2023: NESG sets economic priorities for presidential candidates

The Nigeria Economic Summit Group (NESG) has highlighted some priorities presidential candidates and vice presidential candidates need to consider to address the country’s economic challenges.

The group’s Chairman, Asue Ighodalo listed the priorities for the next president at the ongoing 28th Nigerian Economic Summit (NES#28) holding at Transcorp Hilton, Abuja.

At the summit themed “2023 and Beyond: Priorities for Shared Prosperity,” Ighodalo said the next president on assumption of office must quickly identify, determine and implement economic and social policies that would set the country firmly on the path of inclusive, shared and sustainable prosperity.

He explained that the priorities of the next government must focus on job creation, accelerated human capital development, social protection and development, and rebuilding and rejigging national institutions.

He said, “Anyone of our candidates who seeks the office of president and vice president, who does not subscribe to these consensus issues, does not clearly understand the problems facing us as a country, has not thought about how these problems must be dealt with, and cannot have the capacity and understanding to lead this country at this time.

“We are in extremely difficult times, and we must push and pull ourselves out of these difficulties. Many of these difficulties are of our own making and we must retrace our steps.

“Some are exogenous, being globally induced, but we must have the cushioned capacity to weather and absorb them.

“So, at this summit, we must work harder than ever before, think differently and then, we must agree on creative and practical recommendations, which, if implemented, will initiate our national revival and pull us out of these difficulties.

“In addition to the difficulty of these times, in just over six months, a new federal government will be in place. The new government will most likely think differently, have a different approach and a different attitude to governance, and will certainly have different personnel.

Speaking at the event, President Muhammadu Buhari, represented by Vice President Yemi Osinbajo emphasised the need to boost local production, value-addition, and supply.

“Our focus must now be on productivity or encouraging value addition. Productivity and value addition means creation of tradable value, it means jobs, opportunities, and it means more tax revenue. To increase productivity, we must free up our environment for business”, the president said.

Also speaking at the event, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said the Federal Government started publishing the monthly Federation Account Allocation Committee (FAAC) disbursements to states to enable and encourage Nigerians to understand the financial inflows and ask questions concerning their utilisation.

Ahmed who spoke during a panel discussion titled ‘The Nigeria we want’, added that the FG has started producing infographics to make it easier for Nigerians to see graphically the data on how much is collected in each category of major revenue streams.

Another member of the panel, Mr. Atedo Peterside decried the high level of poverty in the country.

The founder of Stanbic/IBTC Bank Plc said he wondered how Nigerians living below the poverty line survive every day.

He, therefore, called on the government to urgently address the issues of fuel subsidy and multiple exchange rates.

The Nigerian Economic Summit is a yearly event organised by the Nigerian Economic Summit Group (NESG) in partnership with the Federal Government to facilitate discussions about the country's development imperatives.