LIVE BLOG: #NESG summit on Made in Nigeria


The Made In Nigeria summit of the National Economic Summit Group has commenced in Abuja.

President Muhammadu Buhari and the Minister of Budget and Planning, Udoma Udoma, are at the opening ceremony.

Follow our live blog below:

An Economist, Doyin Salami speaks:

“One area where I think the government is doing itself a bad service is that it doesn’t communicate well.”

Mr. Salami says government needs a comprehensive development plan.

11.13: Investors have to be encouraged, Mr. Salami says.

11.14: Four short term actions:

Get confidence of investors

Articulation of development plan

Fiscal and monetary policies must complement each other.

Public procurement of made in Nigeria goods must become operational. The percentage of Made in Nigeria in government capital expenditure should be made clear.

11.17: Doyin Salami completes his speech, saying the current state of the economy provides a platform for us to move forward if we want to.

11.18: President Muhammadu Buhari now to speak and declare #NESG #NES22 open.

11.20: The NESG has over the years strengthened the relationship between the public and private sectors – President Buhari

11.21: “We need to diversify the economy so that we can produce the food we eat, make our own textiles, produce most of the things we use and create the right environment” for our youth to create jobs through ICT.

11.24: “My greatest desire is that Nigeria moves from import dependence to self sufficiency in local production and become an export economy in goods and services.”

11.27: First policy dialogue to be led by Vice President Yemi Osinbajo to commence in 15 minutes as attendees go for a tea break.

12.20: NESG summit reconvenes after the tea break.

Attendees recite the National Anthem.

12.26: Vice President Yemi Osinbajo leads a panel of three ministers to discuss the economy.

The ministers are: The Minister of Industry, Trade and Investment, Okechukwu Enelamah; Minister of Solid Minerals, Kayode Fayemi; as well as Budget and National Planning Minister, Udoma Udoma.

12.27: Why should Nigerians trust this government to diversify? Mr. Osinbajo is asked.

“We have no choice,” he answers based on the condition we’ve found ourselves.

12.28: We are investing heavily in rice production in 12 major rice producing states – Osinbajo

12.30: “The whole agro-allied value chain is one that is just waiting to happen” – Osinbajo

12.30: Nigeria is looking to process and export shea butter, Mr. Osinbajo says

12.34: Our Strategic Implementation Plan is online and has clear objectives, Mr. Osinbajo said.

12.37: I think in particular, we are doing a lot in communication of our agriculture policies – Osinbajo

12.38: You may not immediately be able to feel the impact of these polices – Osinbajo says on government’s various programmes.

12.43: For me I know the responsibilities we carry – Okechukwu Enelamah, investment minister

12.44: President issued a directive that there should be a ministerial council to deal with complaints to make it easy to do business. The council is headed by the vice president – Mr. Enelamah

12.45: The inter-ministerial council on ease of doing business has met at least twice – Enelamah

12.48: I think these polices will take time to work, but I have no doubt that they will come to fruition, Enelamah on making it easy for businesses to thrive.

12.52: “We are not where we want to be, but we are not where we used to be,” Mr. Enelamah on how it is now easier to register businesses in Nigeria.

12.54: N350 billion is what we expect to recover as corruption proceeds.We have not been able to recover all that in cash – Osinbajo says on recovered corruption funds.

12.55: Every single thing that we are doing is contained in the Strategic Implementation Plan of the 2016 budget – Mr. Udoma, budget minister

13.00: “We are going to much more aggressively put out what we are doing. Because this government is committed,” Mr. Udoma

13.01: We want (Nigeria) to be self-sufficient in rice in 2018, in wheat in 2019, Mr. Udoma says on the content of the Strategic Implementation Plan.

13.04: “As of half year, we got a little over 55% of what we were expecting to get (as income) – Budget Minister Udoma on state of 2016 budget

13.06: We accumulated huge amount of debts over the past 3 to 4 years that we are trying to deal with – Budget Minister

13.07: Budget Minister Udoma could not give a specific figure on how much Nigeria’s debt is. He says a lot of reconciliation is being done in various ministries.

13.10: Nigeria has 44 odd minerals, but not all of them are in commercial quantity – Solid Minerals Minister Kayode Fayemi

13.13: Now, we are not only self sufficient in limestone production, we are a net exporter – Mr. Fayemi

13.14: Unfortunately, mining is not one of those quick win sectors, Mr. Fayemi says on the pace of work in the solid minerals sector.

13.16: Before the end of this administration, Nigerians should expect us to transform our bitumen into asphalt production for road construction – Mr. Fayemi.

