June 25, 2024

Tinubu pledges to strengthen organised private sector, rebuild economy


By  Johnbosco Agbakwuru

PRESIDENT Bola Tinubu on Tuesday pledged to strengthen the  Organised Private Sector, OPS, and rebuild the country’s economy.

President Tinubu stated this at the third edition of the Nigeria Employers Summit organised by the Nigeria Employers’ Consultative Association, NECA in Abuja.

The two days summit is with the theme, “Economic Renaissance: Harnessing Government Reforms and Private Sector Agility”.

The President, who was represented by the Minister of State for Labour and Employment, Rt. Hon. Nkeiruka Onyejeocha, said the summit was timely.

According to him, government, since its inception has rolled out several reforms aimed at rebuilding the economy and with far reaching impact on organised businesses.

“It is without a doubt that this Administration is committed to strengthening the private sector and rebuilding our economy.

“In our quest for economic renaissance and national renewal, we have had to embark on various reforms to navigate our nation back from the path of economic ruin.

“These reforms are not only necessary but also very important if we are to preserve our national wealth and lay a solid foundation for our national development.

“This Administration will continue to do all that is necessary to ensure the sustainability of businesses, attract foreign direct investment and make our nation the pride of Africa as it used to be,” he said.

He however said that the current challenges are surmountable and that the country would continue to surmount all.

He also noted that the challenges were as a result of the reforms of the administration.

“I want to assure you that this administration is doing all that is necessary to cushion the pains and make life better for all citizens.

“With our Renewed Hope 8-Points Agenda, I want to assure you of our continuous commitment to rebuild our nation and make it reclaim its pride of place, not only in Africa but also in the world.

“We will continue with various bold and strategic measures were necessary to address the deep-rooted structural deficiencies and systemic challenges that plagued the economy over the years.

“Despite our country’s complexities and some citizens’ resistance to change, we will remain resolute in our commitment to steering the nation toward stability and prosperity,” he said.

Mr president therefore said that there were on going reforms within the fiscal space.

He also commended NECA for its many positive impact in the promotion of enterprise sustainability and competitiveness and in deed national growth.

“We will continue to partner and collaborate with like-minded organizations that are focused on national development to drive our economy towards growth and sustainable development,” he added.

Speaking, Mr Taiwo Adeniyi, President of NECA said the theme of the summit aimed to deepen collaboration and create pathways towards maximising ongoing government reforms by leveraging the capacity and potential of private sector employers.

“We believe this will expedite the achievement of the 8-point “Renewed Hope” agenda of Mr President towards promoting predictable national development, and fostering inclusive growth.

“Since the beginning of this administration, government has embarked on an ambitious agenda of reforms aimed at revitalizing our economy.

 “These reforms span various sectors, including agriculture, manufacturing, energy, and digital technology.

“It also includes significant measures such as the removal of fuel subsidy, the Forex unification policy, and ongoing omnibus monetary and fiscal reforms among others,” he said.

 Adeniyi said the summit therefore, serves as a platform for dialogue, critical thinking, collaboration, and a call to action for every stakeholder.

He also said the summit was an opportunity to share insights, best practices, and innovative solutions that can drive our economic renaissance.

“We, therefore, call on the Government’s commitment to implementing the action points that will emerge from this Summit’s discussions.

“We do not want this to be a mere talk shop, but a summit that fosters an improved socio-economic environment allowing businesses, irrespective of size and sector, to thrive,” he said.