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Tuesday, October 02, 2018

New sources of economic strength for Nigeria tops WorldStage Summit'18 - ITREALMS

The WorldStage Economic Summit 2018 has said that top on its agenda for this year would be on  ‘New sources of economic strength to make the future happen’ reports ITREALMS.

Disclosing this to ITREALMS, the organisers through its President/CEO, World Stage Limited, Mr Segun Adeleye, said the summit has been confirmed to hold on Tuesday, October 23, 2018 at the Event Centre, Nigerian Stock Exchange, 2-4 Customs Street, Lagos, by 9.30 AM..

The organisers also said, the summit will attract participation from the Presidency, National Assembly, MGAs, State Governments, OPS- Oil and Gas, Banking, Insurance, Maritime, Aviation, Mining, Agriculture, Hospitality & Tourism, Entertainment, Construction, Power, ICT, Education, Transportation, Local and Foreign Investors, Media and other relevant stakeholders.

The #WorldStageEconomicSummit2018 will also include the presentation of awards to institutions in recognition of their significant contributions to the Nigerian economy in the last one year.

He noted that credit for economic growth and boom in the developed countries world over the years had been linked to strategic identification and development of their economic strengths while government played the pivotal role of motivating the private sector with incentives to achieve the common goals in most cases.

However, he said Nigeria has never at any particular period deliberately developed any area of her economic strength, rather it dumped the agriculture where it had comparative advantage when oil was discovered in the 1960(s) and since then economic development has been approached haphazardly.

“Notwithstanding that Nigeria has never at any particular period intentionally developed any area of economic strength, the dynamic nature of global interest could be a blessing if the country can identify and run with the right future to fast-track industrialization, just as the telecommunications sector broke all record of growth in the last decade,” he said.

In a global economy where tech companies like Microsoft, Google, Facebook are richer than all African countries put together, he said managers of the economy cannot continue to fake ignorance of the needful, that mineral resource will no longer be a major factor in future relevance and prosperity.

“Conscious of the growing population of Nigeria with about 50 per cent youth unemployment rate as a wakeup call, the last two editions of the WorldStage Economic Summit (2016 and 2017) looked at Addressing the unemployment crisis in Nigeria; and Transforming Business and Economy Through Innovation respectively,” he said.

“Going forward, the WorldStage Economic Summit 2018 will bring to the consciousness of stakeholders the need to be on the driver’s seat of the economy and transit to a future of knowledge, competitiveness and prosperity.

“To identify right sources of economic strength for Nigeria, WES 2018 will create opportunity for the policy makers and the private sector to match the potential in the economy with new development around the world that focuses on the shape of things to come.”

He listed the Sub-themes of WES 2018 to include Digital ecosystems to drive future growth; Developing the Agribusiness; The Blue Economy Option for Nigeria; The place of Artificial Intelligence in future growth; Blockchain Technology and the future; Science, Technology, Engineering and Mathematics (STEM) Education in Nigeria.

WorldStage Economic Summit is a global platform for addressing economic challenges through diagnoses and application of practicable solutions with public and private sector engagement in a research and innovation driven system to inspire new thinking in business operation, policy formulation/implementation, economic reform and development.

Ayo Midele/GEE

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