Participants at the13th Nigerian Economic Summit (NES), held in Abuja rose weekend with a  consensus that the nation’s economy must grow to between $800 billion and $900 billion with a  minimum average annual GDP growth rate of 13-15 per cent if the country must rank among the 20  largest economies in the world by 2020.

Participants after the three-day summit, also called on government to sustain and expand its engagements at the sub-regional, regional and global arena, if there must be consolidation of Nigeria’s leadership role in Africa as well as extend her influence on the global level.
Presenting the communique, after the summit, held at the Transcorp Hilton Hotel, Abuja with well over 800 participants in attendance, Senator Chris Anyanwu and Foluso Philips said the participants also agreed that issues of education, health and energy must be addressed in a holistic manner with 100 per cent enrolment into primary schools and the immediate implementation of the 10-year educational plan.

According to the communique, life expectancy index in Nigeria must rise from 46 to over 70 years, improved infant mortality as well as improved maternal mortality in the area of health by 2010, adding that the nation should be able to deliver 13,500MW of power, conclude and implement the gas policy at that date.

In the area of transport, participants at the summit with theme: “Nigeria: Positioning for the  Top 20 League,” agreed that government must conclude a 100 per cent rehabilitation of roads at  all levels, construct the East-West Rail Line and open up the Inland Waterways as well as the  establishment of Infrastructure Concession Regulatory Commission.

They further said that security of life and property must be given priority attention as well as the strengthening of institutions of representative democracy and improvement of access and speed to justice.

Earlier in his presentation, Minister of Finance, Dr. Shamsudeen Usman said there was need for all government agencies to achieve revenue targets to create an enabling environment for the Federal Government to meet its obligation to the citizenry.

According to him, there were noticeable increase in overhead budget due to lack of due process in  recurrent spending, adding that contingent liabilities crystallize severance benefits from Power  Holding Company of Nigeria (PHCN) and other privatised federal holdings in companies.

Source: Vanguard