NESG Radio

The Nigerian Economic Summit Group (NESG) and Stanbic IBTC released the March 2025 edition of the monthly Business Confidence Monitor Report. This report provides vital insights into the current business climate in Nigeria, including the levels of optimism, challenges, and economic indicators influencing business operations. As a key gauge of the private sector's perception of the economy, the Business Confidence Monitor offers an invaluable lens through which businesses, policymakers, and investors can assess current conditions and anticipate future trends. Businesses in Nigeria reported a sustained positive business for the third consecutive month in 2025, signalling favourable business conditions in the year. As a result, the current Business Performance Index for March 2025 stands at +6.58, a weakly positive business performance and a slight decline compared to +11.50 points in February 2025. Although not the top challenge this month, the high cost of commercial lease/rental property remains among the top three business challenges in the last two months. Other top-ranking business challenges include inadequate power supply, limited access to financing, and economic uncertainties.

In alignment with the World Health Day 2025 theme—Healthy Beginnings, Hopeful Futures—our new podcast episode, Healthy Beginnings, Hopeful Futures: Ending Preventable Maternal and Newborn Deaths, is now live! Tune in as we spotlight the urgent need for governments and the global health community to intensify efforts to end preventable maternal and newborn deaths while prioritising women's long-term health and well-being.

With Africa's energy transition in full swing, strategic alliances are more important than ever. How can Belgium's expertise and investments shape Nigeria's energy landscape? What opportunities and challenges lie ahead? Join Francis Jakpor as he speaks with Thomas De Beule, Head of the Bilateral Section for Nigeria at the Chamber of Commerce, Industry, and Agriculture for Belgium, Luxembourg, Africa, the Caribbean, and the Pacific. The insights could redefine energy collaboration—don't miss it!

The 2025 World Water Day focuses on Glacier Preservation, highlighting the urgent need to protect the world's glaciers, which are melting at an alarming rate due to climate change. Glaciers serve as critical freshwater reserves, regulating water availability for millions of people and supporting ecosystems worldwide. They play critical role in sustaining water supplies and maintaining ecosystem stability. However, glaciers are melting faster than ever due to climate change, leading to unpredictable water cycles and extreme events such as floods, droughts, and sea-level rise. The rapid loss of glaciers also disrupts water cycles, increases natural disasters, and threatens water security globally Consequently, the 2025 observance emphasizes the urgent need for global action to manage meltwater sustainably, reduce greenhouse gas emissions, ensure long-term water security, reduce climate risks, and preserve natural ecosystems – aiming to protect communities and ecosystems dependent on these vital water resources. On this episode of #NESGRadio, we discussed the topic of World Water Day with Engineer Ekanem and Pedi Obani, PhD.

In this special edition of the NESG podcast, we explore the critical role of the Nigerian Economic Summit Group (NESG) in accelerating action toward gender-inclusive growth in Nigeria. As Africa's leading think tank, NESG has been at the forefront of economic transformation for over 30 years, driving strategic reforms, policy advocacy, and institutional strengthening. This episode highlights NESG's efforts in championing gender inclusivity across key sectors, focusing on:

The Nigerian Meteorological Agency has issued a heat stress warning following a surge in temperatures across the country, with several states experiencing extreme heat conditions. This podcast aims to delve into the underlying causes of heatwaves, their connection to climate change, and practical steps individuals and communities can take to mitigate their effects. Abbas Agbaje provides expert insights and guidance on understanding climate change in the Nigerian context and offers actionable advice on how listeners can adapt to and cope with rising temperatures.

Can Nigeria Reverse Its Carbon Footprint? Fossil fuels power our economy, but at what cost? Engr. Chibueze Ekeh, CEO of CEESOLAR Energy Limited, joins Francis Jakpor, ANIPR to discuss Nigeria's clean #energytransition and the road to net zero by 2060.

