Report-on-the-Sixteenth-Nigerian-Economic-Summit-2010

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The Nigerian government can, by creating the right conditions for investment and development, encourage innovation as a means of expanding economic activity. Governments cannot complete an innovation strategy on their own; national innovation efforts are designed to feed into the corporate system and encourage commercial transformation, job creation and improved economic performance. Innovation must therefore, be a priority for companies as well as the government. There is also the urgent need to encourage researchers to examine topics that are of relevance to the society in which they live and work. We can learn from our mistakes of the past and be ready to live out our Vision 20: 2020. Panelists’ Contributions Alhaji Tandama acknowledged the quality of presentation and said “it provided food-for- thought and a strong foundation in scientific development.” He added that Nigeria recently began to address problems in laying a strong foundation in Science and Technology that could have been resolved earlier. He also questioned whether there was synergy between the Federal Ministry of science and technology and other ministries, given the important role that technology played in today’s world. He lamented the failure to capitalize on scientific breakthroughs and achievements within the country through inadequate support of local industries and inventors. Gerald IIukwe began with a discussion of the role of Galaxy Nigeria Limited as the backbone of Government information technology systems, an improvement on the previous state of disparate systems in government offices. He noted that there was a lack of proper definition within the community, as major activities were grouped under communication without recognition of information technology activities. He acknowledged the validity of the points highlighted in the presentation and the role of innovation in Nigeria, and observed that changes were necessary to foster new developments in science and technology in Nigeria. He added that such inventions must have a business case that supported the commercial viability and high standards before approaching investors and government for support. He also decried the Nigerian Economic Summit 107
situation where government agencies awarded most of the contracts in information technology to foreign companies. Biyi Fashoyin agreed with Gerald IIukwe on the definition of activities within the information communication technology community. He said there was lack of proactive actions in the IT industry, as there was no stakeholders’ forum presenting industry issues to the Government. He also questioned why the Government had not encouraged the private sector to promote its products by acquiring ‘made in Nigeria’ goods. Comments from Participants The lack of dedication to research and development in the country, underlined by inadequate funding is worrisome. Nigeria might face generational gap and likely skills shortage in the science and technology field, because of the low quality of the education system in the country. There is need to encourage the citizenry to buy Nigerian products. There is need to create a culture oriented towards values akin to those formulated in Singapore, which underlined principles essential to developing a better society, responsive to the needs of its citizens. The major issue with science and technology in Nigeria was implementing the policies in existence, because of the lack of proper indicators to monitor and evaluate these policies. What is the rationale behind Vision 20:2020? Lets not imagined those countries already within target bracket were not themselves making plans to move ahead. He added that Nigeria should change focus and begin to harness its scientific potential, rather than rely on natural resources, to the detriment of the environment. He also decried the lack of mandatory investment in research & development activities by major players in the private sector, and mentioned the need to cultivate a relationship of collaboration between the universities and the private sector. Had Nigerians considered formulating similar measures to those by the Asian Tigers before development? Such a step is essential to the country’s development. To develop the sector, government needs to: 108 Nigerian Economic Summit
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Report on the Sixt
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CONTENTS Pages Introduction 7 SECTI
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INTRODUCTION Since 1993, the NESG h
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Awaken critical consciousness of ci
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DAY 1 TUESDAY, 19TH OCTOBER, 2010 P
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In 1967, the civil war broke in. Ab
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PLENARY I PRESIDENTIAL POLICY DIALO
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involvement in achieving the Vision
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We need to go back and ensure that
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Mazi Ohuabunwa: We must have a stro
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PLENARY II: STEWARDSHIP OF THE NIGE
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that more investment was needed to
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must play at every step; Sought to
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government had initiated robust pol
