The Nigerian Economic Summit Group Ltd/Gte (NESG)

Responsible for development (economic) of the nation

what are the causes for the creation of the NESG
Nigeria’s attempts at economic development since independence had been managed by the army, which governed for the a considerable period of her initial decades as an independent nation. Years of military rule, corruption, and mismanagement hobbled economic activity and output in Nigeria. According to the Economist Intelligence Unit and the World Bank, Nigerian GDP at purchasing power parity was only at $170.7 billion as of FY 2005. The GDP per head is at $692. The performance of the military was ineffective, resulting in stunted economic growth, corruption, and harsh operating environment which was neither conducive to private investment nor to sustainable economic development.

Against a background of declining economic fortunes, it became obvious that unless urgent measures in the context of a national vision were in place, Nigeria would not be able to realise full potential.

Shortly after he was appointed Chairman of the Transitional Council in January 1993, Chief Ernest Shonekan convened the 1st Nigerian Economic Summit (NES 1) in February 93. The Summit brought key managers from the private sector and senior government officials for a 3 day discourse on how to tackle Nigeria’s economic issues.

effect of Summit

The 1st Summit caused a realisation it was possible for the private sector to co-operate and dialogue with the public sector

led to wider participation in later Summits.

A core group of participants from the 1st Summit developed a more formalised private sector structure, which formed the basis of the present NESG. The NESG was incorporated in 96 as a company limited by guarantee.

http://www.nesgroup.org/ The website

the NESG is running programmes such as: The annual Nigerian Economic Summit (NES), Mini Summits and Conferences targeting key sectors such as Oil and Gas Conference, International Conference on Infrastructure Development in Nigeria, Agricultural Summit, Nigeria US Investment Conference, Policy Dialogues on specific policies and programmes, Public Lectures on burning issues affecting the national economy or cross cutting subjects of broad national interest to learn more about our programmes please use the Programmes Sublinks

Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa and the most populous country on the African continent. Nigeria shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, Niger in the north, and borders the Gulf of Guinea in the south.

economic sector

Agricultural products include groundnuts, palm oil, cocoa, coconut, citrus fruits, maize, millet, cassava, yams and sugar cane. It also has a booming leather and textile industry, with industries located in Kano, Abeokuta, Onitsha, and Lagos.

trade economic

Nigeria is a leading petroleum producer and exporter. It is the 12th largest producer of petroleum in the world and the 8th largest exporter

 


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