The Nigerian Economic Summit Group (NESG) has said that Africa’s path to economic transformation and resilience will be a focal point at the 30th Nigerian Economic Summit (NES #30), taking place from October 14th to 16th, 2024, in Abuja
According to a statement signed by the Acting Head, Strategic Communication & Advocacy of
NESG, Ayanyinka Ayanlowo, the summit will bring together policymakers, industry leaders, development partners, and global experts to address critical challenges that African economies face today.
Under the plenary session titled “Africa’s Economic Transformation and Resilience: The Next Priorities, hosted in partnership with the ONE Campaign, discussions will centre on the vulnerabilities African countries face due to geopolitical conflicts, trade tensions, tight financial conditions, and escalating climate-related risks.
These factors, according to the statement, have exacerbated liquidity issues, increased macroeconomic instability, and contributed to the continent’s growing debt burden.
The statement further stated that in response to these challenges, there is an urgent call for reforms in the global financial architecture to enable African economies to unlock financing for sustainable development.
These reforms will be key to achieving the continent’s long-term goals of economic transformation and resilience.
“The plenary session will explore strategies that African countries can adopt in navigating the complex environment while strengthening their economic prospects.
“Examples from other regions will highlight the path forward for Africa. For instance, Rwanda’s transformation over the past decade through strategic public investment and robust governance will be discussed as a model for fostering economic resilience.
“Similarly, Ghana’s economic diversification efforts in agriculture, technology, and industry hope to demonstrate how an economy can thrive by reducing its dependence on commodity exports. These case studies provide insight into the potential of African economies to rise above their challenges.
“NES #30, themed “Collaborative Action for Growth, Competitiveness, and Stability,” underscores the importance of collective efforts to promote sustainable economic progress in Africa.
“Leaders will discuss how regional collaboration, coupled with innovative policy measures, can pave the way for a more competitive and unified Africa. As Nigeria leads the charge, the summit will serve as a platform to engage on the continent’s shared goals and aspirations,” NESG added.
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