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Lagos Postpones Ehingbeti Economic Summit, now Component of Rebuild Agenda

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In view of recent events across the country, the Lagos Economic Summit Group (LESG) has announced the postponement of Ehingbeti, the Lagos Economic Forum, earlier scheduled to hold from November 10 – 12, 2020, to a date in the first quarter of 2021.

With this postponement, the Economic Summit themed ‘For a Greater Lagos: Setting The Tone For The Next Decade’, has become a component of the Rebuild Lagos Agenda. A new date for the summit conceived to provide a robust platform for deliberations on pragmatic optimization of the inherent opportunities in Africa’s 5th largest economy and offer perspectives on how to manage the peculiar socio-economic landscape of the State in the coming decade, will be announced in the coming weeks.

“Happenings in our immediate past have not significantly altered the focus of the Ehingbeti, but they have broadened breadth of discussions that will happen at the Summit and expanded the composition of stakeholders’ expected to participate in the summit next year” said Sam Egube, the Commissioner for Economic Planning and Budget, who is also a Co-chair of the Steering Committee.

“We have recently witnessed circumstances that were hitherto not part of our social fabric in Lagos State. These surprises have not only necessitated the postponement of the summit, but also compelled a methodical reappraisal of our social system, which Ehingbeti will address in the first quarter of 2021,” concluded Egube.

Earlier in October, the Group at different interactive sessions with their private sector counterparts and the media had announced a date for the summit and refreshed the Ehingbeti logo to reflect the contemporary outlook of the annual summit.

Specifically, the logo refresh was to ensure that the summit did not disconnect from the economic heritage of the Marina and Broad Streets areas of Lagos, which served as the springboard for Nigerian and West African economic development since the European incursion in the 15th century.

Ehingbeti is acknowledged as the first institutionalized economic forum by any state in Nigeria. The Lagos Economic Summit is a public-private sector roundtable that started as a collaborative effort between the Lagos State Government and Business Club Ikeja.  Since the inaugural summit in 2000, the summit has gained useful insights from the participation of innumerable business and political leaders, private sector players, renowned economists, notable development experts and outstanding scholars.

The summit is an ingenuous socio-economic apparatus that has contributed significantly to the evolution of Lagos State into a major economy in sub-Saharan Africa and an admirable megacity, with expanding potentialities.

Hosted by successive administrations in Lagos State since the beginning of the 4th Republic, Ehingbeti has consistently redefined the dynamics of public-private sector collaboration for development across social and economic indices in Lagos State.

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