NECA lecture to examine Nigeria’s $1tn economy goal

The Nigeria Employers’ Consultative Association has said enterprises are operating in an environment characterised by rapid changes, including skill gaps, competitiveness and the need to improve productivity and resilience.

The Director-General of NECA, Adewale-Smatt Oyerinde, stated this on Thursday in Lagos while speaking at a press conference to announce the 42nd Omolaloye Management Lecture, billed to take place next week.

The annual lecture is themed, ‘$1tn economy: What it will take Nigeria to achieve the goal’. Oyerinde, who was represented at the event by the Deputy Director, Legal, at NECA, Thompson Akpabio, said the lecture was expected to stimulate conversations around these issues and provide insights that could translate into better management practices and stronger institutions.

“Enterprises are operating in an environment characterised by rapid changes. Some of these changes include a new world of work on workplace expectations, skill gaps, competitiveness, and the continuing need to improve productivity and resilience, especially in this economy that we operate in,” Oyerinde said.

He emphasised that Nigerian economic progress depended not only on sound policy and investment but also on the quality of leadership and management within organisations.

“Effective management is essential for productivity, innovation, competitiveness, industrial harmony, and the creation of a sustainable enterprise. The 2026 edition therefore comes at an important time for businesses and the Nigerian economy,” he said.

Oyerinde said the media engagement was vital, adding that the media remained an important partner in communicating issues that shaped the economy, workplace and future of enterprise in Nigeria.

The NECA boss said the event occupied a special place in the association’s calendar “because it provides an opportunity for business leaders, policymakers, professionals, academia, and other stakeholders to discuss, reflect on contemporary management and economic issues, as well as exchange ideas and explore practical approaches to strengthening organisational performance and national development.”

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Giving background to the forthcoming event, Oyerinde said Dr Michael Omolayole served as the 10th President of NECA from 1980 to 1986.

He said the lecture provided an avenue to honour Omolayole’s contribution to management, enterprise development and the advancement of the organised private sector.

“As employers and representatives of the organised private sector, NECA recognises and also welcomes each and every person who will be part of the event,” he said.

Also speaking, the President, AIESEC Alumni Nigeria, Marcel Mba, said only about 21 countries had economies exceeding $1tn in nominal gross domestic product, out of more than 200 countries, with none in Africa.

“No African country is even close. And sadly, Nigeria had achieved a higher GDP level in the past. So, it is a source of concern and interest to all discerning citizens of Nigeria. Hence the need for you to come and join the conversation here,” he said.

He described the OML as an annual management and economic development event held in honour of the veteran industrialist and former first Nigerian Chairman/Chief Executive Officer of Unilever Nigeria (Lever Brothers).

“At OML, over the past 42 unbroken years, we have raised and discussed issues of National importance, and come up with solutions and communiques that have been passed to the Federal Government; such inputs have gone on to make positive impacts in the nation’s economy,” he stated.

The chairman of the organising committee, Mr Bayo Ige, said, “At the end of the lecture, they are expected to come out with a position paper on how the country can achieve the 1tn dollar economy,” he said.