TVC E. The Nigerian Economic Summit Group (NESG) has highlighted the need to embrace self- sufficiency as a viable alternative to improve Nigeria’s dwindling economy.
The group made the call during a press conference organised in Lagos to announce the 22nd Nigerian Economic Summit. The summit appropriately themed ‘Made in Nigeria’, is scheduled to hold from the 10 to 12 October at the Transcorp Hilton Hotel, Abuja.
The conference had in attendance Udoma Udo Udoma; the Minister of Budget and National Planning, CEO, NESG, Mr Laoye Jaiyeola; Mrs Wonu Adetayo representative of the NESG Chairman, and a large list of top government officials outside and within the hinterland of the country.
Speaking at the press conference, the Minister of Budget and National Planning, Udoma Udo Udoma said “The FG’s goal is to unlock the economic potentials of the non-oil and high-employment sectors, so as to achieve a sustainable inclusive growth that will ensure that the majority of Nigerians become more productive, thereby reducing poverty.
Thus, we are deliberately working towards diversifying the Nigerian economy by ensuring that the non-oil sector drives the economy because this is the sector that: contributes the most to GDP”.
While giving his speech, Laoye described the Made in Nigeriainitiative as an economic growth and development strategy for Nigeria’s short, medium and long term development.
Jaiyeola explained that Nigeria’s status as an import dependent and a huge consumption economy has led to negative economic growth, dwindling foreign reserves.
The 2016 Nigerian Economic Summit, NES #22 will provide a platform to sharpen the focus on the need for Nigeria to embrace the Made in Nigeria initiative.
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