The 2025 Macroeconomic Outlook by the Nigerian Economic Summit Group (NESG), themed "Stabilisation in Transition: Rethinking Reform Strategies for 2025 and Beyond," offers a roadmap for navigating Nigeria's economic landscape amidst shifting global and local dynamics. This podcast aims to dissect the report, engaging experts to explore the key takeaways, opportunities, and challenges for stakeholders across sectors.

In 2025, millions of rural Nigerians still lack reliable electricity, limiting growth and development opportunities. But clean energy solutions such as mini-grids are transforming the landscape. In this interview with Sheriff Aderibigbe, the Managing Director of Nigeria's Rural Electrification Agency (REA), Mr Abba Abubakar Aliyu, shares how the Agency is combating energy poverty and unlocking the potential of rural communities across the country. Discover how innovation is lighting the way to a brighter future!

Despite the Abuja Electricity Distribution Company's (AEDC) strides in upgrading power infrastructure and sensitising customers, frequent outages continue to affect businesses and daily life in the FCT. Why does this persist? AEDC MD, Chijioke Okwuokenye, sits with Francis Jakpor to uncover the challenges and chart a path towards sustainable electricity supply for Abuja.

The International Day of Clean Energy serves as a global platform to emphasise the critical role of clean energy in combating climate change, fostering sustainable development, and improving energy access. As the world faces the dual challenges of environmental degradation and energy poverty, transitioning to clean and renewable energy sources has become a top priority. This year's observance comes at a pivotal time when technological advancements, policy initiatives, and grassroots movements are driving progress, yet significant barriers remain. In Nigeria, the clean energy landscape presents both opportunities and hurdles. While renewable energy sources such as solar, wind, and hydro hold immense potential, issues like inadequate infrastructure, limited financing options, and policy gaps often impede progress. Moreover, public awareness about the benefits of clean energy and its role in building a sustainable future remains relatively low. This conversation aims to highlight the importance of clean energy, discuss actionable solutions to existing challenges, and inspire listeners to participate in the global clean energy transition. By engaging experts, we hope to foster a meaningful dialogue that drives awareness and action.

The 2025 International Day of Education, under the theme “AI and Education: Preserving Human Agency in a World of Automation,” focuses on the intersection of education and technological advancement. This year's observance highlights the transformative power of education in equipping individuals and communities with the tools to navigate, understand, and shape a rapidly evolving digital landscape dominated by artificial intelligence (AI) and automation. As AI-driven systems become increasingly integrated into daily life, questions arise about the balance between human agency and machine-driven decision-making. The theme encourages reflection on how education can preserve and redefine human intention and creativity in the face of technological acceleration. Education plays a critical role in fostering the skills and values necessary to adapt to these changes. Beyond technical expertise, it must also instill critical thinking, ethical reasoning, and adaptability, ensuring that technology serves humanity rather than diminishes it. This International Day of Education provides an opportunity to celebrate achievements in global education while advocating for the reforms needed to ensure education systems remain relevant and inclusive in the digital age. It calls for policymakers, educators, and communities to work together to create a future where education not only prepares individuals for an AI-driven world but also empowers them to maintain agency and humanity within it.

International Volunteer Day is celebrated globally on December 5 to recognise and appreciate the invaluable work of volunteers across the globe. The International Volunteer Day highlights the contributions of volunteers in addressing societal challenges, promoting peace and sustainable development, and advancing human rights. The theme for 2024 is “Volunteer for an Inclusive Future," which aligns with the mission of the Nigerian Economic Summit Group (NESG), which is focused on promoting and championing the reform of the Nigerian economy into an open, inclusive, sustainable, and globally competitive economy. The NESG works with volunteers who are experts across the different sectors of the economy to achieve this mission. At the core of the NESG's operations is the recognition of the immense value that volunteers bring to the organisation and its mission. Volunteerism plays a vital role in supporting the NESG's activities, as volunteers contribute their time, skills, and expertise to advance the organisation's goals. By engaging volunteers, the NESG taps into a diverse pool of talent, fosters innovation, and strengthens its capacity to drive meaningful change in Nigeria's economic landscape. This podcast seeks to celebrate the impact of the NESG volunteer workforce over the last three decades.

