The Federal Government, on Monday sealed a new partnership deal with business leaders across all sectors of the Nigerian economy with the objective of addressing major challenges militating against industrial growth in the country as part of its Industrial Revolution plan.
The Minister of Trade and Investment, Mr. Olusegun Aganga, who flagged off the maiden edition of the Quaterly Luncheon With Business Leaders in Lagos, on Monday, said it marked a new beginning of a mutually beneficial partnership between the public and private sectors of the economy towards achieving enhanced and sustainable economic growth and development for the country.
The minister explained that the Quarterly Luncheon with Business Leaders was conceived as a veritable platform for the government and business leaders across critical sectors of the Nigerian economy to discuss issues/challenges militating against industrial growth; deliberate on the right synergy for enhanced productivity, sustained economic growth and development; and monitor progress made on a quarterly basis.
He said, “The luncheon is conceived as a forum for government and business leaders across critical sectors of the Nigerian economy to discuss issues/challenges militating against industrial growth; deliberate on the right synergy for enhanced productivity, sustained economic growth and development; and monitor progress made on a quarterly basis. The forum will also address issues affecting the Ease of Doing Business in Nigeria, including other challenges facing local and foreign investors with a view to finding workable/lasting solutions and building on subsequent gains.
“The theme of this series, “Industrial Revolution: The Role of Business Leaders as Game Changers,” is a wake-up call to everyone of us, particularly those in leadership positions across all sectors of the Nigerian economy, that the economic destiny of Nigeria lies in the hands of Nigerians, whether in the public or private sector. And the most effective way to fast-track this much-desired transformation is for business leaders to see themselves as game changers as we begin this important journey of nation building. For the first time, we are linking industries where we have competitive and comparative advantage to innovation and skills development. We have the aspiration to be in the top 10 globally in some of these sectors, and we have already started with cement. We will back this up with the right incentives and policies and make concerted efforts to remove barriers to enhanced productivity.
Aganga noted that the partnership with business leaders was in recognition their critical roles as drivers of economic growth and development adding that the Federal Government was committed to collaborating with them in the implementation of its to remove Industrial Revolution Plan.
He said, “As we set in motion this historic win-win partnership between Government and the private sector in line with the Transformation Agenda of President Goodluck Ebele Jonathan, it marks the beginning of a deliberate effort to improve our business environment and an unprecedented industrial revolution, which with determination and commitment, will convert Nigeria’s vast human and natural resources into economic fortune for Nigerians, including generations yet unborn.
He stressed that in order to achieve the desired sustainable economic growth and development, there was an urgent need for the country to change from the old paradigm of exporting raw materials to exporting finished products adding that the Ministry of Trade was committed to providing the enabling environment to make this happen.
He said, “I have taken time to study the economic history of nations, both rich and poor. But hard as I did, I have not seen a nation that has moved from being a poor to a rich nation by relying on exporting raw materials and foodstuff alone without a vibrant industrial and services sector.
I have seen that the success stories of advanced economies began from sound industrial processes helped by growth-oriented financial and telecommunications services, among others, as well as sound macroeconomic policies. “Already, the Federal Government of Nigeria has taken giant strides in addressing the known bottlenecks in our macroeconomic and business environment. We are rigorously implementing the components of our investment climate reform programme, which we have commenced with the support of the World Bank Group and the Department for International Development. In this regard, we have set up the Doing Business and Competitiveness and After-Care committees, to address these challenges.”
Speaking during the event, the Chairman, Skye Bank Plc, Mr.Olatunde Ayeni, said the forum signified a new dawn as it marked the beginning of positive collaboration between the public and private sector towards achieving enhanced and sustainable economic growth and development.
He said, “The forum signifies a new dawn because it marks the beginning of a positive collaboration between the private and public sectors towards achieving enhanced and sustainable economic growth and development for our country. The forum has brought together frontline investors and entrepreneurs with a view to charting the way forward for the economic transformation of our country.” In his remarks, the National President, Manufacturers Association of Nigeria, Chief Kola Jamodu, commended the Minister of Trade and Investment for initiating the partnership with the private sector adding that the private would give maximum support to enable the government achieve its economic transformation agenda. He said, “We want to commend the Minister of Trade and Investment, Olusegun Aganga, for initiating this new partnership. We will do everything to support the ministry in its initiatives aimed at transforming our economy.”
