As economies around the world begin to implement recovery strategies from the shockwave of Coronavirus, the Lagos Economic Summit Group (LESG) is charting the path for the sustainable socio-economic development of Lagos State at the Lagos Economic Summit tagged ‘Ehingbeti 2020’ scheduled to hold from November 10 – 12, 2020.
Themed ‘For a Greater Lagos: Setting The Tone For The Next Decade’, Ehingbeti 2020 will provide a robust platform for deliberations on pragmatic optimisation of the inherent opportunities in Africa’s 5th largest economy and offer perspectives on how to manage the peculiar socio-economic landscape of the State in the coming decade. The three-day summit, which will be a hybrid of virtual and live events, will draw participation from various sectors of the economy and across the globe.
With the absence of the economic summit in the past four years, there seemed to be a decline in the rate of public-private collaboration in this State. This year’s summit is aimed at reconnecting with the private sector, which is the bedrock of the Lagos Economic Summit. The quest to strengthen the existing relationship between government and the private sector is one of the major goals of this summit since greater private sector participation in governance is a prerequisite for a functional State.
The Group has also refreshed the Ehingbeti logo to reflect the contemporary outlook of the annual summit without disconnecting from the economic heritage of the Marina and Broad Streets areas of Lagos, which served as the springboard for Nigerian and West African economic development since the European incursion in the 15th century.
Unveiling the new logo, Mr. Olayemi Cardoso, Co-Chair of the ‘Ehingbeti 2020’ Steering Committee and former Lagos State Commissioner for Economic Planning & Budget said “this new Ehingbeti logo is an embodiment of meanings and expression of the LESG ideals. The convergence of colours in the logo connotes the essence of Ehingbeti as a participatory forum for integrating local and international stakeholders to exchange ideas and chart a path for the socio-economic development of Lagos State”
“The bright star above the image of the iconic ‘Agba Meta’ is a depiction of the result of working together to deliver the stellar accomplishments that define the city-state of Lagos and the pervasive atmosphere of economic stability in the State. I am happy to let you know that the image of the ‘Agba Meta’ is a representation of the sculpted white cap chiefs built to welcome people into Lagos. The logo is to emphasise our pride in culture, as we welcome participants to Ehingbeti 2020 and beyond”, Mr. Cardoso stated.
Acknowledged as the first institutionalised economic forum by any State in Nigeria, Ehingbeti is a public-private sector roundtable that started as a collaborative effort between the Lagos State Government and Business Club Ikeja. Since the inaugural summit in 2000, the summit has gained useful insights from innumerable business and political leaders, private sector players, renowned economists, notable development experts and outstanding scholars, who have participated from various parts of the world.
Ehingbeti is an ingenuous socio-economic apparatus that has contributed significantly to the evolution of Lagos State into a major economy in sub-Saharan Africa and an admirable megacity, with expanding potentialities. The summit, hosted by successive administrations in Lagos State since the beginning of the 4th Republic, has consistently redefined the dynamics of public-private sector collaboration for development across social and economic indices in Lagos State.
“In the last two decades, Ehingbeti has played a pivotal role in the transformation of Lagos State, with useful inputs into Lagos State Development Plans (LSDP)”, said Sam Egube, the Commissioner for Economic Planning and Budget, who is also a Co-chair of the Steering Committee.
“Our realities from 2000 when the first Ehingbeti, held exactly 20 years ago, have significantly changed. As a State, we now have to cater for the infrastructural needs of more than 22million population and ensure that Lagos remains on the path of continuous growth.”
“These considerations are the groundwork of the Babajide Sanwo-Olu administration’s T.H.E.M.E.S Agenda, but translating the agenda to benefits for our people will require collaboration amongst stakeholders, and a determination to deepen the foundation for sustainable development and growth of our society. So, Ehingbeti 2020 offers us a platform to address all these”, Egube asserted.