June 14, 2024

Shettima seeks public-private partnerships to drive economic growth


VP Shettima

 Lauds Elumelu’s entrepreneurial vision, pledges ease of doing business

By Johnbosco Agbakwuru, Abuja 

Vice President Kashim Shettima has called for a more robust collaboration between the government and business leaders to propel Nigeria’s economic aspirations. 

The Vice President said that open dialogue, shared insights, and collaborative work between the public and private sectors are necessary to develop solutions tailored towards Nigeria‘s unique realities.


Speaking at a gathering of top industrialists at the Heirs Holdings Group Directors’ Annual Summit Dinner in Abuja on Friday, VP Shettima called for synergy between the political class and economic stakeholders, emphasizing that the two spheres are not opposites but complementary forces vital for national stability and progress. 

“Politics is too important to be left to the politicians, and enterprises that define our economic destination are too important to be left to the businessmen alone to develop,” he said.

Aligning with President Bola Tinubu’s economic agenda, the Vice President urged conglomerates to serve as pipelines for the administration’s practical economic vision, departing from cosmetic reforms of the past. 

“Collaboration between the public and private sectors is the ingredients of a thriving economy. We must engage in open dialogue and share insights and work together to crop solutions that are peculiar to our realities. Whether it is tackling unemployment, reducing poverty, or enhancing education and healthcare, our partnership must aspire to drive sustainable development and create a safe future for all Nigerians,” he added.

Projecting into the future, Senator Shettima said, “Our bragging right will not be about having the most unicorns on the continent but also about our entrepreneurial standing with global comparisons.”

He hailed the Chairman of Heirs Holdings,  Group Tony Elumelu, describing him as an “enigma and a banking colossus whose entrepreneurial exploits have carved a niche in Africa’s economic landscape.”

The VP lauded the Heirs Holdings chairman’s visionary leadership and commitment to empowering young African entrepreneurs. 

“Tony Elumelu belongs to the class of wealthy men because he generates wealth and opportunities and is a harbinger of great tidings to the Nigerian people,” the Vice President said. 

To Elumelu and the business community, he further said, “For the dreams you have relegated to help build our nation, we offer our deepest gratitude and a promise to continue playing our part to enable the ease of doing business.”

Earlier, Chairman of Heirs Holdings Group, Elumelu, reaffirmed the group’s unwavering commitment to the philosophy of Africapitalism and empowering young entrepreneurs across the continent.

Elumelu, whose business empire spans 24 countries, noted that the annual gathering serves as a platform to review achievements, business practices, and learn from the experiences of over 100 board members. 

“Today, we started our Annual General Meeting, and it will continue until Saturday. Sessions like this afford us the opportunity to reflect on everything we have done within the year, look at things we should have done better, learn from our past mistakes, and re-strategize on how to accomplish our purpose,” he stated.

According to Elumelu, at the core of Heirs Holdings’ ethos is the belief that the private sector must play a leading role in Africa’s development, a philosophy he described as “Africapitalism.” 

He stressed the group’s focus on human impact, citing the empowerment of 20,000 young African entrepreneurs with non-refundable seed capital of $5,000 each as their most significant recent achievement.

Elumelu expressed confidence that the collective efforts of Heirs Holdings and other business groups would contribute to transforming the African continent and uplifting the black race globally.

In her welcome address, the Founding Trustee of the Tony Elumelu Foundation and Chairperson of Avon Healthcare Limited, Dr. Awele Elumelu, described Vice President Shettima as an exemplary leader committed to public service and nation-building. 

“In Heirs Holdings Group, one of our core values is excellence, and our guest speaker embodies excellence,” she said, adding that the group felt honoured by VP Shettima’s presence.

Also present at the event were the Minister of Steel Development, Prince Shuaibu Abubakar Audu; Minister of Steel Development, Prince Shuaibu Abubakar Audu; Minister of Youth Development, Jamila Ibrahim; Accountant-General of the Federation, Dr. Oluwatoyin Madein; Director-General of Small and Medium Enterprises Development Agency of Nigeria, Charles Odii; Special Advisers, Senior Aides to the President of the Federal Republic of Nigeria and members of the Diplomatic Corps.