For the records: Communique of the 7th annual conference of the Guild of Corporate Online Publishers

Theme: Nigeria: Roadmap for Socio-Economic Recovery and Sustainability

The 7th Annual Conference of the Guild of Corporate Online Publishers (GOCOP) was convened at the Abuja Continental Hotel on October 5, 2023, under the overarching theme, “Nigeria: Roadmap for Socio-Economic Recovery and Sustainability.” This distinguished gathering brought together esteemed members and stakeholders from the realm of online publishing, who congregated to deliberate upon pivotal issues that are shaping our nation and to chart a course towards recovery and sustainability.

The conference was chaired by Prof. Ishaq Oloyede, Registrar, Joint Admissions and Matriculations Board (JAMB), also delivered the opening address. Prof Uche Uwaleke, Professor of Capital Market, Nasarawa State University delivered the keynote address.

The Panelists were, Hajia Hadiza Bala-Usman, Special Adviser to the President (Policy Coordination), Mr. John Chukwu, Group Managing Director/CEO, Cowry Asset Management Limited and Prof Yakubu Ochefu, Secretary General, Committee of Vice Chancellors of Nigerian Universities (CVCNU).

RESOLUTIONS

The conference, conducted with a commitment to fostering socio-economic recovery and sustainability in Nigeria, has reached the following resolutions:

Acknowledging the Timeliness of the Conference Theme: The conference recognizes the timeliness of its theme, which serves as a pertinent agenda-setting platform for both national and sub-national governments.

Decisive Approach to Address Root Causes of Poverty: The conference advocates for a decisive approach to address the root causes of poverty, in light of the pervasive issues of insecurity, kidnapping, and other vices that have impeded Nigeria’s potential for productivity and economic growth.

Competitive Remuneration in the Public Sector: The conference emphasizes the imperative of offering competitive remuneration structures in the public sector to attract top talent and rejuvenate the economy.

Reinforcement of Governance in Key Institutions: The conference proposes the reinforcement of governance in public corporations, publicly listed companies, and non-governmental organizations (NGOs) to safeguard the interests of stakeholders.

Establishment of a Code of Corporate Governance: The conference recommends the establishment of a comprehensive code of corporate governance for public sector institutions, NGOs, and small and medium enterprises (SMEs), which collectively constitute a significant portion of Nigeria’s business landscape.

Advocacy for Austerity Measures and Reduced Dependency on Foreign Products: The conference advocates for the implementation of austerity measures and a reduction in Nigeria’s reliance on foreign products as a strategy to unlock the nation’s potential for substantial socio-economic recovery and sustainability.

Government Collaboration with the Media: The conference underscores the importance of government collaboration with the Nigerian media to enhance their credibility and sustainability, recognizing the pivotal role of the media in national development.

Responsible Media Practices: While acknowledging the media’s significance in development, the conference emphasizes the importance of responsible media practices that do not deliberately undermine national security.

Commitment to Increased Oil Production: The conference reiterates the federal government’s commitment to increasing daily oil production to meet OPEC quotas and boost revenue generation for sustainable economic growth.

Investment in Human Capital: The conference commends the government’s commitment to investing in human capital, particularly through vocational training and certification programs.

Strategic Investment in Medical Sciences, Engineering, and ICT: The conference supports the call for substantial investment in medical sciences, engineering, and information and communication technology (ICT) infrastructure to meet the growing demand for skilled professionals.

Strengthened Inter-governmental Cooperation: The conference commends the government’s dedication to strengthening intergovernmental cooperation, collaboration, and synergy, not only with ministries, departments, and agencies (MDAs) but also with sub-national entities.

Infrastructure Development for Socio-economic Growth: The conference emphasizes the need for significant infrastructure development, particularly in the construction of roads along key transportation corridors, to facilitate the movement of goods and stimulate socio-economic growth.

Elite Character and Lifestyle: The conference recognizes that the character and lifestyle of the elites play a significant role in shaping the country’s development trajectory.

