Nigerian Economic Summit Group

Nigerian Economic Summit Group
Name	Nigerian Economic Summit Group
Founded	0 1996
Location	Abuja, Nigeria
Key people	Niyi Yusuf (Chairman), Laoye Jaiyeola (CEO)
Focus	Economic policy, private sector development, public-private partnership
Website	https://nesgroup.org/

Nigerian Economic Summit Group is a leading non-governmental organization and think tank dedicated to fostering a modern, globally competitive Nigerian economy through sustained dialogue and advocacy. Established as a public-private partnership, it serves as a primary platform for policy discourse between the Government of Nigeria, the Organized Private Sector of Nigeria, and broader civil society. The group is best known for organizing the annual Nigerian Economic Summit in collaboration with the Federal Ministry of Finance, Budget and National Planning.

History

The organization was founded in 1996 following the inaugural Nigerian Economic Summit held the previous year, an event conceived to address the severe economic challenges during the military regime of General Sani Abacha. Key founding figures included prominent industrialists and policymakers like Ernest Shonekan, who served as the first Head of the Interim National Government, and Aliko Dangote, among other captains of industry. Its creation was influenced by similar models like the World Economic Forum and aimed to institutionalize a structured, annual dialogue for national development. Over the decades, it has engaged with successive administrations from the presidency of Olusegun Obasanjo through to the current government of Bola Tinubu, evolving into a pivotal institution in Nigeria's policy landscape.

Objectives and mission

The core mission is to champion the reform of the Nigerian economy and promote the emergence of a modern, globally competitive, sustainable, and inclusive private-sector-led economy. Its primary objectives include facilitating the formulation and implementation of social and economic reform policies, promoting and facilitating foreign direct investment into key sectors, and enhancing the effectiveness of the Organized Private Sector of Nigeria. The group also aims to build a knowledge-based economy by supporting research and advocating for critical reforms in areas such as power sector reform in Nigeria, taxation in Nigeria, and infrastructure development.

Structure and governance

The organization is governed by a Board of Directors composed of distinguished leaders from the private sector, academia, and former public servants, with Niyi Yusuf serving as Chairman. Day-to-day operations are managed by a professional secretariat headed by the Chief Executive Officer, Laoye Jaiyeola. Its membership comprises a coalition of major corporate entities, including Dangote Group, MTN Nigeria, and Access Bank, as well as sectoral associations like the Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry. The structure includes various thematic commissions and committees that focus on specific policy areas such as agriculture in Nigeria, digital economy, and healthcare in Nigeria.

Activities and impact

Its flagship activity is the annual Nigerian Economic Summit, a multi-stakeholder gathering that sets the agenda for national economic discourse and has produced influential policy documents like the National Economic Empowerment and Development Strategy. Beyond the summit, the group conducts high-level research, publishes policy briefs and the annual Nigerian Economic Summit Group Economic Outlook, and hosts roundtables and technical sessions. Its advocacy has significantly influenced major policy shifts, including contributions to the design of the Electric Power Sector Reform Act, reforms at the Corporate Affairs Commission, and debates on the Petroleum Industry Act. The group's work is regularly cited in deliberations of the National Assembly of Nigeria and by institutions like the Central Bank of Nigeria.

Key initiatives and programs

Notable long-term initiatives include the Nigerian Economic Summit Group Productivity Report, which benchmarks national competitiveness, and the Nigerian Economic Summit Group Health Policy Initiative, aimed at strengthening the nation's health system. It runs the Nigerian Economic Summit Group Youth Entrepreneurship Programme to support small and medium-sized enterprises and future business leaders. The organization also spearheads the Nigerian Economic Summit Group Digital Economy Roundtable, focusing on policies for broadband penetration and fintech growth, and has been instrumental in dialogues surrounding the implementation of the African Continental Free Trade Area agreement within Nigeria.

Partnerships and collaborations

The organization maintains strategic partnerships with key government bodies, notably the Federal Ministry of Finance, Budget and National Planning, with which it co-hosts the annual summit. It collaborates extensively with international development partners such as the World Bank Group, the International Monetary Fund, the United Nations Development Programme, and the African Development Bank. Within the private sector, it works with member companies like Shell Nigeria, Guaranty Trust Bank, and Microsoft Nigeria, as well as with media houses like Channels Television and BusinessDay to amplify its reach. It is also an active member of regional and global networks including the African Think Tanks Network and the Think Tanks and Civil Societies Program at the University of Pennsylvania.

Category:Economic research institutes Category:Organizations based in Abuja Category:Think tanks in Nigeria Category:1996 establishments in Nigeria