The Nigerian Economic Summit Group (NESG) and the Nigerian Governors’ Forum (NGF) have signed a Memorandum of Understanding (MoU) to facilitate dialogue and develop joint programmes to promote sub-national economic competitiveness in Nigeria.
The MoU was signed on the sidelines of the 23rd Nigerian Economic Summit in Abuja.
A statement by the management of NESG in Abuja on Wednesday indicated that the MoU, a national development strategy, commended the roles of state governments and the private sector in archiving national and sub-national economic goals.
It said the document also emphasised the need to work together, to provide meaningful engagement platforms for both bodies to effectively play their roles.
The statement reported Mr Laoye Jaiyeola, the Chief Executive Officer of NESG, as saying that the NESG was pleased with the platform created by the MoU .
Jaiyeola said that the agreement would provide Nigeria’s private sector the opportunity to engage ministries, departments and agencies in sub-national governments across the country.
He said NESG was optimistic that the dialogue created by the platform would result into recommendations that would make the various states more competitive as destinations for local and foreign investments.
He said that NESG and the NGF agreed to work together to develop strategies for national economic competitiveness.
According to the statement, the NESG and NGF will convene regional, sub-national economic summits that will focus on building competitive advantages within state clusters and geographic corridors.
It said that the envisaged summits would also be tailored to develop economic ties across different sectors and discover unique opportunities that characterised different regional blocs.
It further said:“The NESG will provide technical assistance to the NGF in several areas, including the development and implementation of sub-national economic summits as well as the development of a sub-national government agenda to address the ease of doing business.“
The statement further revealed that the NGF would provide a joint secretariat for public-private dialogue and engagement with sub-national governments.
“It will also establish sub-national working groups, comprising representatives of states’ heads of ministries, departments and agencies necessary for driving economic reform actions and recommendations,“ it said.