Addressing Elites Consensus for Economic Growth: The conference highlights the importance of addressing elites’ consensus as a crucial factor in achieving economic growth and sustainable development.

Increased Investment in Education: The conference calls for greater investment in education to address the inadequate space for higher education and accommodate the growing number of Nigerians seeking tertiary education.

Responsible Leadership and Wealth Accumulation: The conference expresses concern over leaders amassing excessive wealth to the detriment of the economy and the Nigerian people.

Economic Challenges and Unemployment: The conference notes the economic challenges of the past decade, characterized by weak growth, high inflation, elevated unemployment, and rising poverty, along with factors such as poor access to credit, weak infrastructure, multiple taxes, and an unfavorable business environment.

Addressing Insecurity and Corruption: The conference acknowledges the grave concerns regarding rising insecurity, including banditry and kidnapping, as well as the persistent issue of corruption.

Access to Quality Education and Healthcare: The conference recognizes the need to improve access to quality education and healthcare and addresses the adverse effects of climate change, such as flooding and desertification.

Economic Growth and Recession: The conference observes the fluctuations in Nigeria’s economic growth, from a period of growth at 5.53% from 2010 to 2015 to a subsequent slowdown to 1.20% from 2016 to 2022, which included two economic recessions.

Public Debt and Fiscal Challenges: The conference acknowledges the significant increase in Nigeria’s public debt, which has posed challenges to government operations and critical development projects.

High Inflation and Rising Poverty: The conference notes the persistently high inflation rates and rising unemployment, which have contributed to an increase in multidimensional poverty in Nigeria.

Infant Mortality and Education Challenges: While recognizing progress in reducing infant mortality, the conference acknowledges the challenges of infant mortality and the increasing number of out-of school children.

Digital and Social Media Landscape: The conference highlights Nigeria’s robust digital presence, with a substantial number of internet and social media users, which has created opportunities for employment and cultural representation.

Thriving Creative Sector: The conference recognizes the thriving creative sector in Nigeria, with significant contributions to GDP from areas such as motion pictures, music recording, and fashion.

Role of Capital Market: The conference acknowledges the role of Nigeria’s capital market in providing medium-to-long term funds for governments and businesses and emphasizes the importance of continued improvements in market infrastructure and product offerings.

Clear Socio-economic Recovery Roadmap: The conference emphasizes the need for a clear roadmap for socio-economic recovery and sustainability, including diversification of the economy, industrial parks promotion, and privatization of state-owned businesses.

Regional Economic Self-sufficiency: The conference encourages regions and states to identify their competitive advantages and establish parameters for achieving economic self-sufficiency.

Infrastructure Development: Substantial investments in infrastructure, facilitated by private sector participation, are considered crucial to unlocking Nigeria’s economic potential. This includes addressing monopolies in key sectors and exploring innovative financing mechanisms.

Support for MSMEs and Employment-elastic Sectors: Given the high unemployment rate and poverty levels, the conference emphasizes support for micro, small, and medium enterprises (MSMEs) and employment-elastic sectors, including capacity building and improved access to credit.

Improving the Business Environment: The conference advocates for continuous efforts to enhance the ease of doing business in Nigeria, including the harmonization of business taxes.

Media’s Role in Promoting Good Governance The conference encourages the media, particularly the Guild of Corporate Online Publishers (GOCOP), to leverage Nigeria’s expanding internet penetration to educate the public on government programs and policies, promote good governance, and hold the government accountable for instances of corruption and misconduct. Additionally, it should support businesses by highlighting their products and challenges.

The Guild of Corporate Online Publishers (GOCOP) reaffirms its unwavering commitment to upholding the highest standards of professional journalism, promoting ethical practices, and actively contributing to Nigeria’s socio-economic development and sustainability. We extend our profound gratitude to all our members, attendees, and stakeholders who participated in this 7th Annual Conference, and we eagerly anticipate continued collaboration and progress in the years ahead.

Danlami Nmodu, mni (Chairman) Olumide Iyanda (Secretary), GOCOP Annual Conference Committee GOCOP Conference Committee

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