" /> Udoma: Economic Summit will Revamp Nigerian Economy | Hallmarknews
Published On: Mon, Oct 10th, 2016

Udoma: Economic Summit will Revamp Nigerian Economy

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has assured Nigerians that the 22nd Nigerian Economic Summit, which opens today in Abuja, will address issues and generate debates targeted at revamping the Nigerian economy.

According to him, the summit would begin with presidential dialogue at the opening ceremony, followed by a roundtable with the Vice President Yemi Osinbajo, and would be attended by top industry players.

 

President Muhammadu Buhari is expected to declare NES#22 open and lead a presidential policy dialogue which will focus on key strategic elements required to drive global competitiveness and sustenance for Made-in-Nigeria products and services and strengthen Nigeria’s economy via plenary sessions, Osinbajo will lead the roundtable session on job creation, skills acquisition and development at the summit.

 

Other high level dignitaries expected at the summit include Minister of Finance, Mrs. Kemi Adeosun; MD/CEO, First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan; MD, FBN Merchant Bank Limited, Kayode Akinkugbe, among others.

 

The summit is also a veritable platform that will facilitate stakeholders’ discussions/agreements on the practical issues, opportunities that abound, policies and regulations needed to make “Made In Nigeria” a success in the country.

READ  Pressure mounts on CBN to cut interest rates

 

The Nigerian Economic Summit with the theme ‘Made in Nigeria’, is in line with the Buhari administration’s commitment to diversify the productive base of the economy away from oil.

 

The summit, which is being organised by the Nigerian Economic Summit Group (NESG) is targeted at unlocking the economic potentials of the non-oil and high-employment sectors, so as to achieve a sustainable inclusive growth that will ensure that the majority of Nigerians become more productive, thereby reducing poverty.

 

We are deliberately working towards diversifying the Nigerian economy by ensuring that non-oil sector drives the economy because this is the sector that contributes the most to GDP, and has more capacity to employ, Udoma said.

 

“The basic strategy is to reflate the economy through fiscal stimulus and strategic implementation of annual budgets. What this means is that we are geared to strategically spend our way out of recession. Unfortunately, we have not met all our planned expenditures for 2016 due to low revenue out-turns. However, we have ensured that the resources that we release are targeted at priorities that will stimulate activities in the economy,” Udoma added.

READ  Creche, Daycare Services As a business

 

According to the organisers, the summit is designed to encourage more production and consumption of ‘Made -in-Nigeria Goods and Services.’

 

Past summits have made recommendations on self-sufficiency in local production and an export-driven economy. With our current economic realities, this is the perfect opportunities to articulate a national discussion on ‘Made-in -Nigeria’ to promote the goods and services that are already up to standards for consumption, encourage exports and increase opportunities for small and medium enterprises (SMEs),” the organisers said.

 

Director, NESG, Mrs. Wonu Adetayo, also assured Nigerians that the summit would implement resolutions that would be reached at the summit, for the good of the country.

Reactions from Facebook

comments and opinions

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Recent posts

  • How to pick best name for your business

    The name of a business has a significant role to play in its success or failure, especially when it is a small business. The right name can make your company the talk of the town. The wrong one can doom it to obscurity and failure. Ideally, your name should convey the expertise, value and uniqueness […]

  • Operation Python Dance scuttled agreement on restructuring – Uko

    Obinna Ezugwu   Evangelist Elliot Ugochukwu Uko is the Founder of the Igbo Youth Movement, Secretary, Eastern Consultative Assembly and the Deputy Secretary, Igbo Leaders of Thought. In this interview, he alleges that those opposed to the restructuring of Nigeria are after Nnamdi Kanu, and their intention is to kill him so the agitation will […]

  • How customs uncovered arms import – F.O.U Boss

    Comptroller Mohammed Uba Garba is a crack enforcement officer deployed from Federal Operation (FOU) Zone ‘C’, Owerri where he recorded some daring performances. His string of  achievements in Zone ‘C’ made the Customs top hierarchy to redeploy him to FOU, Zone ‘’A’’ which accounts for 70 per cent of Customs revenue as well as being the hot […]

  • Cement: Distributors, consumers explain Dangote’s dominance

      EMEKA EJERE As Nigeria continues to grow in the area of real estate, one item that is increasingly favoured is cement, given its indispensability in building construction from the foundation to the finishing. But among the cement brands, BusinessHallmark’s investigations revealed that a number of factors are in favour of Dangote Cement, which explain […]

