Nigeria Economic Summit Group (NESG) seeks partnership with NILDS to foster positive economic development

  • Wednesday September 23, 2020 08:09 AM
  • NILS Press Corps
The leader of the delegation from the Nigeria Economic Summit Group (NESG), Senior Fellow, Legislative Reform and Program Management, Nnanna Ude who led a delegation on a courtesy visit to the Director General, National Institute for Legislative and Democratic Studies, NILDS on Tuesday, 22nd September explained that NESG, a non-profit, non-partisan private sector organization with a mandate to champion the reform of the Nigerian economy has emerged as the most notable platform for public-private dialogue in Nigeria and the flagship of the Group’s advocacy efforts is the annual Nigerian Economic Summit (NES), as it provides government and private sectors opportunity to review the progress made in economic reform efforts and agree on practical ways to manage issues which may have constrained effective policy implementation.

He also pointed out that in 2016, the National Assembly Business Environment Roundtable (NASSBER) was established in conjunction with the Nigeria Bar Association’s Section on Business Law as a platform for the legislature and private sector players to engage, deliberate and act on a framework that will improve Nigeria’s business environment through a review of relevant legislation and provisions of the Constitution.

He said at the 21st Nigerian Economic Summit in October 2015, there were two engagements that focused on the legislature and there was a clear recommendation that the National Assembly should embark on the immediate review of outdated business environment laws to lay a solid foundation for economic growth as well as another key recommendation that Summit was the need for the legislature to work with the private sector on debates related to the various sectors of the economy.

He explained that the NESG has been working in close collaboration with legislature and other partners and therefore stressed the need for them to work in tandem with NILDS to achieve strong economic growth through the instrumentality of appropriate and convincing bills, motions and legislation.
He reiterated the fact that there are 12 thematic areas of focus each covering an economic or business subject that will aggregate NASSBER’s areas which are trade, arbitration and dispute resolution, regulations, public finance and taxation, innovation and intellectual property, infrastructure and urban development, investments, financial services, data and digital economy human, human capital development, institutions and constitution review.

He then reckons that the NASSBER revolutionized the legislative process by providing the legislative and private sector a platform to work closely on legislation focused on tackling a specific challenge in the Nigerian economy and improving the business environment.

In response, the Director General of NILDS, Professor Abubakar O. Sulaiman appreciated them for the visit and observed that one of the key issues that bothers him is the fact that we place more credence on politics and social issues but the more critical issue has to do with the proper management of the economy. He however made it evidently clear that politics and the economy go together.

The legislature is a key player and component part of democracy, it is germane to note that every shade of opinion and diverse interests are ably represented in the National Assembly, he noted.

Prof. Abubakar further harped on the abundant human and natural resources in Nigeria and without a holistic approach to infrastructural development, the country will keep groping in darkness, to this end, the DG called on NESG to put the issue of the Integrated Masterplan on the front burner during their next summit.

He explained that the legislative arm of government is central to the growth and development of democracy and NILDS has a very formidable economic department with seasoned economists in different areas. He urged the team to develop areas of collaboration with the Institute within the next few months to be able to showcase the partnership and put the synergy to good use as soon as possible.

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