As the Nigerian Economic Group (NESG) opens its 28th summit in Abuja on Monday, the group’s chairman, Mr Asue Ighodalo, has stepped down.
Mr Ighodalo said his decision was in keeping with the
group’s long tradition and also announced the erstwhile first vice-chairman, Mr
Niyi Yusuf, as the new chairman.
“Having served two terms of two years each, and in keeping
with our almost three decades tradition of seamless governance transition, at
the end of this summit, I step down as chairman,” Mr Ighodalo explained.
Accordingly, at our last NESG board meeting, Mr Yusuf, who
served as my first vice-chairman, was elected to succeed me as chairman.
“Niyi, the managing director of Verraki Africa, is one of
the distinguished global leaders at the NESG and has served practically all
“paying to serve” roles for over more than a decade,” he said.
Mr Ighodalo said Osagie Okunbor would assist the new chairman
as first vice-chairman, Boye Okunsanya as second vice-chairman and Amina Maina
as third vice-chairman.
“It has been my pleasure, privilege and honour to serve as
the chairman of the NESG,” he said.
Mr Ighodalo called for transforming the Nigerian economy
into “the complete opposite of what it is today.”
He called on leaders to concern themselves with how to grow
the economy to about 20 times its present size.
“Successful national turnarounds start first with addressing
basic internal problems and fixing them, and then settling the country’s sights
on externally driven growth possibilities,” he stated. “We must start by
achieving macroeconomic stability as this is the foundation of economic
growth.”
According to him, our economic competitiveness is weak.
“Simply put, we do not produce enough for ourselves and
cannot produce for the world. We must take active steps to multiply our
productive output, particularly in those areas that support foreign exchange
earnings and enhance livelihoods,” said the NESG chair.
Mr Ighodalo called for effective steps to address all areas
of waste, leakage, theft and graft, adding that gas flaring must stop.
“Only a nation that does not take itself seriously will cry
out year after year for power but continue to fritter away a resource that can
deliver that power,” added Mr Ighodalo. “We must think through ingenious ways
of fixing and strengthening our institutions, paying particular attention to
our civil service and judiciary, and changing the attitude and temperament of
those who work in those institutions.”
He urged the government to tackle national security issues
with renewed vigour, noting that “a prosperous Nigeria cannot be created
without decisively dealing with our security problems.”