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FG Reiterates Support For NESG To Grow Economy

Minister of Budget and National Planning, Senator Udoma Udo Udoma has reiterated Government’s desire to continue to work with the Nigerian Economic Summit Group (NESG) and the private sector to develop the country’s economy.
Udoma made this known yesterday, in Abuja during the formal presentation of the final summary report of the Nigerian Economic Summit Group (NESG) Session 21 which held in October last year.
Chairman of NESG, Bukar Abba Kyari, who led a delegation of the group on a courtesy visit presented the report (the Green Book) to the Minister.
Udoma who commended the Group for volunteering their time and effort and working at their own expense, said that they deserved every commendation because it was remarkable for them to have continued in organizing this annual summit every year for 21 years.
He also appreciated them for not giving up even when some of the Summit recommendations were not given expected attention, pointing out that the impact of the annual Summit on Government has been most impressive.
According to him, some of the policy recommendations that were initially resisted, are now being given consideration by Government, noting in particular that one of the most important things taken from last year’s Summit is to diversification of the nation’s economy away from oil.
The minister also reminded that the country cannot grow its economy unless the private sector is stimulated, which is why some of their recommendations were already part of Government’s policies assuring that other recommendations would be looked into.
Earlier, the Chairman of the board of Directors of NESG, Mr. Abba Kyari, while presenting the summary of the 21st summit, said that the theme “Tough Choices: Achieving Competitiveness, Inclusive Growth and Sustainability” was consistent with the NESG’s commitment to continually focus on contemporary issues of public policy, which constrain improvement and the welfare and well-being of our people.
According to the Chairman, the main objective of NESG 21 was to examine and facilitate stakeholders’ consensus on the tough choices that needed to be made in order to address the economic situation that the country had found on the heels of commodity price shocks, chart a practical roadmap to achieving competitiveness and inclusive growth in a sustainable way, through measurable outcomes.
He went further to state that the Summit engaged in high-level and in-depth discussions and debate which included Current State Analysis of the Economy; Country Scenario Presentation; National Budget Framework to Aid Competitiveness, Inclusive Growth and Sustainability; Sustainable Solutions for Peace and Threats to Human Security among others.
On the recommendations from the Summit, Mr. Bukar listed Institutions, Infrastructure, Legislations, Tackling Corruption, Security, Energy, Education and Skills, Health, Job Creation and MSMEs as the key recommendations that hold the thrust for tough choices.
He however, concluded that if the Summit recommendations be taken into account and appropriately implemented, all growth poles in the Nigerian economy will unleash their potential for employment generation and economic productivity which are critical to Nigeria’s overall economic and human prosperit

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