Business
ON October 11, 2017, the Foundation for Partnership Initiatives in the Niger Delta, PIND, and the Market Development Project in the Niger Delta, MADE, teamed up with the Nigerian Economic Summit’s Sustainability Policy Commission to sponsor a breakout session at Transcorp Hilton in Abuja themed “Low Carbon Investment Opportunities for Economic Recovery and Growth Plan, ERGP, in Niger Delta Communities.”
This year’s edition of the annual Nigerian Economic Summit themed “Opportunities, Productivity, and Employment: Actualizing the Economic Recovery and Growth Plan” was a direct response to the Nigerian government’s plan to strengthen and diversify the Nigerian economy.
From each of the 10 policy breakout sessions came short, medium and long-term plans that could address the challenges on economic inclusion, access to capital, legislation, skills building, and local production.
The edition also marked the first time that the Nigerian Economic Summit would hold a session on Niger Delta development, a very critical area for the nation’s economy.
Besides, nearly 32 million Nigerians representing over 40 different ethnic groups live in the Niger Delta. Even though the oil-rich region is the source of 75% of Nigeria’s foreign exchange earnings, more than 70% of the population in the region live on an average of less than US$ 2 a day and are beset by diverse development challenges, making the Niger Delta one of the world’s leading development puzzles to be solved.
Indeed, the region’s importance has typically centred on oil but the sector provides only 0.01% of Nigeria’s total jobs. Agriculture, while still hampered by low productivity and land-based conflicts in the Niger Delta, remains a key sector for unlocking growth for both the region and the country as a whole, employing approximately 45% of the workforce.
“It is no coincidence that this panel is happening this year, following one of the worst economic recessions that Nigeria has seen,” Tunji Idowu, PIND’s deputy executive director, said. “The Nigerian government’s Economic Recovery and Growth Plan, ERGP, to put us back onto the path of sustained economic growth and presents a unique opportunity for non-oil sector development in the Niger Delta that both tackles youth restiveness and employment. We can only ensure the sustainability of the Nigerian economy by focusing on sectors with high-growth potential. That is why agriculture is so important.”
This breakout session, co-sponsored by PIND and MADE, took advantage of the national conversation on economic diversification (spurred by the ERGP) to drive attention to agricultural sectors in the Niger Delta with high-growth potential.
– Oct 17, 2017 @ 14:30 GMT
Tags: MADE Put Niger Delta Development in Focus at Nigerian Economic Summit Transcorp Hilton Tunji Idowu
