogue and collaboration between the public and private sectors, civil society organizations, academia, and international development partners. The summit provides an opportunity for stakeholders to discuss challenges, share ideas, and develop consensus on key economic issues.

3. Policy Advocacy: NESG engages in advocacy efforts to promote policy reforms and create an enabling business environment in Nigeria. It communicates its policy recommendations to relevant government agencies, policymakers, legislators, and other stakeholders through policy briefs, position papers, and advocacy campaigns. NESG also engages with international organizations, such as the World Bank and the International Monetary Fund, to advocate for policies that support Nigeria’s economic development.

4. Stakeholder Engagement: NESG collaborates with a wide range of stakeholders, including business leaders, industry associations, civil society organizations, and development partners. It engages in consultations, roundtable discussions, and working groups to gather diverse perspectives, foster collaboration, and build consensus on economic policy issues.

5. Research and Analysis: NESG conducts research and analysis on various economic issues, including sector-specific studies and policy impact assessments. It produces reports and publications that provide insights and recommendations for policymakers and stakeholders. NESG’s research work contributes to evidence-based policy formulation and helps identify priority areas for economic development.

6. Capacity Building: NESG provides capacity-building programs and training initiatives to enhance the skills and knowledge of policymakers, government officials, and other stakeholders. These programs aim to strengthen the understanding of economic principles, policy formulation processes, and implementation strategies.

Through its policy advocacy and engagement activities, the NESG plays a crucial role in influencing economic policies and driving sustainable development in Nigeria. By collaborating with diverse stakeholders and leveraging research and analysis, NESG strives to create an enabling environment that fosters inclusive economic growth, job creation, and poverty reduction.