The Nigerian Economic Summit Group (NESG) in partnership with the National Universities Commission (NUC) is pleased to announce the theme for the Nigerian Economic Summit (NES) 25th Anniversary Essay Competition
Enhancing Confidence in Nigeria for Nation Building: Towards Economic Success and Improved Quality of life for Nigerians
Eligibility: Entrants must be undergraduates of Nigerian Universities
“Trust is the social glue that holds families, communities, organizations and societies together;
without it, reaching any agreement can become a fraught negotiation.” – Peggy (Rockefeller) Dulany,
With a global shift towards ‘inclusive’ economic growth, it is argued that economic prosperity and business success cannot be adequately explained by abundance of natural resources, brilliance of intellect, or the presence of good laws and institutions. Rather, economic prosperity requires (in addition to the above elements listed) a culture of trust and social capital that forms an economic input (Fukuyama, 1995).
According to Fukuyama, studies have shown that there is a direct correlation between the level of trust of a country and her economic expansion or success. The higher the collective trust level of a nation, the higher the level of collaboration and her chances at inclusive economic development.
In the light of the challenges that have constantly plagued the Nigerian economy such as high levels of corruption and rent seeking, insecurity and insurgency, poor and deteriorating human capital indices, slow and non-inclusive economic growth, slow diversification of the economy, year-on-year budget deficits, economic regression of sub-nationals amongst others, Nigeria has remained a low-trust country and this has resulted in a slow-paced growth.
With an outlook of building a nation that is competitive and sustainable, Nigeria sets to embark on the long march towards economic growth and improved quality of life for its people. Bearing in mind the highly diverse nature of Nigeria, we cannot therefore shy away from the arduous task of rebuilding trust and confidence in her people.
It is on this premise that the NESG calls for applicants for the essay competition.
Entries must be written in English
One entry per participant
1,500 maximum word count
Plagiarism is not accepted
Submitted before August 31st, 2019
All entries must be properly referenced using the American Psychological Association style (APA) style!
Learn about APA Style