The Nigerian Economic Summit Group (NESG) and Stanbic IBTC have released the latest edition of their monthly Business Confidence Monitor Report. This report provides vital insights into the current business climate in Nigeria, including the levels of optimism, challenges, and economic indicators influencing business operations. As a key gauge of the private sector's perception of the economy, the Business Confidence Monitor offers an invaluable lens through which businesses, policymakers, and investors can assess current conditions and anticipate future trends.

The 30th Nigerian Economic Summit (NES #30) Art Competition aimed at celebrating the creativity and diversity of emerging Nigerian artists. Organised by the Nigerian Economic Summit Group (NESG) in collaboration with the Africa Art Fund, the competition provided a platform for artists under the age of 35 to showcase their artistic talents. Participants were encouraged to explore themes of collaborative design and sustainable economic development, offering their unique vision for Nigeria's future through various forms of artistic expression. The competition welcomed submissions across a wide range of media, including painting, drawing, sculpture, mixed media, and more. This inclusivity allowed artists from different backgrounds and skill sets to participate, with a focus on fostering creativity and dialogue about nation-building through art. The podcast seeks to highlight the different stages of the competition, the creative process behind the winning submissions and overall relevance of the competition to the goals of the summit.

The 30th Nigerian Economic Summit essay competition, themed "Collaborative Action for Growth, Competitiveness, and Stability," aimed at engaging undergraduates in critical discussions about Nigeria's economic future. It provided a platform for young minds to present innovative ideas on how collaboration across various sectors could drive economic growth, improve competitiveness, and ensure stability. The competition attracted over 300 submissions from students across the country, showcasing diverse perspectives on addressing the nation's challenges. After a rigorous review process, three winners emerged, each presenting insightful and well-researched essays that proposed practical solutions for Nigeria's economic progress. Their essays highlighted the importance of partnerships between the public and private sectors, youth engagement, and strategic reforms. The winners were featured in a podcast to discuss their creative processes, the challenges they faced, and their visions for Nigeria's future. The competition not only encouraged academic excellence but also fostered critical thinking on national development.

Nigeria's energy transition plan is a critical part of its commitment to sustainable development and climate action, as it outlines Nigeria's ambitious pathway towards achieving net-zero emissions by 2060. Launched in August 2022 by Vice President Prof. Yemi Osinbajo, it focuses on expanding renewable energy, reducing dependence on fossil fuels, and increasing energy access for its rapidly growing population. The COP29 theme, “In Solidarity for a Green World,” underscores the need for global cooperation, equity, and support for countries like Nigeria, which are navigating the dual challenges of energy access and climate mitigation. This theme emphasises the need for a united front in addressing climate change, with particular attention to equity and solidarity. For Nigeria, this means leveraging international partnerships, technology transfer, and climate finance to accelerate its transition towards cleaner energy sources. This podcast explores the country's journey, challenges, opportunities, and the role of international collaboration in achieving a greener future. It will also discuss how Nigeria's plan aligns with the broader objectives of COP29, including global decarbonisation efforts and supporting developing countries in their transition to sustainable energy.

The NESG Academy was established to empower citizens with the knowledge needed to understand their roles, rights, and responsibilities for informed participation in governance. It aims to instill the right values for responsible citizenship, ensuring that citizens are actively engaged in civic and political processes to enhance their democratic well-being. We are excited to have the Head, Workforce Management and Academy at the NESG, Gbemi Ibrahim, join us on NESG Radio to discuss the fundamental principles and components of the NESG Academy.

