NSIA: Nigeria Sovereign Investment Authority’s Post

Nigeria truly needs a new development agenda

How significance or important is taking the Chairmanship in the SADC will bring to our country. Can we expect a huge change in the current disillusionment situations we are facing 🤔. SADC means-- Southern African Development Community (SADC) and is a Regional Economic Community comprising 16 Member States as follows: 1. Angola 2. Botswana 3. Comoros 4. DRC 5. Eswatini 6. Lesotho 7. Madagascar 8. Malawi 9. Mauritius 10. Mozambique 11. Namibia 12. Seychelles 13. South Africa 14. Tanzania 15. Zambia 16. Zimbabwe. THE OBJECTIVES OF SADC ARE: -to achieve economic development -to have peace and security -to alleviate poverty -to enhance the standard and quality of life of the peoples of Southern Africa. The last country to be admitted is Comoros in 2017 at the 37th SADC Summit in South Africa. Also the previous SADC Summit of Heads of States was held in Angola in 2023. Angola will hand over Chairmanship to Zimbabwe as President Lourenço will hand over to President Mnangagwa. Also President HH of Zambia will hand over the Troika Organ on Politics, Defence and Security Chairmanship to Her Excellency President Hassan of Tanzania. Lastly, Zimbabwe is one of the 9 founding members of SADC when it was called Southern African Development Coordination Conference (SADCC) in April 1980. It was changed from SADCC to SADC in August 1992, Namibia. Will this change the following things in our country: 1. Growth rate (GDP)/ Economic development. 2. STABILITY (Inflation rate). 3. Trade Balance/BOP. 4. Employment rate. 5. Political stability and social welfare. 6. And others

The Zambia Institute for Policy Analysis and Research's Executive Director, Dr. Herrick Mpuku, will be a key discussant on Day 2 of the Zambia Economic Growth Forum, particularly in Session IV: "Using Data for Policy". This pivotal session will delve into the transformative power of data in shaping policy decisions, showcasing real-world applications and the vital role of collaboration between researchers and government bodies. As well as, explore strategies for enhancing data collection and utilization, crucial for evidence-based governance and policy-making. Hosted by the Republic of #Zambia, the International Growth Centre, and the International Monetary Fund. Tune in for insights and updates: https://lnkd.in/dtB-YaQg #ZambiaEconomicGrowthForum #ZambiaEGF24 #DataForPolicy #EvidenceBasedDecisionMaking #ZIPAR #IGC #IMF #PolicyDevelopment

During President Nana Akufo-Addo's State of the Nation Address on Tuesday, 27th February 2024, it became evident that Ghana's economic journey is marked by strategic decisions aimed at long-term prosperity. The government's focus on restructuring debt and adhering to IMF conditions demonstrates a strong commitment to national recovery. This, coupled with the need to maintain a delicate balance between financial stability and the well-being of its citizens in the face of high inflation, showcases the complexities of economic governance. As we reflect on these developments, it's important to consider the implications for everyday Ghanaians and the broader African Continental Free Trade Area (AfCFTA) Secretariat vision. The nation's trajectory underlines the importance of inclusive growth and the potential benefits of collaborative efforts across the continent. Let's continue the conversation on how Ghana's economic strategies can serve as a blueprint for sustainable development within AfCFTA. #GhanaEconomy #StateOfTheNation #SustainableDevelopment #AfCFTA 🇬🇭✨🌐

On October 1st, 2024, Nigeria will mark 64 years of independence - a significant milestone that invites reflection on the nation's progress. While Nigeria has made strides in various sectors, its economic trajectory pales in comparison to that of China, which, despite facing its own set of challenges, has grown into one of the world largest economies. Join Prof. Osita Ogbu; Co-Chair of the National Advisory Council, NESG Faculty of Economists, Wilson Erumebor; Senior Economist, NESG and Solape Sonuga; Abuja Global Shaper and Director, Legislative Mentorship Initiative on Wednesday, October 2nd at 1pm as they delve into the factors that have fueled China’s growth and identify the gaps in Nigeria’s developmental strategy. The discussion will help identify the weaknesses in Nigeria’s governance and institutional frameworks that have hindered sustainable growth, offering insights into how these gaps can be addressed. Click https://lnkd.in/dqM9Kq_Y to be notified. #NES30 #Independence #NigeriaAt64

