Public-private dialogue model will actualize Nigeria’s economic growth ― NESG

The Nigerian Economic Summit Group (NESG), has highlighted Public-Private Dialogue (PPD) as the pathway to Nigeria’s economic growth.

NESG CEO, Mr Laoye Jaiyeola, at a recent parley on the role of PPD in Nigeria’s socio-economic development, emphasized that government needs the collaboration of stakeholders to shore up its resources.

As such, he said NESG works through a network of volunteers and corporate organisations to foster dialogue between the government and the private sector to advance the nation’s economic agenda.

He said: “The NESG is providing technical assistance in creating the medium-term development plan agenda 2050 for Nigeria, and we are financed through corporate institutions and donations. By working together with all stakeholders, we will be able to achieve our mandate of driving sustainable and economic growth in Nigeria.”

According to Mr Nnanna Ude, Managing Partner, AGON Continental Limited and Board Member, NESG, the Group has made a significant impact across policy regulation, institutional and economic reforms.

This, he explained, includes the repeal of the Indigenization and Foreign Exchange Decree, pension reforms, power sector reforms, railway modernization, revitalization of the telecommunications sector and general improvement of Nigeria’s business environment.

In his words: “The NESG will continue to serve as a dialogue partner, connector, intervener and watchdog to address challenges that exist. This includes Nigeria’s post-pandemic economic recovery and resilience, globalization and rising nationalism, urbanization and climate change and African Continental Free Trade Area (AfCFTA) to meet the Sustainable Development Goals (SDGs) by 2030.”

Mrs Wonu Adetayo, Executive Director at Kainos Edge Consulting Limited and Board Member, NESG, while speaking on ‘Promoting Public-Private Dialogue through NESG’s Policy Commissions’, said the NESG’s PPD drives collaboration between the public and private sectors.

Adetayo explained that the PPD model engenders development, creates opportunities for discourse, supports transparency and fosters mutual trust by allowing policymakers, business leaders and experts to accurately determine the areas for reforms and co-create strategies.

She reiterated that the NESG has continued to provide platforms for healthy and robust conversations that drive economic development, adding that the NESG’s dialogue platforms include the policy commissions, communities of practice, roundtables, mini-summits, policy dialogue series and the Annual Nigerian Economic Summit.

On his part, Mr Ahmad Rabiu Managing Director, Dala Inland Dry Port Nigeria Limited, advised that the recommendations of the NESG be propagated by all leaders.

He added that the private sector should continue to ensure that all members follow laws, rules and policies laid down by the government while reiterating the need for transparency and communication for fostering the public-private dialogue model.

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