International Literacy Day 2024 emphasizes the theme of "Promoting Multilingual Education: Literacy for Mutual Understanding and Peace." This aligns with the global recognition of literacy as a foundational skill necessary for human development, inclusive societies, and economic progress. Multilingual education is gaining attention as a critical tool for enhancing communication, mutual understanding, and cultural harmony in diverse societies. In celebration of this important day, the Nigerian Economic Summit Group (NESG) has produced a special podcast exploring the intersection of multilingual education, literacy, and peacebuilding. This podcast aims to engage policymakers, educators, and stakeholders in a dialogue on the power of language diversity in driving inclusive education, strengthening cultural connections, and contributing to societal peace.

International Youth Day 2024 centres on the theme "From Clicks to Progress: Youth Digital Pathways for Sustainable Development," highlighting the transformative power of digital tools and technology in empowering youth to drive sustainable development. This podcast explores how digital innovation can provide opportunities for young people to contribute to and lead sustainable development initiatives.

Why do Nigerians focus disproportionately on the central government even though states are responsible for most first-line public services? On this episode of the #IfNotNowWhen series, Amaka Anku, Africa head at Eurasia Group, chats with Akin Oyebode, minister of finance for Ekiti state, about the historical roots of this mismatch in expectations. The pair discuss the opportunities facing Nigeria's states and some best strategies for raising revenue and improving public service delivery.

Join us for an enlightening discussion on World Population Day 2024 as we delved into the critical issues surrounding population growth in Nigeria. This special podcast episode featured experts and thought leaders who provided valuable insights into the opportunities and challenges posed by Nigeria's rapidly growing population. We began with an exploration of World Population Day, its origins, and why it remains a crucial observance in today's world. Our guests then discussed the key drivers behind Nigeria's population growth, including cultural, economic, and social factors. Next, we tackled the pressing issues of healthcare and education, examining the challenges Nigeria faces in providing these essential services to its burgeoning population. The intersection of population growth with poverty and economic development was analyzed, highlighting the complexities and potential solutions. We discovered how Nigeria can harness the power of its youthful demographic to foster economic growth and drive innovation. Our experts provided projections for Nigeria's population growth and discussed the policies that should be prioritized to manage this growth effectively. We also explored the critical role of gender equality and women's empowerment in addressing population issues and ensuring sustainable development. Don't miss this insightful episode as we shed light on the demographic dynamics shaping Nigeria's future. Tune in, share your thoughts, and be part of the conversation on how Nigeria can navigate its population challenges and harness its potential for a prosperous future.

Micro, Small and Medium Enterprises (MSMEs) account for 90 percent of businesses, 60 to 70 percent of employment and 50 percent of GDP globally. In Nigeria, MSMEs account for 96.7 percent of businesses, approx. 46 percent of the GDP and employ over 80 percent of the labour force, according to the latest report published by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Therefore, MSMEs have been recognised as the backbone of societies globally with the capacity to contribute to development, innovation, wealth creation, employment generation and poverty reduction and promote equitable economic growth if given adequate support, especially considering Nigeria's strong, youthful and entrepreneurial population. Considering the immense potential of MSMEs and the need to raise awareness about their pivotal role in economic development, June 27 was earmarked for the celebration of MSME Day annually. To deliver a competitive entrepreneurial ecosystem capable of creating employment, wealth creation and driving socio-economic development, gaps within the entrepreneurship ecosystem need to be urgently addressed for its potential to be harnessed. Technology adoption has been identified as a veritable tool in driving the required reforms in the MSME ecosystem in Nigeria. Hence, the podcast seeks to explore the imperative of technology and digitalisation to the realisation of desired policy reforms across key pain points such as access to markets, access to finance and taxation.

World Environment Day is celebrated annually on the 5th of June in light of the need to raise awareness and encourage action to protect the environment. The 2024 World Environment Day theme is Land restoration, desertification, and drought resilience. This theme resonates well with the submissions in the white paper published by the NESG Sustainability Policy Commission in March 2024, “A Pragmatic Path to Net-Zero Using the Green Economy, Blue Economy, and Forestry.” While environmental sustainability issues remain a global concern, Nigeria is one of the countries most vulnerable to the impacts of climate change, including rising sea levels, flooding, more intense storms, and desertification. Therefore, this podcast will highlight the imperatives to address the interrelated issues of climate change, environmental conservation and social well-being. Bringing his wealth of experience as an Environmental Sustainability and Waste Management Consultant with over 20 years of experience, Dr Femi Idowu-Adegoke will discuss the challenges, policy priorities and the collective role of businesses and individuals towards environmental conservation and sustainability in Nigeria.

