Nigeria’s market size, natural resources enough to transform Africa – NESG

The Nigerian Economic Summit Group (NESG) has identified Nigeria’s market size, natural resources, regional trade and investment, remittances, institutions, integration, industry growth and innovation as major factors that could be leveraged on to transform the African continent.

NESG said it is hoping that the outcome of the upcoming 30th Nigeria Economic Summit (#NES30) will be pivotal in shaping policies and strategies that harness Nigeria’s potential to drive transformation across the African continent.

The #NES30 with theme ‘Collaborative Action for Growth, Competitiveness, and Stability’, the organisers also noted will propel Nigeria and other African countries towards a more prosperous, inclusive, and resilient economic future.

NESG acting head, strategic communication and advocacy, Ms. Ayanyinka Ayanlowo who disclosed this in Abuja as part of preparations for the summit noted that the theme stands as a beacon for the Nigeria’s future trajectory.

According to her the summit’s role in shaping the future NES #30 aims to leverage Nigeria’s significant role to drive Africa’s transformation, adding that the theme will catalyse meaningful deliberations, focusing on institutions, investment, industry growth and innovation.

She disclosed further that the NES #30 will chart a path towards a more unified, competitive, and prosperous future, adding that the gathering will harness diverse perspectives and collective expertise to address common challenges, create shared opportunities, and ensure sustainable economic progress for all Africans.

She noted: “Nigeria’s vast population presents immense opportunities for businesses, driving regional consumption and investment.

“As one of Africa’s largest oil producers, fluctuations in Nigeria’s oil sector significantly impact the continent’s economic performance,
Nigeria’s economic strength influences its trade and investment relationships, shaping regional trade dynamics.

“Nigerian remittances support economic activities in other African countries, fostering cross-border ties, Strengthening institutions to support economic activities and governance, also attracting and managing investments to drive development.

Disclosing that the NESG has been at the forefront of Nigeria’s economic transformation for three decades, Ayanlowo maintained that the group will continue to champion open and continuous dialogue on Nigeria’s economic challenges and opportunities, ensuring that the country’s economic policies are inclusive, forward-thinking, and conducive to sustainable development.