The Nigeria Employers’ Consultative Association (NECA) Thursday said private sector in Nigeria is a cornerstone to economic recovery and development.
President of the association, Taiwo Adeniyi, while speaking on the theme: “Economic Renaissance: Harnessing government reforms and private sector agility,” called for partnership with private sector to ensure development of the economy.
He said while the association recognises the critical role of the ongoing reforms by the President Bola Tinubu-led administration in attracting investment, enhancing productivity, and driving sustainable economic growth, it is essential to note that the true measure of these reforms laid in their effective implementation and the tangible benefits they deliver to businesses and citizens alike.
“The private sector, with its inherent dynamism and innovation, stands as a cornerstone of economic development. Our agility allows us to swiftly respond to market changes, adopt new technologies, and create value. It is this spirit of innovation and resilience that we must harness to complement government reforms.
“By promoting a symbiotic relationship between the public sector’s regulatory framework and the private sector’s dynamism and value creation, our country can achieve sustainable and inclusive economic growth.”
He added that the theme for this year’s summit aims to deepen collaboration and create pathways towards maximising ongoing government reforms by leveraging the capacity and potential of private sector employers.
“We believe this will expedite the achievement of the 8-point “Renewed Hope” agenda of Mr. President towards promoting predictable national development, and fostering inclusive growth.
“Since the beginning of this administration, the government has embarked on an ambitious agenda of reforms aimed at revitalising our economy. These reforms span various sectors, including agriculture, manufacturing, energy, and digital technology.
“It also includes significant measures such as the removal of fuel subsidy, the Forex Unification policy, and ongoing omnibus monetary and fiscal reforms led by the Presidential Fiscal Policy and Tax Reform Committee under Mr. Taiwo Oyedele.
“While we commend these efforts and recognise their critical role in attracting investment, enhancing productivity, and driving sustainable economic growth, it is essential to note that the true measure of these reforms lies in their effective implementation and the tangible benefits they deliver to businesses and citizens alike,” he said.
