VP Shettima calls for stronger FG-private sector synergy to drive economic growth

By Kunle Sanni

Vice President Kashim Shettima has emphasized the importance of a robust partnership between the federal government and the private sector to spur Nigeria’s economic growth and industrialisation.

Speaking during a meeting with representatives of the Nigerian Economic Summit Group (NESG) ahead of the 30th Nigerian Economic Summit, Shettima underscored the critical role the private sector plays in driving the job creation and industrialisation agenda of the Bola Tinubu administration.

According to the Vice President, the government’s pro-business policies and focus on infrastructure improvements, such as power, are geared towards creating an enabling environment for businesses to thrive.

“Our nation is pregnant with possibilities. Hope springs eternal from the hearts of men,” Shettima remarked, highlighting NESG’s pivotal role in supporting Nigeria’s economic potential.

Stressing the importance of electricity in powering industrialisation, the Vice President stated, “Without power, there can be no industrialisation. I believe that if we get our acts right, Nigeria will influence development in Africa.” He described the current administration as being particularly attuned to the needs of businesses.

“This government is headed by someone who grew up in your ecosystem and speaks your language of business. We have never gotten a government that is as business-friendly as this one,” Shettima added.

He further pledged that the government would support the private sector in creating hope and opportunities for the country’s youth, saying, “The resources are there for us to do it. We will do it.”

During the meeting, Special Adviser to the President on Economic Matters, Dr. Tope Fasua, urged the NESG to ensure that discussions lead to concrete outcomes. “We cannot have economic development without growth. We are hoping that the NESG can take this forward. Let’s begin to have results,” Fasua said.

Similarly, Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, called for action, encouraging the NESG to “localize global discussions” for post-summit coordination and impactful results.

Mr. Omoboyede Olusanya, Chairman of the Central Planning Committee for the 30th Nigerian Economic Summit and Vice Chairman of the NESG, described the upcoming summit as a key platform for discussing regulatory reforms necessary for boosting economic competitiveness.

He revealed that the summit would feature key events such as meetings with CEOs from Francophone countries and discussions on local pharmaceutical manufacturing and energy sector dynamics.

Olusanya also noted that design workshops focusing on critical issues like food security, digital inclusion, and healthcare access would be held during the summit. High-level panels addressing fiscal reforms and infrastructure development would also highlight the need for strategic investments to build a more resilient economy.

“Our goal is to create actionable frameworks that address Nigeria’s pressing economic challenges,” Olusanya said, stressing the importance of fostering collaboration among stakeholders for sustainable development.