Friday, October 27,
2017 08.15PM / NCCN Secretariat
The National Competitiveness
Council of Nigeria (NCCN), will launch Nigeria’s first Sub-National
Competitive Index on November 2, a move that will help spur growth-friendly
The index evaluates the competitiveness of
Nigeria’s 36 states and FCT through metrics that examine growth, development
and productivity potential.
NCCN’s index draws from resources of The World Economic Forum, World Bank,
Mexico’s IMCO and HBS’s Prof Michael Porter.
The NCCN also received funding from Ford
Foundation, the Tony Elumelu Foundation, and resource support from
the EU Energy Initiative Partnership Dialogue Facility (EUEI PDF) to
drive initiatives targeted at fiscal balance, healthy public-private policy
contestation and unleashing private enterprise potential.
“The NCCN Sub-National Index is a potent tool for catalyzing business-friendly
policies that will spur job-rich growth in Nigeria’s 36 states,” NCCN Chief
Executive Officer Matthias Chika Mordi said. “The findings of NCCN Sub-National
Index underscore the salience of state governments in Nigeria’s overall
economic growth potential.”
The NCCN sub-national will enable states to identify ways to maximize growth
and development potential. State policies and actions hold the key to boosting
Nigeria’s overall growth.
Nigeria faces a well-documented overdependence on oil for fiscal revenue that
has stifled incentives for private sector growth and remains insufficient for
sustainable poverty reduction. According to OPEC, the oil and gas sector
accounts for about 35 per cent of gross domestic product and petroleum exports
revenue represents over 90 per cent of total exports revenue. In the last 4
years, Oil contributed over 60% of Government revenue (2016 - 64.27%, 2015 -
65.38%, 2014 - 67.47%, 2013 - 69.77%) according to the National Bureau of
Gross capital formation as a percentage of
GDP remain inadequate for growth compared to other emerging economies (Algeria
51%, Mexico - 23%, South Africa - 21%, Nigeria - 15%). Operational costs are
high, the lack of adequate infrastructure constitutes a binding constraint for
manufacturing and agriculture, and structural rigidities suffocate
diversification and industrialization efforts.
Perhaps the most disturbing aspect of today’s context is Nigeria’s
rising youth population, which is an unutilized demographic window of
opportunity that is fast turning to a ticking demographic bomb in the form of a
massive army of unemployed youths. 62.27% of the population is under the
age of 25, Countries such as the US, China, Japan, and South Korea achieved
economic growth and poverty reduction by exploiting a similar demographic
window of opportunity.
While national data is widely known, state performance remains obscured by a
previous lack of reliable data. Over Fifty percent of revenue from Nigeria’s
federation account is controlled by state and local governments especially when
you account for derivations and bailouts from federal to state governments.
Beyond that, the majority policies affecting businesses are controlled by
NCCN is a nonpartisan private effort aimed at enhancing the productivity of
businesses operating in Nigeria with the ultimate goal of improved
socio-economic outcomes for Nigeria.
Press Panel Discussion
Topic: “COMPETITIVENESS: The Viable Path
to Job -Rich, Inclusive Growth”
30th of October 2017
10.30 am – 1.00 pm
· Matthias Chika Mordi - CEO, National Competitiveness Council of Nigeria (Moderator)
· Eva Kouka - Quenum - Ford Foundation
· Oluseun Onigbinde - Co-Founder Budgit
Awoyemi - Founder and CEO Proshare Nigeria
The Panel discussions will centre around developing
persuasive solutions and widespread participation by state-level policymakers
in Nigeria’s competitiveness agenda.
Members of the press and select invitees
are welcome to join the discussion session.