Government Seeks Stronger Synergy With Private Sector For Economic Growth

Vice President, Kashim Shettima, has reaffirmed the Nigerian government’s commitment to fostering a strong partnership with the private sector to drive the nation’s economic growth and industrialization.

Speaking during a meeting with a team from the Nigerian Economic Summit Group (NESG) ahead of the group’s 30th Nigerian Economic Summit, the Vice President noted that the government’s pro-business policies and focus on improving key infrastructure are designed to create an environment where businesses can thrive.

He said the private sector is critical in driving the industrialization and job creation agenda of the President Bola Tinubu administration.

“Our nation is pregnant with possibilities. Hope springs eternal from the hearts of men,” while describing the NESG as the premier economic organization in the country, that holds the power to support the attainment of Nigeria’s potential.

Emphasizing the critical role of electricity in driving industrialization, VP Shettima noted: “Without power, there can be no industrialisation. I believe that if we get our acts right, Nigeria will influence development in Africa.”

According to the Vice President, the current administration is uniquely attuned to the needs of businesses.

“This government is headed by someone who grew up in your ecosystem and speaks your language of business. We have never gotten a government that is as business-friendly as this one,” he stated.

More support

He also pledged support for the private sector, calling it an essential partnership for economic growth, adding that “we want to create hope and opportunities for our youths, and the resources are there for us to do it. We will do it.”

Also, Special Adviser to the President on Economic Matters, Dr. Tope Fasua, urged the NESG to turn discussions into tangible results.

“We cannot have economic development without growth. We are hoping that the NESG can take this forward. Let’s begin to have results,” said Fasua.

On her part, Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, emphasized the need for action, calling on the NESG to “localize global discussions” to ensure post-summit coordination and impactful outcomes.

Earlier, Chairman of the Central Planning Committee for the 30th Nigerian Economic Summit, Mr. Omoboyede Olusanya, said the 30th Nigerian Economic Summit is a pivotal platform for discussing regulatory reforms essential for economic competitiveness.

Key events

He said key events will include a meeting with CEOs from Francophone countries and sessions that will tackle topics like local pharmaceutical manufacturing and energy sector dynamics, aiming to foster collaboration among stakeholders for sustainable development.

“Our goal is to create actionable frameworks that address Nigeria’s pressing economic challenges,” he said.

Olusanya noted that, in addition to these discussions, the summit will feature design workshops aimed at addressing critical issues such as food security, digital inclusion, and healthcare access.

There will also be high-level panels addressing fiscal reforms and infrastructure development, underscoring the need for strategic investments.

“We must leverage these discussions to build a more resilient economy,” Olusanya added.

Olusola Akintonde