22nd Nigerian Economic Summit Focuses on Promoting "Made in Nigeria"

Ever since the 1^st  Nigeria Economic Summit in 1993, a lot of economic  issues have been discussed and tabled with a lot swept under the rung, however the 22^nd Economic Summit, 2016 opened up with intense heat and serious talks on pushing and supporting “Made-in Nigeria” products and services, which also happens to be the theme of the summit.

The Chairman, Nigeria Economic Summit Group (NESG) Board Committee, Adedoyin Salami, made the call on Monday in Abuja at the opening of the 22nd edition of the Nigeria Economic Summit (NES 22).
“If ‘made-in-Nigeria’ must succeed, it should not be the challenge of the federal government alone. All the 36 states of the federation and the Federal Capital territory (FCT) must have a role to play,”
Salami called on deliberate diversion and shift of Nigerian economic dependence on oil, stressing that the over dependence on the oil sector has dealt a major blow on current economic state. He also called to the Board’s attention that Nigerian biggest customers in oil are already producing shale oil and in some cases searching for alternative solution to oil , he said “The dynamics of oil has changed, with the production of shale oil. The cost of producing shale oil imposes a cap on oil prices, with 72 countries in the world potentially capable of producing shale oil, with Nigeria’s key customers, United States and China already producing shale oil or looking for alternatives to our oil,”
He also stressed on the importance of making the private sector stronger as it will incredibly woo foreign investors.
In addition The Minister of Budget and National Planning, Udoma Udoma, subscribed to the idea of government supporting private sector and informed that the current government has already taken steps toward that. He said “As a Government we have taken steps to encourage our officials to buy made in Nigeria products. We have also been working with the private Sector and other related stakeholders to encourage more consumption of Made in Nigeria goods and services. We believe that with more patronage, Nigerian producers will be encouraged to improve on quality and create jobs for our teeming youth.”
The NES summit will commence its day two sessions focused on the ICT, Small and Medium Enterprises, Micro Credit, services and finance.