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PLENARY lll: LEGISLATORS’ ROUNDTA
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i. Bridging the infrastructure gap
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Ensuring substantial improvement in
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Addressing infrastructural gaps and
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20:2020. However, very few people o
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Conclusion We need a more critical
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the growth in their flagship operat
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Interactive Breakfast Session on th
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Review of electoral laws to ensure
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Moderator: What can the citizens or
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PLENARY IV: CEOs’ FORUM CORPORATE
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Shareholders: The majority of share
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It offers the opportunity of constr
Page 56 and 57: New and prospective entrepreneurs/d
Page 58 and 59: PLENARY V: EMERGING LEADERS’ FORU
Page 60 and 61: Mr. Sotiloye further highlighted th
Page 62 and 63: There is a need to apportion necess
Page 64 and 65: There should be a change in mindset
Page 66 and 67: Introduction of SIFE by Michael Aja
Page 68 and 69: the present Summit gave indications
Page 70 and 71: OIL AND GAS LEVERAGING THE REFORMS
Page 72 and 73: New two-tier royalties were general
Page 74 and 75: these investments and encourage our
Page 76 and 77: HUMAN CAPITAL DEVELOPMENT DEVELOPIN
Page 78 and 79: Absence of social infrastructure to
Page 80 and 81: Dr. Leke Oshunniyi spoke on behalf
Page 82 and 83: aimed at developing the skills that
Page 84 and 85: INFRASTRUCTURE CLOSING NIGERIA’S
Page 86 and 87: acking. The State currently had abo
Page 88 and 89: as a deterrent to private sector in
Page 90 and 91: Proper procedure for the operation
Page 92 and 93: REAL SECTOR AND SERVICES FUNDING TH
Page 94 and 95: Funding the Growth and Expansion of
Page 96 and 97: development funds in the following
Page 98 and 99: ecently by the federal government,
Page 100 and 101: sum of N200 million had been given
Page 102 and 103: Since access to land is access-to-c
Page 104 and 105: evolutionary course of development.
Page 108 and 109: Establish a commission on Informati
Page 110 and 111: GOVERNANCE AND INSTITUTIONS CIVIL S
Page 112 and 113: implementing them. It was after all
Page 114 and 115: There was need to professionalize c
Page 116 and 117: TRADE, INVESTMENT AND COMPETITIVENE
Page 118 and 119: market on one hand and low income l
Page 120 and 121: Taxation Regime: The dividend polic
Page 122 and 123: AGRICULTURE AND FOOD SECURITY CREAT
Page 124 and 125: Establishment of integrated farms a
Page 126 and 127: Expand raw material base. Put effi
Page 128 and 129: THURSDAY, OCTOBER 21, 2010 PLENARY
Page 130 and 131: Sanusi Lamido: AMCON will issue bon
Page 132 and 133: Sanusi Lamido: I do not have the sa
Page 134 and 135: Fola Daniel: Awareness is crucial.
Page 136 and 137: SUMMIT CLOSING CEREMONY Preamble Th
Page 138 and 139: Promote values-based ideologies Ed
Page 140 and 141: Mazi Sam Ohuabunwa appreciated the
Page 142 and 143: APPENDICES Programme of Events Spee
Page 144 and 145: Session Moderators Charles Aniagolu
Page 146 and 147: WEDNESDAY, 20 TH OCTOBER, 2010 (DAY
Page 148 and 149: Panelists Mr. Andrew Fawthrop, Mana
Page 150 and 151: Chairman Dr. Kalu Idika Kalu, Forme
Page 152 and 153: Mr. William Johnson, (Rep. the Mana
Page 154 and 155: Presentation of Summit Repo
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system, focused and disciplined inv
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Appendix C: Speakers & Technical Su
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90 Mr. Aderemi Raji-Awe Comp. Prof.
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34 Boardman Kenneth Business Sch. S
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Oil and Gas S/N Title Surname First
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Real Sector and Services S/No Title
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11. Dr. Adegoroye Goke GSDI, Ltd Ab
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60 Ashiru Bimbola Director Stanbic
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Appendix E: List of Delegates S/N T
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94. Mr Ataisi F. M. Executive Direc
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192. Mr. Faulkner Dipo Director Acc
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291. Mr Mohinani Anil Managing Dire
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408. Olayinka Toyosi Analyst BGL Pl
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514. Barr. Umoh G. Achibong Hon. Co
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29 Onasanya O. Olajuwon Principal C
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41. Mr Ehichanya Franklin Uzoma Hea
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18. Cameron Toyin Nigeria South Afr
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Appendix I: Acronyms ACGS Agricultu
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ICASA International Conference on A
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NIPC Nigerian Investment Promotions
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UNCTAD United Nations Conference on
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