In New York, Emir Sanusi seeks private capital to drive Nigeria’s economic growth
The Emir of Kano, Muhammadu Sanusi II, has urged stronger collaboration between government and the private sector as a pathway to unlocking Nigeria’s economic potential and sustaining reforms.
Speaking on Wednesday at a high-level summit on the sidelines of the 80th United Nations General Assembly in New York, Sanusi stressed that Nigeria cannot rely solely on government spending to achieve lasting growth.
“The private sector must be given a central role in driving growth and attracting the investments needed to transform the economy,” he said, noting that public-private partnerships (PPPs) remain vital to national development. He emphasized that modern and reliable infrastructure is essential to meeting the aspirations of millions of Nigerians.
Other stakeholders at the summit shared similar views. The Director-General of the National Board for Technology Incubation (NBTI), Dr. Kazeem Kolawole Raji, represented by Tunde Doherty, said technology incubation is fueling innovation across agriculture, energy, and other sectors.
Professor Tai Balofin, President of Newday International and Chairman of APC USA, described real estate as a catalyst for foreign direct investment, while the First Lady of Osun State, Mrs. Titilola Adeleke, highlighted the need for gender inclusion in economic planning. She said empowering women and children through education, health, and agriculture would further strengthen national development.
Adeleke was joined by fellow state first ladies — Professor Olufolake Abdulrazaq of Kwara, Fatima Mohammed Bago of Niger, Zulaihat Dikko Radda of Katsina, and Huriyya Dauda Lawal of Zamfara — who all tied gender equality to Nigeria’s broader progress.
One of the key highlights of the summit was the unveiling of “Two Years of Bold Leadership & Lasting Change: The Tinubu Effect,” a book chronicling President Bola Tinubu’s reforms. The publication noted a rise in foreign direct investment in Nigeria’s digital economy, from $22 million in the first quarter of 2023 to $191 million in the same period of 2024, as evidence of growing investor confidence.
Organisers further announced fresh investment pledges in real estate, renewable energy, and technology, alongside new frameworks for PPPs in oil and gas, maritime, agriculture, and aviation.
