The Nigerian government has stated that the nation’s quest for economic diversification, inclusive growth, job creation and an invulnerable economy cannot be attained without the Organised Private Sector (OPS) of the economy, as the private sector is the most important ally in taking Nigeria out of its present economic woes.
Minister, Industry, Trade and Investment, Dr. Okechukwu Enelamah, noted that any wise government must create an enabling environment for private sectors to thrive, adding that the presidential council on ease of doing business will help to identify the bottlenecks hindering the growth of businesses in the country and will give the private sector the desired support to attract both local and foreign investments.
Enelamah who spoke during an interactive session organised by the Lagos Chamber of Commerce and Industry ( LCCI), at the ongoing Lagos International trade fair said; “One of the most important objectives we have as a government is to partner with the private sector and private capital to realise the goals and ambitions of government, because those goals such as economic diversification, inclusive growth, job creation and an economy that withers all kinds of shocks, but to achieve this, the most important ally to the federal government is the private sector.”
According to him, “They are the ones that would ensure Nigeria achieves economic diversification, industrialisation, trade and investment both local and international. A wise government must focus on creating an enabling environment the private sector needs. Singapore has been able to transform their economy by attracting investments and creating a hub where people are happy to do business. Nigeria can do the same to achieve the same feat.”
The Minister stated that the lack of enabling environment is a deterrent to entrepreneurship development, saying that entrepreneurship is the heart of economic activities especially in a country like Nigeria where there are little or no employers to provide employment opportunities for the teeming unemployed youths in the country.
He added; ”We must encourage entrepreneurial activity where people do things and by so doing become employers of labour rather being job seekers.”
”Our ministry should be considered as a ministry of enabling environment for industry trade and investment. When I joined this government, I made a commitment to say if I do not work on anything else, I will work on enabling environment for businesses. The government owes the business community a duty to give the business community an environment in which they can thrive, so that all the bottlenecks that hinder businesses will be addressed. Without enabling environment, the government suffers because we do not get the kind of growth or revenue to work with and certainly our stakeholders also suffers, because it takes longer to do things and it is even a deterrent to entrepreneurship.”
He commended the LCCI on its successful ongoing international trade fair, pointing out the chamber is one of the most important chambers in the country playing a vital role in the government’s quest for economic diversification.
Enalemah said; “We appreciate the tremendous work your are doing not just for Lagos, but Nigeria at large. I can assure you of our support and our commitment to working with you for the greater good of our country.”