“Nigerian Guild of Editors (NGE) Gathers Economic Experts to Tackle National Challenges”
The Nigerian Guild of Editors (NGE) is convening a significant gathering of economic experts, both from national and global institutions, to address the prevailing state of the economy. Over 400 media executives and senior editors will participate in this conference, chaired by Sam Amuka, Founder/Chair of Vanguard Newspapers Group, with President Bola Tinubu set to inaugurate the event on November 15.
In an official statement released by NGE President, Eze Anaba, and General Secretary, Dr. Iyobosa Uwugiaren, the umbrella organization of editors and media executives announced that this year’s conference will also mark the launch of the NGE Editors’ Trust Fund. The conference’s theme is “Stimulating Economic Growth, Technological Advancement: Role of the Media.”
The conference’s primary objective is to examine media sustainability and the challenges posed by Big Tech. It also seeks to remind editors and media executives of their vital role in providing accurate, credible, and timely information essential for judicious resource allocation. The media is viewed as a key player in addressing economic challenges in Nigeria, as economic actors require such information, and foreign and local investors rely on the media for monitoring economic policy development.
Distinguished experts from organizations such as the African Development Bank (AfDB), World Trade Organization (WTO), Central Bank of Nigeria (CBN), academia, and various sectors will engage in discussions covering various burning issues, including the role of editors in shaping narratives and addressing challenges.
Addressing the context of the conference, the NGE emphasized the media’s pivotal role in solving Nigeria’s economic challenges. Key figures from both the public and private sectors believe that the media can provide critical information and monitoring functions in the development of more effective economic policies and programs.
The NGE pointed to ongoing discussions among economic experts that high oil prices have not improved the nation’s economy since 2021, but instead resulted in macroeconomic stability weakening due to declining oil production. Concerns were raised about issues such as costly petrol subsidies, exchange rate distortions, fiscal deficit monetization, and high inflation, affecting millions of Nigerians.
While acknowledging some progress in socio-economic terms, the NGE cited Nigeria’s low ranking in global human capital development and highlighted ongoing challenges, including diversifying revenue sources, addressing infrastructure gaps, strengthening institutions, improving governance, and enhancing public financial management systems.
The conference will also address the impact of illegal oil refineries, bunkering, and oil theft, which pose a significant threat to the nation’s economy and revenue targets.
The NGE anticipates that this gathering will facilitate discussions on issues affecting the journalism profession and lead to solutions that enhance its robust practice in the country.