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‘Nigeria can succeed economically with private sector participation’

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'Nigeria can succeed economically with private sector participation'

Former President of the United Republic of Tanzania, Benjamin Mkapa has urged Manufacturers in Nigeria to advocate for improved business climate, if Nigeria, through the launched economic recovery and growth plan by the Federal government is to become the next production and manufacturing hub in Africa.

Mkapa who was the guest lecturer at the 45th annual general meeting of the Manufacturers Association of Nigeria in Lagos, reeled out strategies applied by the Tanzanian government during his regime that improved the economy of the country, and how the Federal Government of Nigeria can set up mechanisms to monitor private sector growth and inclusiveness in its drive to start a new economy, without adopting a cosmetic approach.

“Nigeria’s private sector is robust with the emergence of key economic players like Aliko Dangote, Mike Adenuga, Tony Elumelu and a few others for putting Nigeria manufacturers on the global map”.

“The country will make meaningful economic strive if the private sector is made key and part of policies introduced by the Nigerian Government”, he stressed.

Read also: Dangote Cement confirms bid for South Africa’s cement company

Mkapa, proffered strategies that can be adopted by the private sector and Nigerian government to promote synergy in the key economic drivers, by “strengthening the economic framework to stimulate growth in the economy, improve and stabilize economic and policy formulation, maintain proper financial management system and operate a transparent and practical taxation system”.

On the part of the Federal Government, the minister of state for budget and National planning, Zainab Ahmed who represented President Muhammadu Buhari, commended the concerns of Mkapa, towards revamping the economy and reiterated the efforts and agenda of the Federal Government through the implementation of the ERGP which has been able to steer the country out of recession.

“To further strengthen the growth of the manufacturing sector, the Federal Government has issued a number of orders on the promotion and patronage of locally made goods, even for government procurements”.

“The investments in infrastructure, roads and power, the 24-hour ports operation, and a host of other policies are all centered at enabling a conducive business environment for local manufacturers”

“The Government is making efforts to stabilize macro economy, build on Agriculture and security, improve transport and infrastructure, ensure energy sufficiency and boost industrialization, with a focus on MSMEs”.

Manufacturers were charged to liaise with the Federal Government at all levels, to begin the synergy with the Federal Government, as the country is reportedly out of its worst hit recession as reported by the National Bureau of statistics.

 

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