The 22nd Nigerian Economic Summit (#NES22) was developed on a ‘Made in Nigeria’ theme. It aimed at significantly increasing the level of productivity across all sectors, especially in a time when the country started experiencing significant economic diversification and restructuring.
This year, #NES23 seeks to initiate robust conversations that accentuate the economic framework for opportunities, productivity and employment. The #NES23 theme is: “Opportunities, Productivity & Employment: Actualizing the Economic Recovery and Growth Plan” and some of the Summit’s objectives will be to: outline national job deficits, define a reviewed national framework for new economic opportunities, set out a reviewed framework for entrepreneurship and innovation, provide policy linkages between mapped economic opportunities and competencies, explore strategic investment options and establish a reviewed national agenda.
Some identified sector opportunities which the Summit will focus on are found in:
- Infrastructure, Transport and Logistics: These are critical enablers for any kind of economic development and transformation. E.g. establishing the LAKAJI economic corridor promotes delivery of goods and services within 10 states.
- Manufacturing: This has the potential to contribute 30% to the nation’s GDP if aggressively developed.
- Renewable Energy: As a nation looking to be progressive by utilizing sustainable methods, the use of renewable energy serves as one of the most efficient delivery of power.
- Mass and Low Income Housing: There is a direct disparity between the number of house-seekers and available affordable housing which needs to be bridged.
- Agriculture and Agribusiness: This sector has consistently contributed to the nation’s GDP but is currently in need of financing and solid investment & infrastructure policies.
- Creative Industries: The entertainment industry (as acknowledged by the World Bank) has become a key piece in creating youth employment and cultivating culture.
- Wholesale and Retail Trade: After contributing 19.83% to GDP in Q3 2016, significant attention ought to be given to this thriving informal sector, to promote the ‘ease of doing business’ agenda.
- Digitalization: The ICT sector in Nigeria has experienced rapid growth over the past 15 years, acknowledging the steady rise of internet users in Nigeria. The idea is to promote this growth by providing helpful training for our youth in ICT.
The five sub-themes to be anchored on the Summit’s thematic pillars are: “Think Nigeria”; Skills, competencies & capacity; Access to Capital; Legislations & Economic Inclusion