As we reach the five-year mark since the introduction of the African Continental Free Trade Agreement (AfCFTA), it has been considered necessary to examine the effectiveness of this landmark treaty. This discussion will focus on how the Nigerian economy can strategically position itself to maximise the benefits of the AfCFTA. Leaders of the NESG Trade, Investment and Competitiveness Policy Commission will discuss the imperatives of the Domestication of the African Continental Free Trade Agreement and other policy imperatives. Also, bringing a wealth of experience as the CEO of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf will provide his invaluable perspective as a key industry player. He will discuss Nigeria's progress since ratifying the agreement in November 2020, the significant challenges, and potential strategies to bolster intraregional trade. In addition, according to Article 28 of AfCFTA, the treaty is "subject to review every five (5) years after its entry into force..." Given current realities, the conversation will address whether or not the agreement should be reviewed and what such reviews should be.

Did the Independent National Electoral Commission (INEC) over-promise and under-deliver in 2023? In this episode of the #IfNotNowWhen series, Amaka Anku, Africa practice head at Eurasia Group, sits with Festus Okoye, INEC's former head of voter education, to discuss Nigeria's electoral system and the commission's performance in the 2023 general elections. They debate the common use of the phrase “electronic transmission of results” and discuss what INEC can do to improve election logistics in the future.

The theme for World Health Day 2024 is 'My health, my right'. The WHO Council on the Economics of Health for All has found that at least 140 countries recognize health as a human right in their constitution. Yet countries are not passing and putting into practice laws to ensure their populations are entitled to access health services. Without health, a person is denied their right to be contributing members of society and to provide for their families. Right to Health is the right of everyone to the enjoyment of the highest attainable standard of physical and mental health.

The theme for World Health Day 2024 is 'My health, my right'. The WHO Council on the Economics of Health for All has found that at least 140 countries recognize health as a human right in their constitution. Yet countries are not passing and putting into practice laws to ensure their populations are entitled to access health services. Without health, a person is denied their right to be contributing members of society and to provide for their families. Right to Health is the right of everyone to the enjoyment of the highest attainable standard of physical and mental health.

Why do so many Nigerians believe unverified political and social claims? On this episode of the #IfNotNowWhen series, Amaka Anku, Africa head at Eurasia Group, chats with Babatunde Fashola, former governor of Lagos, about how to debunk these myths through more effective government communication and how to encourage the creation of policy ideas that mobilize Nigerians to achieve collaborative economic growth.

Why do so many Nigerians believe unverified political and social claims? On this episode of the #IfNotNowWhen series, Amaka Anku, Africa head at Eurasia Group, chats with Babatunde Fashola, former governor of Lagos, about how to debunk these myths through more effective government communication and how to encourage the creation of policy ideas that mobilize Nigerians to achieve collaborative economic growth.

To commemorate the #WorldWaterDay2024 themed "Water for Peace", we had an engaging conversation with Engineer Nyananso Gabriel Ekanem. Engineer Ekanem is the Thematic Lead, Water and Sanitation Thematic Group of the Infrastructure Policy Commission of the Nigerian Economic Summit Group (NESG).

To commemorate the #WorldWaterDay2024 themed "Water for Peace", we had an engaging conversation with Engineer Nyananso Gabriel Ekanem. Engineer Ekanem is the Thematic Lead, Water and Sanitation Thematic Group of the Infrastructure Policy Commission of the Nigerian Economic Summit Group (NESG).

