Panelists at this year’s Nigeria Economic Summit (NES 27) have urged the country’s authorities to concentrate on important sectors of the economy, stating that the private sector should be allowed the opportunity to operate and influence government policy.
The two-day summit, which took place in the Nigerian capital of Abuja, brought together national and international leaders from government, business, politics, civil society, and academia to review the state of the country’s economy and identify critical imperatives.
Ndidi Nwuneli, co-founder and managing partner of Sahel Consulting Agriculture and Nutrition, believes that the government should harness technology and create an atmosphere conducive to the growth of the private sector in the country. According to her, the private sector should be given the opportunity to have an impact on government policy decisions.
In a statement, the Minister of Aviation, Hadi Siriki, stated that the importance of the private sector could not be overstated, adding that the sector has performed admirably over the years but that it must collaborate with the public sector to build a better Nigeria.
The function of the private sector and the public sector in creating wealth, providing prosperity, and causing progress, as well as assisting the country in reaching greater heights, is something that he believes must be understood sooner rather than later.
The business sector, he said, has performed admirably, and he urged it to work more actively with the state sector to build a better Nigeria.
Speaking on agriculture, Zainab Ahmed, Minister of Finance, emphasized that the country has made enormous efforts in the sector, but she also stated that more needs to be done. According to her, if the sector is strengthened, it can provide more jobs for unemployed Nigerian youths.
“The European Economic Corporation and development countries, the ECG countries, spend approximately $12,000 on average per kid for the primary education system, while South Africa spends approximately $2000, Brazil spends approximately $2400, and Mexico spends approximately $2400. So it was extrapolated from there that you need a certain critical minimum to spend in order to maintain a good educational system,” said Abubarka Atiku Bagudu, the governor of Kebbi state.
For the objective of defining a path toward a more stable and productive economy, the Economic summit served as a veritable platform for successful partnership and cooperation between the public and private sectors, according to the participants.
With the theme “Securing Our Future: The Fierce Urgency of Now,” this year’s conference aimed to provide an assessment of the Nigerian economy, promote a people-centered approach to political and social challenges, and galvanize a renewed commitment among stakeholders to urgently and actively prioritize the pursuit of economic growth that could create jobs and lift millions out of poverty.
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