Nigerian Economic Summit Group

At the First Summit on February 1993, national leaders explored 1992-2020 global scenarios and defined the principles for building a competitive economy in Nigeria, across what the delegates called 'New Frontiers'.[6] This consisted of Education, Stabilization, Privatisation, Deregulation, Infrastructurisation, and Democratisation. After days of dialogue and deliberations, the Federal Government at NES #1 adopted the underlying economic philosophy that would be the premise of 21st Century Nigeria.[7]

Over successive Economic Summits, this economic philosophy formed the basis of reform proposals culminating in several National Development Agendas. By NES#3 (1996), the National Stakeholder Consensus was that there was a need for a National Vision. This Summit proposed a National Vision Statement for Nigeria by 2025: “Nigeria will be a well ordered, well-governed, just and prosperous nation, united in a sustained endeavor”. It also proposed a 'Change Program' from 1996 to 2010, laying the foundation for the 'Vision 2010' agenda.[8] Following the extensive recommendations of the NES#3, Nigeria's 'Vision 2010' Committee, consisting of 240 members who were primarily from the NESG, submitted the 'Vision 2010' report; hence NES#4 was dedicated to its implementation.[9]

By 2001, Nigeria had transformed into a modern 21st-Century African Democracy and with a growth rate of 10%. World Bank Reports noted Nigeria in the 'MINT' nations with the economic potential to join the 'BRICS' nations, as well as the top league of 20 most prosperous nations in the world. The need for a more robust and ambitious agenda was recommended. This led to the articulation of the 'National Economic Empowerment Development Strategy (NEEDS)' and the corresponding 'State Economic Empowerment Development Strategies (SEEDS)' in NES#10 and its subsequent implementation in NES#11 in 2005. With the NEEDS-SEEDS synergies in place, the National Stakeholders noted the lack of clarity in terms of Nigeria's Vision on a Sector-by-Sector basis, and in cognizance of the global narratives of Nigeria joining the league of 20, in the middle of successful on-going reforms across sectors like Telecommunications, Transportation, Banking and Finance and Pensions. This led to the 2007 Summit Agenda Theme: 'Nigeria: Positioning for the Top 20 League', which was accentuated by the articulation of the 'Vision 20:2020'.  Nigeria's 'Vision 20:2020' was, therefore, an NES-inspired national effort aimed at growing and developing Nigeria, Africa's most populous nation, and bringing her to the league of the world's 20 leading economies by the year 2020.

The Nigerian 'Vision 20:2020' set a national agenda with ambitious targets and objectives to achieve rapid economic growth and to be one of the highest-ranking 20 economies in GDP size.[10] An analysis at how Vision 20:2020 has fared over the past ten years of its adoption and implementation shows very poor performance. Since 2009, Nigeria has had two administrations with their own individual socioeconomic development plans, which ‘in principle’ coincide with the terms of Vision 20:2020. The latest of these plans is the 'Economic Recovery and Growth Plan (ERGP)' 2017–2020; a plan aimed at much-needed economic recovery in the short-term that set a pathway for sustained and inclusive economic growth.

The Nigerian Economic Summit (NES) is the flagship event of the NESG and it is organized in collaboration with the national planning commission (NPC). The Nigerian Economic Summit has consistently focused on job creation, small and medium-sized enterprises (SME) growth, competitiveness, dismantling the pillars of corruption, encouraging sustainable growth and development and aligning home-grown long-term development agenda with the UN sustainable development goals. For 25 years, the Nigerian Economic Summit Group has accomplished a great deal in terms of research outputs and the implementation of programs, including seminars, conferences, and workshops.[11]

The Start-ups Pitching Event was introduced by the Nigerian Economic Summit Group as part of its flagship event, the Nigerian Economic Summit (NES) in 2017. It serves as a platform for entrepreneurs to grow and fund their businesses. The start-up Pitching event comes wit opportunities for mentorship and professional advisory services. The Start-Ups Pitching Event also was held in 2019 in the 25th anniversary Summit with the winners receiving grants.

The 13 policy commissions are as follows:

1. Energy Policy commission
2. Science and Innovation policy commission
3. Manufacturing and solid minerals development policy commission
4. Agriculture and food security policy commission
5. Infrastructure and logistics policy commission
6. Education policy commission
7. Governance and institutions policy commission
8. Trade investment and competitiveness policy commission
9. Finance, financial inclusion and financial markets policy commission
10. Sustainability policy commission
11. Tourism, Hospitality, Entertainment, Creative Industries and Sport as a Business
12. Health policy commission
13. Digital Economy policy commission[13]

The structure of the Policy Commissions of the NESG is made up of sub-groups which are otherwise known as Thematic groups. There are 44 thematic groups that make up the policy commission structure of the NESG.

The National Assembly Business Environment Roundtable (NASSBER) was established in 2016 as a partnership between the National Assembly, NESG and Nigerian Bar Association – Section on Business Law with support from the ENABLE2 programme of the UK Department of International Development to intervene in improving the business environment as a pathway to economic growth and development using legislative instruments.[16]

• Official website