Nigeria's northern deserts, central flooding, coastal pollution and erosion, and the ensuing socioeconomic fallout all hint at the severity and veracity of climate change. As a result, swift action is required to mitigate the effects of climate change. Simultaneously, with the population growing at an accelerated rate, more development is required to provide better living circumstances for millions more Nigerians which can be achieved through transition to clean, renewable and sustainable energy sources and the next several decades provide a rare chance to combine these two priorities—economic growth and climate action—for Nigeria to accomplish one of the first truly fair transformations in history in Africa's largest economy.

Nigeria's northern deserts, central flooding, coastal pollution and erosion, and the ensuing socioeconomic fallout all hint at the severity and veracity of climate change. As a result, swift action is required to mitigate the effects of climate change. Simultaneously, with the population growing at an accelerated rate, more development is required to provide better living circumstances for millions more Nigerians which can be achieved through transition to clean, renewable and sustainable energy sources and the next several decades provide a rare chance to combine these two priorities—economic growth and climate action—for Nigeria to accomplish one of the first truly fair transformations in history in Africa's largest economy.

With an estimated 340,000 jobs expected to be produced by 2030 and up to 840,000 jobs by 2060, Nigeria's net-zero route would result in considerable net job creation, with the power, cooking, and transportation sectors accounting for the majority of these jobs. In Nigeria's net-zero pathway, gas will be essential as a transition fuel, especially in the areas of cooking and power, considering that Nigeria's energy transition offers substantial investment prospects, including the creation and growth of solar energy, hydrogen, and electric car businesses.

With an estimated 340,000 jobs expected to be produced by 2030 and up to 840,000 jobs by 2060, Nigeria's net-zero route would result in considerable net job creation, with the power, cooking, and transportation sectors accounting for the majority of these jobs. In Nigeria's net-zero pathway, gas will be essential as a transition fuel, especially in the areas of cooking and power, considering that Nigeria's energy transition offers substantial investment prospects, including the creation and growth of solar energy, hydrogen, and electric car businesses.

On this episode, our Policy Innovation Center delved into the theme "Shaping Youth Ambition: The Role of Educational Policies, Programs, and Technology." In this engaging and informative podcast, we're joined by esteemed facilitators from Policy Innovation Centre: Ese Adams, Gender and Inclusion Advisor Akinwumi Akinola, Behavioral Insight Lead Dr. Cornelius Ohonsi, Epidemiologist and Public Health Specialist Get ready for insightful discussions and expert insights on how educational policies, programs, and technology can shape the ambitions of our youth.

On this episode, our Policy Innovation Center delved into the theme "Shaping Youth Ambition: The Role of Educational Policies, Programs, and Technology." In this engaging and informative podcast, we're joined by esteemed facilitators from Policy Innovation Centre: Ese Adams, Gender and Inclusion Advisor Akinwumi Akinola, Behavioral Insight Lead Dr. Cornelius Ohonsi, Epidemiologist and Public Health Specialist Get ready for insightful discussions and expert insights on how educational policies, programs, and technology can shape the ambitions of our youth.

The NESG 2024 macroeconomic outlook emphasises the importance of achieving macroeconomic stability, of which inflation and the exchange rate are key determinants.

The NESG 2024 macroeconomic outlook emphasises the importance of achieving macroeconomic stability, of which inflation and the exchange rate are key determinants.

In this episode, we explore the factors contributing to the currency's decline, from economic mismanagement to external pressures. We discuss the ramifications for Nigeria's economy and its citizens, examining the challenges faced by businesses, investors, and everyday people.

In this episode, we explore the factors contributing to the currency's decline, from economic mismanagement to external pressures. We discuss the ramifications for Nigeria's economy and its citizens, examining the challenges faced by businesses, investors, and everyday people.

In recent times, Nigeria has been facing an unprecedented heatwave, with temperatures soaring and communities grappling with the impact. This podcast aims to delve into the underlying causes of this heatwave, its connection to climate change, and practical steps individuals and communities can take to mitigate its effects. We will be joined by a climate specialist, who will provide expert insights and guidance on understanding climate change in the Nigerian context and offer actionable advice on how listeners can adapt to and cope with rising temperatures.