  • Consolidation: NAICOM suspends licence issuance

    EMEKA EJERE The Commissioner for Insurance, Mr. Mohammed Kari, has said that the National Insurance Commission has refused to issue new operational licences to insurance firms because it is better for the industry to embrace consolidation than to start new companies. Kari spoke during the Annual Insurance Professional Forum of the Chartered Insurance Institute of […]

  • NHIS boss calls for compulsory national health insurance scheme

      EMEKA EJERE Acting Executive Secretary of the National Health Insurance Scheme (NHIS) Mr. Attahiru Ibrahim, has stated that health insurance should be made compulsory for Nigerians if the country must achieve universal health coverage. Ibrahim who was briefing reporters last week in Abuja on the activities of the scheme appealed for the amendment of […]

  • Creche, Daycare Services As a business

    The number of full-time housewives in urban areas is on a rapid decline. Unlike anytime in its history, more Nigerian women are working at paid jobs or running their own small businesses. As a result of this trend, there is a growing opportunity for convenience services like crèche and daycare centre businesses. More middle class […]

  • Pressure mounts on CBN to cut interest rates

    The Central Bank of Nigeria governor, Godwin Emefiele, was not the most popular choice of head of the Bank when erstwhile President Goodluck Jonathan appointed him as helmsman. Emefiele was considered too much of a bureaucrat; tall on process but short on big ideas. Besides it was suspected that Emefiele did not have enough practical […]

  • E-BANKING: New Hi-Tech culture changes the rules

    FELIX OLOYEDE Nigerian banks have moved the theatre of competition from brick and mortar financial service vending to a new place. Here the codes are a series of zeroes and ones, the actors are not svelte ladies in high –heeled shoes and short skirts looking up rather than down or men with smooth cheeks, crew […]

  • Union Bank: N50b lifeline for the Stallion

    OKEY ONYENWEAKU   As part of its strategic effort to reposition a balance sheet a few financial analysts had, hitherto, considered relatively weak and improve liquidity Union Bank of Nigeria (UBN) Plc has raised a N50 billion Rights Issue straight in the middle of one of the slowest growth rates the economy has experienced in […]

  • IPOB: Igbo elders keep mum over crisis

    Obinna Ezugwu   Mayhem! There is no better word to describe the events playing out in the South East zone, and Abia State, the home state of rabble rousing leader of the Indigenous Peoples of Biafra (IPOB) in particular at the moment. It has to do with the intense military onslaught and the result has […]

  • Nigeria returns to African Trade Insurance Agency

    Federal Executive Council on Wednesday gave a approval for Nigeria to rejoin the African Trade Insurance Agency. Minister of Finance, Mrs. Kemi Adeosun stated this Wednesday while addressing State House correspondents after the Federal Executive Council meeting presided over by President Muhammadu Buhari. Adeosun said the council approved a memo she presented which harped on the necessity […]

  • Fidelity Bank to give out over N110 Million to Customers in ‘Get Alert In Millions Promo Reloaded’

      Top Nigerian lender, Fidelity Bank Plc is set to delight the banking public with the introduction of a fresh Savings promo that promises to provide new and existing customers with the unique opportunity to win fantastic cash prizes within a specific period. The promo dubbed ‘Get Alert In Millions Promo Reloaded’ is in line […]

  • Royal Exchange defies the odds   

    EMEKA EJERE Royal Exchange Insurance Plc has continued to resist the volatile and tough operating environment of Nigeria, recording a double digit growth in half year profit. Despite the hostile operating environment experienced by the insurance sub-sector and the financial services industry, the underwriter last week announced profit after tax (PAT) of N203.3 million in […]

  • STANBIC IBTC constructs recovery after a storm

    Stanbic IBTC Holdings came to being as a result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. On 24 September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited. Stanbic Africa Holdings Limited on behalf of Standard Bank tendered an offer for the acquisition of additional IBTC shares […]

  • How PZ makes investors beg for more but….

    Full year results for PZ-Cussons ended on a happy note in May as the company’s profit after tax soared by a hefty 73 per cent rising from N2.1 billion in 2016 to N3.7billion in 2017. The company’s fairy tale result has had several investors emptying their piggy banks as the company’s share price jumps on […]


Visit us on Google+