So much has been said and written about #AFCFTA. However, it is about time that we have a focus on how it’ll impact the continent’s largest economy (by GDP $477.38 billion). This is imperative given that previous attempts at regional integration have fallen flat due to the absence of an economic hegemon (I do not mean this in its strict sense of domination but as a rallying point). I share the conviction of many who hold the view that the success of AFCFTA is largely, not entirely, hinged on how it is embraced, driven and mediated by Nigeria. It is in this vein, that myself and Prof. Musa Ibori of the University of Abuja have written this article. It is our modest attempt yet, to provide a nuanced perspective on the promise and perils of the African Continental Free Trade Agreement on Nigeria. Results indicate that in line with Nigeria's economic development aspirations, the @AfCFTA will promote economic growth in addition to the push for competitiveness in a variety of local industries and the reduction of poverty. However, this study identifies significant vulnerabilities relating to economic hazards. Nigeria's current trajectory falls short of the requisite standards in terms of strategic policymaking to leverage on opportunities and reduce risks. This paper thus recommends evolving solution and international cooperation to enable AfCFTA catalyse development in Nigeria. AfCFTANG African Continental Free Trade Area (AfCFTA) Secretariat Ibori, Musa S. and Ogah, Elvis, African Continental Free Trade Agreement and Nigeria’s Developmental Aspirations: Exploring the Promise and Perils (January 3, 2024). Available at https://lnkd.in/eZcJeHaa.

💬💥 Crucial meeting in Abuja to discuss Nigeria's socio-economic challenges! 💪🇳🇬 Collective mobilization for sustainable and promising growth 💼🌱 #Nigeria #Economy #SustainableGrowth 🌍📈

Namibia understudies SIGA blueprint for SOE transformation In a quest to transform the operation modalities of State-Owned Enterprises (SOEs) in Namibia to become profitable, government has sent a delegation to Ghana to understudy the blueprint used in the transformation of the SOE sector. The delegation of 16 officials, drawn from different sectors of the Namibian economy, wants to understand the model deployed by the State Interests and Governance Authority (SIGA) that has delivered the tremendous transformation seen by Ghana’s SOEs within the past five years. https://lnkd.in/dEirQzyB

WHO WILL OPPOSE RESTRUCTURING BACK TO REGIONALIZATION Nigeria is a land of knowledgeable people where everyone seems to know what the challenges are however those who find themselves in the reins of authority often lack the courage to take the bull by the horns and drive the country to growth and stability. Almost every well meaning Nigerian agrees that the current structure upon which the nation stands is too shaky and unsustainable. The challenge becomes who has the courage as a leader to birth and drive the framework that will make Nigeria a great, stable and prosperous nation. Early history of Nigeria demonstrated that when the country witnessed tremendous development was when we had more powerful regional governments, each region developing at its pace and positively competitive. The unification of the country though may have been well intentioned has over the years resulted in a destabilized and unproductive nation. Nigeria holds a great promise if developed to lead Africa to the table of comity of nations globally. A developed and fully functional Nigeria will be a model for other black nations to copy from. At a recent event former President Olusegun Obasanjo toyed with the idea that African nations should begin to think of a homegrown system of government that suits the continent in line with her peculiar history, culture and environment. The time for African leaders and nations to get back to the drawing table and come up with a governance system that is fit for purpose is ripe. So who is afraid of going back to a more regional based government system. Managing a humongous nation with its growing diversity, intolerance and developmental needs seems too herculean and as many things begin to unfold, the capacity of the federal bureaucracy and government to deal with the myriads of issues confronting the country threatens the nation’s survival and development. From recent exploratory activities for resources from oil, gas, solid minerals, agriculture plus human capital resources, it is obvious that God was too benevolent to Nigeria as a geographical entity. It is very possible and obvious that each region has abundant resources and capacity to become a major global power in any chosen sector if well managed. This marriage therefore needs a thorough and honest renegotiation for the sanity and survival of her children. Every well meaning Nigeria who understands the value of development and what the country is losing with the current system must wake up to be counted to give a final push by joining the conversation for a restructured regional based governance framework that will guarantee equity, equality, stability and prosperity for Nigeria.

Participating in the Nigerian Economic Summit Group (NESG) Public Lecture and Founders' Forum, themed "In the National Interest: Reflecting on the Past, Reimagining the Future" at the Lagos Business School, Pan-Atlantic University, Lekki, marked an exhilarating start to May. As Nigeria's premier economic think-tank, NESG champions inclusive growth and development through research-driven advocacy. Engaging with stakeholders ranging from government officials to industry leaders, academics, and civil society representatives was a privilege, with the summit focused on devising strategies for sustainable economic transformation and inclusion. Governor Babajide Sanwo-Olu of Lagos State reiterated the government's dedication to fostering collaboration between the public and private sectors for the citizens' welfare. The summit's goals were clear: instill confidence in Nigeria's economy to spur job creation and economic growth, prioritize strategies to unlock untapped potential, and cultivate a people- and technology-centric approach to address emerging trends for inclusive and sustainable growth. Despite Nigeria's vast potential, it has faced economic turbulence exacerbated by global factors like the aftermath of Covid-19, the Russia-Ukraine conflict, and regional tensions in Gaza. Internally, macroeconomic volatility has compounded challenges, resulting in high levels of poverty, inflation, unemployment, and inequality. Additionally, infrastructure deficits, exchange rate fluctuations, mounting debt, and dwindling government revenue have further strained the economic landscape. #NES30 #NESG #LagosBusinessSchool #Nigeria