These are challenging times for Nigeria. In states, local governments, and communities, across the country, there are pervasive senses of insecurity, unemployment, inflation, poverty, hunger, inequality, the proliferation of ethnic militia and separatist agitations.
Nigeria’s economy exited recession in Q4’2020 with 0.11 percent growth, but remains fragile, with adverse impact on businesses, some of which have closed down, struggling or relocated outside Nigeria.
Foreign direct investments (FDI) have continued to decline with limited capital inflow into the country.
The Lagos Business School (LBS) and partners hold the optimistic view that significant opportunities exist within these daunting challenges for Nigeria to reinvent itself through strategic thinking and is therefore convening a two-day dialogue to examine Nigeria’s changing political economy and the policy options relevant for building a sustainable national development agenda based on shared values.
Asue Ighodalo, Chairman, Sterling Bank Plc (27/7/21)(12:15 pm)
We need to attract effective and patient capital from local and foreign investors which would create a multiplier effect on all sectors of the economy. However, no one wants to invest in an uncertain economy, so the government must address the issue of insecurity.
Asue Ighodalo, Chairman, Sterling Bank Plc (27/7/21)(12:10 pm)
To grow the economy by double-digits, we need to bridge the distrust between the public and private sector. The government cannot do it alone, it must seek to collaborate with others.
Oluseun Onigbinde Director/Co-Founder of BudgIT (27/7/21)(11:05 am)
80 percent of Nigerians registered by INEC are below the age of 50. That is where the power of Nigeria lies. But most of them have lost hope in Nigeria already and want to leave. They must be able to defeat apathy that comes in form of escapism. We need to raise a sense of awareness and reach them in a language they understand. The issue of unemployment and poor quality of education also needs to be addressed.
Koyin Ajayi, Managing Partner, Olaniwun Ajayi LP (27/7/21)(10:50 am)
Nigerians want peace, security and opportunities for all. Nigeria needs to focus on converting its huge youth population into an advantage and not a ticking time bomb, like China and India; Nigeria needs to invest in its youths.
Nnenna Elendu Ukeje, Former Member, House of Representative (27/7/21)(10:40 am)
Nigerians want a nation where they can aspire. People want a government, a good leadership selection process and they want their voices to be heard. They want different people in power who can represent them.
Pat Utomi, Founder, Centre for Values in Leadership (27/7/21)(10:30 am)
The Nigeria of my dream is a dignity driven entrepreneurial society, a nation where every citizen has worth. I dream of a nation where people who are in power build a lasting legacy and serve people and are not focused on revenue. This has not happened in recent times as systematic corruption is what drives people to take public offices.
Koyin Ajayi, Managing Partner, Olaniwun Ajayi LP
The Nigeria of my dreams is a nation where people are prosperous. One that can immediately take away anything that makes people suffer. We are all under the yoke of absolute mediocrity and selfishness. We need people who hold the elite and those in power accountable.
Laoye Jayeola, CEO, the Nigeria Economic Summit Group (12:10 pm)
Those of us who are in leadership now have to face the truth and be true and sincere on the challenges Nigeria is facing.
Sarah Omotunde Alade, Special Adviser to the President on Finance and the Economy (11:55 am)
One important thing that we must be able to do is policy continuity. Even when you start on the right path when you have a change in administration and it is a stop goal.
Sarah Omotunde Alade, Special Adviser to the President on Finance and the Economy (11:50 am)
We have a medium-term development agenda which we are working on that will run from 2021-2025. And in that five-year plan, a lot of these issues like poverty, insecurity, unemployment etc are taken into consideration.
Babagana Umaru Zulum, governor of Borno state (11:25)
We have to completely address the issue of framework, we don’t have a framework that is working now
Frank Nweke II, Senior Visiting Fellow, LBS (11:00)
At this point in time, whether it is among the political class, bureaucracies, parties, operators in the civic space or educational institutions, we must come together as a common front government.
Kayode Fayemi, governor of Ekiti state (10:42)
We have recorded a significant transformation in our tax system over the last decade. Total internally generated revenue for the 35 states have grown threefold from N401 billion in 2010 to N1.2 trillion last year except in 2015 when the country faced a recession, growth in IGR averaged around 12 percent annually.