The Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, has inaugurated a Joint Planning Committee (JPC) for the 28th Nigerian Economic Summit (NES#28). The inauguration was held on Thursday, July 7, 2022, in Abuja.
Agba stated that the JPC was a technical arm of the summit planning process, designed to facilitate successful annual hosting of the summit as members were drawn from public and private sector.
He disclosed that the committee had earlier produced the Green Book for NES#27 summit, which copies had been disseminated to Federal Ministries, Departments and Agencies (MDAs) as well as other critical stakeholders to enable the implementation of the summit recommendations.
Agba explained that “the annual summit provides a platform for effective partnership and cooperation between the public and Private sector in charting a positive course for a stable and sustainable economic development as key outcomes of the annual summit has always played important roles in shaping the policies of Government.”
According to him, ‘’the JPC for NES#28 is expected, among others: to review the event/outcomes of the 27th Economic Summit, make all preparatory arrangements for the successful hosting of the 28th Nigerian Economic Summit (NES#28), articulate the budgetary requirements and the sources of funds for the hosting the summit.
“It is also to propose the optimal strategy for funding the activities of JPC and the summit, mobilise relevant public and private sector stakeholders for the summit, prepare the Green Book for the NES#28 within 3 months of the completion of the summit and undertake any other work that may lead to successful hosting of the summit.’’
Earlier, the Permanent Secretary, Budget and National Planning, Mrs Olushola O. Idowu, in her welcome remarks, stated that over the years, early inauguration of the committee had provided enough time for the committee given the amount of work that would be done in ensuring a successful summit.
Idowu, who was represented by the Director, Department of international cooperation, Dr Lanre Adekanye, stated that the success of the summit hinged essentially on effective dialogue and discussion between the private and public sector as the platform had in no small measures, assisted in shaping government policies.
Also speaking, the Chairman of the Nigeria Economic Summit Group(NESG), Mr Asue Ighodalo, said that the summit had continued to sustain public-private dialogue to chart a pathway for economic process, adding that the annual dialogue was anchored on a set of agreed principles reached in 1993, based on scenarios that projected, at the time, where Nigeria was going to be in 2020.
He said that Government had a crucial role in jump-starting and deliberately addressing with utmost urgency, six critical challenges which caused economic dysfunction.
According to him: “These included non-inclusive economic growth, macroeconomic instability, infrastructure deficit, human capital deficit and skills gap, national insecurity and weak economic competitiveness, etc.”
Mr Ighodalo stated that while the National Development (NDP) 2021-2025, launched by Mr President in November 2021 was well detailed and broad in identifying critical elements, drivers and enablers of national development, the issue of effective implementation, remained a crucial concern for relevant stakeholders.
‘’Our shared common agenda is to reform the Nigerian Economy into a flourishing and globally-competitive economy. We may not always agree on process and timing but we are steadfast and cohensive on the attainment of our common goal.”