COVID-19: NESG Says Manufacturing, Trade Sector Will Suffer Decline In Output

… As FG inaugurates Committee for NESG#26

By Matthew Ogune, Abuja
Chairman of the Nigerian Economic Summit Group (NESG), Asue Ighodolo on Friday warned that Nigeria’s manufacturing and trade sectors may suffer decline in output if the country fails to take and implement the right decisions.
Ighodolo stated this at the formal inauguration of the Joint Planning Committee (JPC) for the 26th Nigerian Economic Summit (NES#26).
Noting that the effect of COVID-19 on the global economy poses more difficulties ahead, the Chairman said with the current situation of the economy it is essential that the nation adopts a better approach to reflate, build and strengthen the economy.
According to him, the new approach must be a strong partnership framework between some National governmental and private association in addition to the subsisting partnership with the federal Government.
Regretting that the most populous black nation has for too long struggled to attain it’s own potential, Ighodolo maintained that the consequences of the pandemic afford the country the opportunity to press its reset button, adding: “We must take and implement the right decisions and weed out all tendencies that draw us back as a nation.
“All hands must be on deck, all those who place their personal interest above the national goals must be identified and removed from where they can cause further damage.
“It is our hope that the 26th NESG would be a big conversation and action for public and private sector, CSOs, Media, stakeholders, and all Nigerians, so we can reflect on the state of the Nigerian economy, deliberate the impact of the global pandemic on the economic as we explore emerging trends that will enable Nigeria capitalize on new opportunities and chart a path.”
Inauguarating the committee, the Minister of State for Budget and National Planning, Clem Ikanade Agba who disclosed that the Economic Summit #NES26, would be holding on the 26th and 27th of October, 2020 with the theme: ‘Building Partnerships for Resilience’, maintained that the summit will convene national and global policy makers, business leaders, development partners and scholars to lead and participate in sessions that will focus on building strategic partnerships and cooperation between governments, businesses and the civil society for resilience.
Agba urged the committee to mobilize relevant public and private stakeholders for the summit, especially, at the Federal, state and local government level as well as the private sector and other key stakeholders.
He also stressed the need for them to undertake any other work that may lead to the successful hosting of the summit.