STAKEHOLDERS DELIBERATE NIGERIA’S ECONOMIC GROWTH AT THE ECONOMIST’S NIGERIA SUMMIT

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Stakeholders within various sectors of the economy have unanimously agreed that the economic divide between the North and the South within the country, is one key driver behind instability in Nigeria. This was one of the topics of discussion during the two-day event concluded last week at the 10th edition of the annual Nigeria Summit in Lagos organised by top International magazine's events arm, The Economist Events. The theme for this year’s summit ‘Turning growth into prosperity,’ delved into key points on how Nigeria has become a hub for Foreign Direct Investment (FDI) for both the Eastern and Western world powers, and the need for a proper strategy for Nigeria that promotes trade and commerce between its neighbours and major international partners. The summit, which was held on March 24th-25th at The InterContinental Hotel, Lagos, had a wide range of global and local delegates and speakers drawn from top corporations, Government and Nigerian society. This year’s summit featured key speakers like Nigeria’s Minister of Agriculture, Hon. Akinwumi Adesina; Nigeria’s Minister of Communication and Technology, Hon. Omobola Johnson; Special Representative of the Chinese Government for African Affairs, Zhong Jianhua;  Founder and Chairman, Indorama Corporation, Sri Prakash Lohia; Chief Executive Officer, African Capital Alliance; Okechukwu Enelamah;  Founder and Chief Executive Officer, The Chair Centre Group, Ibukun Awosika; and  Managing Director of Investments and Secretary of the Investment Committee, Wendel Group, Stephane Bacquaert; amongst other important dignitaries. Speaking at the Summit, Nigeria’s Minister of Communication Technology, Hon. Omobola Johnson, stated that the current growth in Nigeria’s ICT sector is sustainable, adding that the growth could be harnessed and leveraged to deliver on the transformational opportunities in Nigeria. She stated that by effectively executing Nigeria’s national strategic agenda for the sector, ICT could be leveraged to drive and sustain the socio-economic transformation of Nigeria.   “With the exception of a couple of sub-sectors, the 26 key sectors that make up the ICT sector are positioned for high to medium growth and in turn have high to medium capacity to create jobs and wealth,” Johnson said.   In a submission, the Chinese government's Special Representative on African Affairs Ambassador Zhong Jianhua, said economic transformation in Nigeria and Africa has been effective in the past decade which has contributed positively to the economic growth. He urged the Nigerian government to create more enabling environment for investors around the world to enhance development in the country. Commenting on the outcome of the summit, Executive Director of The Economist, Daniel Franklin disclosed, “This year’s Nigeria Summit brought together over 350 leaders drawn from different walks of life, including Nigeria’s public and private sectors, international business players and investors for a discussion on how Nigeria can turn its economic growth into social and political prosperity.” The just concluded Nigeria Summit was sponsored by Etisalat, First Bank, GTBank, Siemens, Standard Chartered, Accenture, Hanger 8, Oando, Oracle and P&G, and had its official PR partner as The Quadrant Company, official broadcast media as CNN, and official logistics supplier as DHL. For details of Economist Events' upcoming events please visit economistinsights.com/big-5.  

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