FIND to Discuss Development Beyond Oil

Development beyond oil tops the Forum for Inclusive Nigerian Development (FIND) discussion holding in Lagos on Tuesday. The dialogue holds under the theme: “Promoting Sustained Growth and Inclusive Development of States in Nigeria”.

The event will be chaired by Prof. Akpan Ekpo, director-general, West African Institute for Financial and Economic Management (WAIFEM); speakers include Prof. Douglason Omotor, Dr. Oluyomi Ola-David and others representing development agencies in Nigeria.

FIND is a multi-stakeholder national leadership group dedicated to promoting inclusive development “beyond oil” to benefit all Nigeria’s people.

FIND’s members are a diverse and influential set of Nigerian leaders in government, business, community development, academia, media and culture. New Nigeria Foundation and the Consensus Building Institute, a U.S. based not for profit organisation, are co-conveners of FIND.

The Ford Foundation has supported the creation of FIND.

The April 12 dialogue will focus on identifying opportunities and strategies for economic and revenue growth and inclusive development in Nigeria’s states.

The dialogue aims to generate ideas to aid state governments, civil society and business leaders to diversify state economies, grow their internally generated revenue and deliver inclusive growth to their citizens by reducing vulnerabilities and ensuring sustainable economic growth for all.

The collapse of global oil price has taken its toll on the Nigerian economy.  Across Nigeria, the new administration and the public have continued to deliberate on how to respond to the unrelenting dive in oil price and its impact on government revenues.

Currently, many states are unable to meet their statutory obligations and there seems to be no light at the end of the tunnel.  A few states have partially been able to offset the fall in Federal oil revenue transfers by increasing their Internally Generated Revenue (IGR).

Today, there is an urgent need for economic diversification and inclusive growth in the states, based on participatory governance of state economies.

One key starting point is participatory development of state strategies to create a virtuous circle of inclusive growth, expansion of IGR, and investment of state revenues in quality services and infrastructure that in turn contribute to further inclusive growth.  Leaders in government, business and civil society can learn important lessons by examining what has been tried, what has worked and what has not in states’ efforts to create inclusive growth and build up their IGR, and by exploring new approaches that create mutual commitment and accountability among state governments, civil society and business.

The Dialogue will provide an opportunity for participants to assess what states have been doing to promote inclusive growth, identify lessons learned, and develop new ideas for states to test. Expected at the dialogue session are representatives of states’ economic management teams, development agencies, financial services sector, economists, the private sector, FIND, civil society organizations (CSOs), professional bodies, and members of the general public.  State government officials will have the opportunity to share experience and respond to questions.

The Dialogue will produce a report that can be shared with state and national leaders, and opportunities for participants to take lessons and new ideas and put them into practice, with FIND’s support where it can be useful.