Tinubu to partner public-private sector on economy growth

President Bola Tinubu has reaffirmed his commitment to the support of robust public-private sector partnerships to grow the country’s economy. 

Tinubu who spoke at an audience on Thursday in Abuja with members of the Board and Management of the Nigeria Economic Support Group (NESG) said his administration’s sustained, bold, and coordinated reforms are anchored on a ‘strong adherence to accountability and transparency.’

The former Lagos State governor reiterated his unequivocal resolve to fully implement the eight priority reform areas under the Renewed Hope Agenda within the next three years.

President Tinubu further said Nigeria is blessed with rich human and natural resources, in addition to deficit opportunities, which can quickly be leveraged into new prosperity.

He called for the urgent exploitation of the country’s diversity for collective gain, with an eye on new think tanks in the agricultural sector and the establishment of a commodity exchange.

“We have gone through the past. I will not look back. The focus of my horse and my race remains forward-looking. We have an abundance of knowledge untapped mineral resources, and an agricultural sector that is God-given, but we tend to shy away from taking those gigantic steps that will result in prosperity for our people.

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“We are not exploiting our diversity for prosperity, we are at each other’s throats, arguing about unnecessary things, instead of thinking and doing for our people,” the President said.

The President added that he was elected for renewed hope—and will not accept excuses from executives in his government as they set out to deliver on his agenda.

“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.”

He commended the NESG for believing in his administration, saying the “bitter pill” must be administered to an ailing nation and economy to build a better future for the country.

“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,” he assured.

Meanwhile, the Chairman of NESG, Mr. Olaniyi Yusuf, welcomed the economic reforms announced by Tinubu, specifically concerning fuel subsidy removal, foreign exchange rate harmonization, food security, and palliatives to sub-national governments.

The NESG Chairman pledged to work with the newly inaugurated cabinet to achieve the eight-point agenda of Tinubu’s administration.

He requested the President to declare open the NESG Summit in October, as well as to direct Heads of Ministries, Departments, and Agencies (MDAs) to partner with them.