NESG signs MoU with State Assembly Speakers
By Patience Ikpeme
The Nigerian Economic Summit Group (NESG) has called for more collaborations between the state governments and the private sector to achieve rapid economic recovery.
This call was made at the signing of a memorandum of understanding between NESG and Conference of Speakers of State Legislatures of Nigeria (CSSLN) on in Abuja.
At the signing ceremony, Chairman NESG, Niyi Yusuf stated that the event was necessitated by the urgent need to adopt a different approach to achieving rapid economic recovery.
He noted that the current economic situation in Nigeria makes it necessary for states to partner with the private sector to drive productivity, increase Internally Generated Revenue and attract foreign and domestic investments.
Mr Yusuf further disclosed that at a previous high-level dialogue which lead to the creation of a State Assemblies Business Roundtable(SABER), he identified several sectors within states that have the potential to spur economic growth.
These sectors include agriculture, trade, financial services, manufacturing, extractive industry, electricity, transportation, information and communication technology and the creative industry.
Mr. Yusuf said it’s important for states to create an enabling environment for businesses to thrive, and state governments can unlock opportunities for innovation, job creation and wealth generation. ultimately, a vibrant private sector supported by an enabling business environment lays the foundation for a resilient and prosperous economy.
“States can harness their full potential, utilising tools that enable a conducive business environment for Nano, Micro, Small and Medium Enterprises (NMSMEs) to thrive. Legal and Regulatory frameworks can enable the ease of doing business, enhance the competitiveness of businesses, and promote trust, integrity, and stability in the overall business environment” he stated .
Also speaking at the event, the Mr Edward Adebo Ogundoyin, chairman CSSLN said the partnership marks a significant milestone in their collective efforts to drive significant economic growth and development in their states and Nigeria at large.
Mr. Ogundoyin reveled that this partnership signifies a commitment to fostering conversations and collaborating on projects that focus on establishing effective legislative structures to enhance business environment at the sub-national level and improve sub-national competitiveness.
“The SABER will ensure effective collaboration of all relevant partners. Certainly, there exists a considerable task ahead of us, presenting a significant opportunity for collaboration.
“It is imperative that we unite our efforts and seize this moment to advance the national interest. As our states improve their competitiveness, the private sector will flourish, Nigerians will prosper, and our nation will transform into a resilient and inclusive economy” Ogundoyin said.
