The Nigerian Economic Summit Group (NESG), a leading platform for public private dialogue in the country, has set aside the sum of N150 million in an interesting-bearing account as seed money towards the establishment of an endowment fund.
The fund is expected to serve as a means of sustainable funding for the group’s activities, especially research, for evidence-based advocacy, attraction, motivation and retention of high caliber staff in key positions and staff capacity building.
Foluso Phillips, chairman scholarshipsof the board, NESG, speaking at the annual general meeting of the group in Lagos on Tuesday, said: “The NESG continues to consolidate its position as the leading think tank and advocacy organisation in the country, benchmarking its activities and achievements with similar globally successful organisations.”
Announcing that the director general of NESG had signified his intention to step down from the group after what could only be described as transformative tenure, he said the profile of the NESG has increased both on the domestic and international sphere.
“I take this opportunity to, on behalf of my fellow board members to thank him and his tireless team at The Summit House for their relentless effort in carrying out the remit of the NESG.”
Frank Nweke II, director-general, who is leaving NESG at the end of June, said the fund is geared towards the sustainable funding of the group. “NESG is a very important institution; it is about 21 years old. Similar institutions all over the world have funds specifically established to ensure continued operations and existence. And that is why when I came here five years ago, a key aspect of my work is how to ensure sustainable funding for the NESG.
FEMI ASU
