NESG moves to strengthen institutional framework for economic growth

 

The Nigeria Economic Summit Group (NESG) has established a centre for legislative reforms and economic development in its bid to build synergy between the public and the private sector.

Speaking at the launch of the initiative at the ongoing NESG summit in Abuja, Chairman of the Group, Niyi Yusuf, said the time has come for the adoption of inclusive approaches to strengthen synergy between the public and the private sector

The Centre, which is named after Head, National Interim Government (NIG), Ernest Sonekan, Yusuf lamented that at the core of Nigeria’s economic transformation include the increasing cost of living, the burden of multiple taxes, and the high unemployment rate.

“Poor economic outcomes, characterised by stagnation, low growth and inadequate investment, have impeded our progress. This Centre will address critical issues about competitiveness and sustainability through enhanced synergy between the legislature, private and public sectors,” he stated.

On why the Centre is named after Sonekan, Yusuf said the former UAC chief was a visionary leader who recognised the importance of public and private sector collaboration.

He added: “As a lawyer and elder statesman, it is an honour to name the Centre after him and I thank Mrs Margaret Shonekan and the family for their support. As we launch the Ernest Shonekan Center for Legislative Reforms and Economic Development, let us reaffirm our collective commitment to surmounting these pressing challenges and steering our nation toward a future of prosperity and sustainable development.”

On his part, the Chairman, Conference of Speakers of State Legislatures of Nigeria, Adebo Ogundoyin, lauded the NESG for promoting and championing the reform of the Nigerian economy into a modern globally competitive, sustainable, inclusive and open one.

He added that as lawmakers, legislators acknowledge the significance of making changes to laws and regulations that shape the economic landscape, saying, “We are fully dedicated to endorsing endeavours that promote economic attractiveness and business environment. With our thorough understanding of the legislative process, we are prepared to offer our assistance in providing valuable insights, analysis, and recommendations to further the goals of The Ernest Shonekan Centre.”