In recent times, Nigeria has been facing an unprecedented heatwave, with temperatures soaring and communities grappling with the impact. This podcast aims to delve into the underlying causes of this heatwave, its connection to climate change, and practical steps individuals and communities can take to mitigate its effects. We will be joined by a climate specialist, who will provide expert insights and guidance on understanding climate change in the Nigerian context and offer actionable advice on how listeners can adapt to and cope with rising temperatures.

The Federal Executive Council on November 2, 2022, approved the National Sports Industry Policy (NSIP). The approval is the culmination of years of positive engagement between the private sector, led by the NESG and the public sector, led by the Federal Ministry of Youth and Sports Development, to ensure the transformation of sports from recreation to business. The podcast will delve into the dynamic world of sports and explore the impact of policies that shape the industry. The aim is to gain insights into the goals, strategies, and anticipated outcomes of this groundbreaking policy as we discuss its potential to revolutionize the sports sector in Nigeria.

The Federal Executive Council on November 2, 2022, approved the National Sports Industry Policy (NSIP). The approval is the culmination of years of positive engagement between the private sector, led by the NESG and the public sector, led by the Federal Ministry of Youth and Sports Development, to ensure the transformation of sports from recreation to business. The podcast will delve into the dynamic world of sports and explore the impact of policies that shape the industry. The aim is to gain insights into the goals, strategies, and anticipated outcomes of this groundbreaking policy as we discuss its potential to revolutionize the sports sector in Nigeria.

This topic considers the Host Community Development Trust (HCDT) framework established by the Petroleum Industry Act for developing communities in Nigeria's oil and gas-producing communities. The PIA introduced the HCDT as a uniform host community benefit management system to replace the old agreement-based systems (Memorandum of Understanding/Global Memorandum of Understanding (MOU/GMOU) implemented in line with each company's Corporate Social Responsibility policies. Under the PIA, the settlors (leaseholders of oil and gas assets) are responsible for incorporating the Trusts to benefit their host communities. Many Trusts have been incorporated and are in the process of commencing operations. The PIA stipulates that the primary purpose of the HCDTs is to “foster sustainable prosperity” in host communities. This phrase was not defined in the Act. However, the establishment of HCDTs in the Nigerian petroleum industry to manage host communities' development expectations is new to Nigeria. This raises some questions about the utility of the framework, operability, effectiveness, etc.

This topic considers the Host Community Development Trust (HCDT) framework established by the Petroleum Industry Act for developing communities in Nigeria's oil and gas-producing communities. The PIA introduced the HCDT as a uniform host community benefit management system to replace the old agreement-based systems (Memorandum of Understanding/Global Memorandum of Understanding (MOU/GMOU) implemented in line with each company's Corporate Social Responsibility policies. Under the PIA, the settlors (leaseholders of oil and gas assets) are responsible for incorporating the Trusts to benefit their host communities. Many Trusts have been incorporated and are in the process of commencing operations. The PIA stipulates that the primary purpose of the HCDTs is to “foster sustainable prosperity” in host communities. This phrase was not defined in the Act. However, the establishment of HCDTs in the Nigerian petroleum industry to manage host communities' development expectations is new to Nigeria. This raises some questions about the utility of the framework, operability, effectiveness, etc.

Our outgoing CEO, Mr Laoye Jaiyeola, shared insights with the incoming CEO, Dr Tayo Aduloju, discussing his impactful tenure at the helm of affairs and his invaluable contributions to the NESG.

Our outgoing CEO, Mr Laoye Jaiyeola, shared insights with the incoming CEO, Dr Tayo Aduloju, discussing his impactful tenure at the helm of affairs and his invaluable contributions to the NESG.

The agriculture, health and education sectors face numerous challenges, including limited funding, access gaps, quality issues, and inadequate infrastructure. Impact investors have a crucial role to play in addressing these challenges and unlocking the potential of these sectors, thereby promoting socio-economic development.