- President Tinubu emphasizes support for public-private partnership to drive economic growth during a meeting with the NESG Board
- Tinubu reaffirms commitment to economic reforms, focusing on ease of doing business, transparency, and completing priority reform areas within three years
President Bola Ahmed Tinubu has reiterated his support for a strong public-private partnership to help the economy grow.
On Thursday, the president addressed an audience of members of the Nigeria Economic Support Group’s (NESG) Board and Management in Abuja.
He stated that his administration’s sustained, bold, and coordinated economic reforms were based on ease of doing business, collaboration, continuous performance evaluation, and a “strong adherence to accountability and transparency.”
The president reaffirmed his commitment to completing the eight priority reform areas outlined in the Renewed Hope Agenda within the next three years.
President Tinubu, in a statement issued by his spokesman, Chief Ajuri Ngelale, stated that Nigeria is endowed with abundant human and natural resources and deficit opportunities that can be quickly leveraged into new prosperity.
He urged the urgent exploitation of Nigeria’s diversity for collective gain, focusing on new agricultural think tanks and establishing a commodity exchange.
We’ve gone back in time. I’m not going to look back. My horse’s and my race’s focus remains forward-looking. We have an abundance of knowledge untapped mineral resources, and a God-given agricultural sector. Still, we are hesitant to take the massive steps that will bring our people prosperity. We are not leveraging our diversity for prosperity; instead, we are at odds, arguing over trivial matters, rather than thinking about and acting for our people, the President said.
The President stated that he was elected on a “no excuses” platform to restore hope and that he will not accept excuses from anyone in his administration as they work to implement his agenda.
Looking backwards is retrogressive for any reformer. Looking forward can give you the leaps that will propel you in the right direction. We need think tanks in the agricultural sector. I don’t see why Nigeria will be so blessed with good soil and not have a commodity exchange. I don’t see why we have not been able to interrogate our real estate sector and propel it.
I don’t see why we have not used consumer credit to build the purchasing power of our people and the capacity of our very own manufacturing sector,” the President assessed.
While commending the NESG for believing in the reforms of his administration, the President said the “bitter pill” must be administered to an ailing nation and economy to build a better future for the country.
I am here and I believe we can do it together. No single person succeeds alone. The world is dynamic. We are confronted with climate change and other challenges, but somewhere in the eye of the storm, there is a quiet and peaceful corner for those who can toil well. With patience and determination, we will succeed, the President assured.
Mr. Olaniyi Yusuf, Chairman of NESG, welcomed the Tinubu administration’s economic reforms, particularly removing fuel subsidies, harmonising foreign exchange rates, food security, and palliatives for sub-national governments.
The Chairman of the NESG pledged that the NESG would collaborate with the newly appointed cabinet to achieve the administration’s eight-point agenda.
Your track record in the effective implementation of bold economic reforms as the Governor of Lagos leaves those of us in the private sector without doubt that you will achieve much greater feats as our nation’s president, the NESG Chairman confided.
He used the courtesy visit to formally request that the President declare open the NESG Summit in October, as well as to direct the heads of Ministries, Departments, and Agencies (MDAs) to collaborate with them and fully participate in the Summit as part of efforts to increase local and foreign direct investment in Nigeria.