Details

The Round Table Discussion on Social Market Economy; Tool for Peace and Security took place at the Rockview Hotel in Abuja on the 13th November 2012. At the core of the discussion were discussions and various lectures on issues relating to the social market economy and its benefits to economic growth and national stability. The event brought together economists, business men, development and financial analysts and agency representatives, interested citizens and the media among other participants.

The presentations spanned through the history of the social market economy and its roots from the post-war Germany and its basic principles an ideals by Mr. Dirk Schulz of the German Embassy, Nigeria. It was followed by Dr. Manfred Matzdorf’s (Head of Business Environment Component, SEDIN/GIZ) lecture on the German cooperation with Nigeria through the GIZ (German Agency for International Cooperation), while highlighting how this cooperation contributes to a Dynamic and Balanced socio-economic development by improving the business environment in Nigeria. In giving some economic facts, he called for remedial action for a more equitable and social economic development due to the fact that the proportion of Nigerian living in absolute poverty has increased from 54.7% in 2004 to 60.9% in 2010.

A member of the Strategic Planning, Policy and Coordination Department of SMEDAN (Small Medium Enterprises Development Agency of Nigeria) talked about the perspectives of the social market economy from small and medium scale enterprises in Nigeria. He also highlighted the challenges facing the MSMEs in Nigeria; Poor state of Infrastructure, Corruption, low access to information among others. He concluded by pointing out that a combination of effective public and private sector action is mandatory in order to pursue the transformation agenda, vision 20:20 to also ensure a dynamic, socially and regionally balanced economic growth.

Presentations were also given by Dr. Afeikhena Jerome NGF (Nigeria Governors’ Forum) Seminar Coordinator ‘State Peer Learning Mechanism’ on the Governors’ Forum Experience in Germany and the Follow-Up Process. His remarks called for the NGF Secretariat to facilitate a meeting of the six participating governors and proposed that the peer learning process from the tour of governors to Germany should be further assisted.

Social Market Economy – An Imperative for Peace and Stability was the topic of the presentation by Mr. Emmanuel Uche of Development Measures Global Network. He presented the Social Market Economy concept as a rescue method which could be implemented in countries where the socio-economic situations is so bad that it could lead to the failure of the state.

The Director General, Research and Planning, Plateau State Governor’s Office also put in a talk themed ‘Social Market Economy; Tool for Peace and Stability’ and pointed out that Efforts towards economic development are premised on the lessons of the past as well as the recognition of the fact that peace, conflict and sustainable use of the state’s human and natural resources are inter connected.

From the questions and comments made by participants, and the responses provided by presenters, the following outcomes emerged from the Seminar:

-We need a sustainable economic model that ensures fair generation, distribution and allocation of resources.

-The most important single factor in boosting an emerging economy is peace, security and stability.

WAY FORWARD

Possibilities on how parts of the German economic model of the social Market Economy could serve Nigeria in its efforts to build an economically sound, stable, socially balanced and peaceful society, should be evaluated further in 2013.