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PPP has boost economy — NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has scored Public – Private partnership (PPP) high, saying it has given the economy a big boost in recent years.
Accordingly, the Association called on governments at all levels to carry along the private sector in all PPP projects.

NACCIMA President, Dr. Simon Okolo, who made this observation during the opening ceremony of the ongoing 2nd Nnewi National Auto Trade Fair in Nnewi, Anambra State ,  noted that PPP initiatives have been putting the  economy on the right path of sustainable growth and development.

Okolo, who spoke on the theme of the fair, “Repositioning Nigerian Economy Through Industrialisation – the Nnewi Experience”, said governments should endeavor to encourage the private sector operators who have ventured into industrial activities by giving them the necessary incentives to expand their scope of operations in a manner that will generate employment opportunities for the teaming unemployed Nigerians.

According to him, going by the empirical evidence of outstanding contributions of the real sector,  such as agriculture, industry and solid mineral, among others, to the socio-economic growth of the developed economies of the world, government must work in close partnership with the organized Private sector (OPS) to make vision 20:2020  realisable.

He emphasized that Government should make a tremendous effort towards  the development of the industrial sector that the nation can be proud to say that it is really working towards becoming one of the top twenty most industrialized nations of the world by year 2020 as Nigeria’s desire to diversify her economy can only be achieved through industrialisation.

The NACCIMA boss explained that in repositioning Nigeria’s economy through industrialisation government, must create enabling environment for business to thrive and make available necessary infrastructure facilities such as the provision of motor able roads, efficient telecommunications, constant power supply, adequate water supply, security of life and property, etc

He noted that by providing conducive environment for business, government will ensure development of the real sector, while agencies of government and institutions would be able to shift attention from the oil and gas sector as the main export earning of the country.

According to him, it is when the minds of men is activated through the provision of the enabling environment and infrastructure as well as introducing entrepreneurship development programme that they will develop the skill needed to drive industrial activities, in a manner that will boost trade and investment of the country to the desired level.

He  deplored the huge chunk of  hard currency Nigeria spends yearly on importation of goods and services with the effects of high inflation and interest rates, frightening capital flight, unfavorable balance of trade, persistent devaluation of the Naira against the currencies of other nations and neglect of the real sector of the economy (Agriculture, Industry, solid minerals) among others.


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