The Nigerian Economic Summit Group (NESG) and the Nigerian Governors Forum have signed a memorandum of understanding (MoU) to facilitate dialogue and develop joint programmes geared towards promoting sub-national competitiveness as a national development strategy.
The MoU was signed on the sidelines of the 23rd edition of the Nigerian Economic Summit.
The signing of the MoU reflects the appreciation of the roles of the state governments and the private sector in accomplishing national and sub-national economic goals, and the need to work together in providing meaningful engagement platforms for both to effectively play their respective roles.
Commenting on the MoU, Mr Laoye Jaiyeola, the CEO of the NESG said that the NESG is delighted with the platform created by this MoU for Nigeria’s private sector to engage the ministries, departments and agencies in sub-national governments across Nigeria.
We are optimistic that the dialogue created by this platform will lead to recommendations that will make the various states more competitive as destinations for local and foreign investments. “
Under the MoU, the NESG and the NGF have agreed to work together to develop strategies for national economic competitiveness.
In addition, the NESG and NGF will convene regional/sub-national economic summits that are focused on building competitive advantages within state clusters, geographic corridors, economic belts across different sectors and unique opportunities that characterize different regional blocs.
The NESG will provide technical assistance to the NGF in several areas including the development and implementation of sub-national economic summits as well as the development of a sub-national government agenda to address the ease of doing business.
On its part, the NGF will provide a joint secretariat for public-private dialogue and engagement with sub-national governments.
It will also establish sub-national working groups comprising representatives of state government heads of ministries, departments and agencies crucial for driving economic reform actions and recommendations.
The Nigerian Economic Summit Group (NESG) is a private sector led think-tank organization that promotes sustainable growth and development in the Nigerian economy.
It is a non-profit/non-partisan organisation with a mandate to promote and champion the reform of the Nigerian economy into an open, private sector-led economy that is globally competitive on a sustainable basis.
Over the years, it has emerged as the leading platform for public-private dialogue in Nigeria.