13.18: Rail transportation: We think it is important to really invest in rails. One of the reasons our roads are bad is because we are transporting very heavy products on them instead of on rails – VP Osinbajo

13.26: Members of the audience are now asking questions from the VP and other ministers.

13.48: Mr. Enelamah asks the private sector to have faith in the policies of the government.

We are suspending our live blog of the NESG Made In Nigeria summit due to technical reasons from the venue of the event.

We apologise for any inconvenience caused our readers.

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  • dike offor

    Good move PMB

  • George

    Dead on arrival

  • systematic

    very good mr president

    • Burning Spear

      We have been holding these fake economic summits since 19160–right from the era of Fulani Balewa to another Fulani Shagari whom Buhari overthrew———————-down to the era of Late Fulani Yara Adua———————————–that is after the luciferic rule of Ibb a semi Fulani man and the Kanuri monster Abacha————whom Buhari another Fulani rogue served with all his dirty regional jihadist heart—–from Niger Republic——————Nigerians are just going round in circles–All we have been hearing since 1960 are fabus like ( we now have rice farms————we are going to export Shea Butter——to Ghana——when Ghana has the largest concentration of Shea butter farms around Africa——–Soon Katsina state will begin to manufacture Helicopter pads-for South Africa with Aisha Buhari as the CEO——————–lies———Until the arrival of Jonathan————-Over a years after his departure——it has been one lie after the other—–from Bingo Buhari———–while Nigerians die daily as if they were affected by the Hiroshima bomb—also—-The truth is Buhari and the Apes in APC have no clear agenda on how to move the nation forward—————That is why they have decided to rent trolles to post childish comments on the web to deceive and re-deceive Nigerians daily———-Separation is the only way–out—Any economic system that has no clear set goals and objectives is bound to fail———Aware–we do not have continuity in our system—-since 1960–it has been cut and nail by a group of Agberos and Apes in APC—–from the South West ati the Fulani north and-the–far east—————–Now tutored to send text messages to Nigerians abroad to pray for the country—-I laugh–were these same people not laughing at Jonathan when he called for prayers for the Nation?

      • Hank

        Jonathan, PhD….and Commander in chief of the Nigerian armed forces for five years, but could not protect the people and could not protect the revenue of Nigeria. People spending the Country’s money Yan fu Yan fu and criminals everywhere kidnapping people and PhD Jonathan did nothing.

      • systematic

        what are u saying? is like u drink alcohol sorry for u, i dont have time for people like u dronkers

  • vagabonds in power

    It is therefore shocking and saddening that the messy situation that Nigeria finds itself today, which is getting messier day in day out, originates from the foregoing. It will forever remain an indisputable theory in the world of sciences that something can never be derived from nothing. For no matter how brilliant a first school leaving certificate holder or secondary school attendee is, he or she can never conduct academic teachings in the university; and no matter how spiritually gifted a first school leaving certificate holder pastor is, he or she can never climb beyond the first step of a ladder in the Christendom. Where academic discrepancies exist at the altar of leadership, it is either enslavement or conflict or both with end-product being quackery or neo-quackery. As we now see in the draconian rule of Bingo Buhari-

  • Burning Spear

    The raging regime atrocities of the Bingo Buhari Administration would not have found their roots in the history of the country again if Nigeria’s Mainstream Civil Society Community of Southwest or Lagos extraction; oiled by some of the country’s leading tainted personalities from the Fulani Nortth–and South East ati Delta axis of the South south zone, had not conspired to impose the present demo-dictatorship on Nigerians. It is extremely important, therefore, to remind all and sundry that the present demo-dictatorship ravaging Nigeria is as a result of conspiratorial roles of Lagos Politics, Nigerian Mainstream CSOs (i.e. rights groups, rights activists, activist lawyers, activist professors, activist professional bodies and industrial unions), Mainstream Print and Audio-Visual Media and a handful of leading online media———etc–Sahara Reporters and Premium Timers among others–such as Punch—and Vanguard. Had not allowed themselves to be used by the CIA to Impose Buhari on us—

  • NinjaK

    Buy Made-In-Nigeria…… with a President…..
    1. With a President that got a Foreign Professor to write his biography?
    2. With a President who has sent Five of his children to British Schools?
    3. With a President who wears expensive Foreign-made shoes?
    4. With a President whose wife carries & flaunts foreign-made wristwatches and bags?
    5. With a President who shouts “diversification diversification” but makes Lake Chad Oil discovery a National Priority?
    Change Begins With Me….and YOU Sir!