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NESG calls for improved security, inclusive growth

By BusinessNews Staff on October 18, 2015

The 21st edition of the Nigerian Economic Summit (NES#21) drew to a close yesterday with recommendations to the President Muhammadu Buhari administration to work towards a more inclusive growth as well as address the dilemma of insecurity across the country to allow for economic empowerment of Nigerians.

The summit equally called for the implementation of the Oronsanye Report which had sought to institute performance management system with new appraisal metrics that track, measure and reward performance.

It further stressed the need to re-engineer MDAs business processes to remodel the bureaucratic system and its red tape and bottlenecks.
It also called for a competency-based human resource function founded on a robust performance management system, flexible employment policy and compensation structure to restore government as employers of choice.

The summit called on government to Privatise/concession the railways (focus on freight), major highways, major airports, refineries/pipelines/depots and alternative financing options in the areas of infrastructure investment both directly and through PPPs as well as privatisation of the power transmission network and increase power generation to achieve 20,000 megawatts target.
It added that all obsolete laws that are impediments of the Global Competitiveness Index (GCI) and ease of doing business should be identified to expedite speedy legislation and further simplify regulation to eliminate bottlenecks and outdated laws.

On corruption, the summit called for the strengthening of legal framework for repatriation of stolen funds, institutionalise disincentives for graft with no sacred cows.

To improve on security, it recommend the strengthening of existing framework for information sharing, intelligence gathering and response to security threats, installation of early warning systems and citizens engagement.

It further called for increased budgetary allocation of 20 per cent to education; training enhancement recognise and reward of our teachers! implement the laws on national skills standardisation, certification and apprenticeship programmes! raise the quality & standards of universities to redress the outflow of students to foreign countries and increase investment in vocational education.

The communique said education institutions should provide strong entrepreneurial orientation at all levels while curriculum development must take into cognisance, the needs of the employers of labour.

It urged the current administration to create a framework for national implementation of the sustainable development goals (SDGs) and support a network of private actors to drive implementation of corporate social investments and sustainability standards.

Addressing journalists at a post summit briefing, Chairman, Nigerian Economic Summit Group (NESG), Mr. Kyari Bukar, described the summit as highly successful but noted that execution of the recommendations was more critical.
He expressed confidence that the present administration would not jettison the brilliant ideas put together by seasoned experts who graced the occasion.
He also said the 22nd economic summit had been agreed for October 11-13, 2016.

[ThisDay]

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