By Olasunkanmi Akoni

The incoming administration of President-elect, Asiwaju Bola Tinubu has been tasked to create incentives for an enabling business environment in Nigeria.

The Executive Chairperson of Still Earth Holdings, Oyindamola Adeyemi, gave this charge while delivering an address at The Economists The World Ahead 2023  on Wednesday.

Adeyemi stressed the need for the formulation and implementation of sound pro-business policies and incentives that promote an enabling environment for businesses to thrive as key factors for building a stronger economy under the incoming administration.

She said,  “The resilience of the Nigerian economy, as demonstrated by a moderate Gross Domestic Product GDP will be propelled by the improved performance of non-oil sectors, such as: agriculture, the service industry, and construction.”

However, she also stressed that the economy has yet to achieve the expected bounce-back rate, primarily due to inflation and other disruptions in the economy, including the contraction of the oil and gas sector resulting from low output.

According to Adeyemi, “The Nigerian economy has remained resilient with moderate GDP growth post-pandemic period, albeit below expectation with a spiraling inflationary rate. 

“The non-oil sectors have continued to contribute positively, driven by agriculture, service industries, and construction while oil and gas contracted due to low outputs.”

She also expressed optimism that Nigeria’s economy could experience a stronger rebound after the election, while advocating for the formulation and implementation of the right policies.

Adeyemi, expressed confidence the private sector in contributing to the country’s post-election economic growth, stressing that the private sectors will drive the national economy forward.

“Through innovative solutions that promote resilience and sustainability, the group continues to support businesses and enterprises in various segments, positively impacting the economy,” he said.