The private sector needs to play a key role in implementing our national priorities and economic agenda, according to Vice President Yemi Osinbajo.
At the opening of the 26th Nigeria Economic Summit in Abuja, on Monday, Osinbajo also said the private sector must contribute towards the articulation of economic strategies that will support trade & investments.
He gave the assurance that the Federal Government was promoting a policy of buying Nigeria goods and part of this is to ensure that the government buys only locally assembled cars.
At the event, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said despite the current recession the Nigerian economy still outperformed many global economies.
According to her, despite the negative growth, the economy demonstrated strong resilience in areas such as production, telecommunications, financial institutions, food and beverage manufacturing, construction services, public administration, and courier services.
“Since the inception of @officialNESG 25 years ago, it has become one of the largest annual gatherings dedicated to finding solutions to the challenges facing the Nigerian Economy.
“It has helped to shape government policies, reforms and sector transformation.
“Despite the recession, Nigeria has outperformed many economies in terms of economic growth.
“Some economic activities also demonstrated strong resilience. They include production, telecommunications, financial institutions, food and beverage manufacturing, construction services, public administration, and courier services.”
The Minister said the Federal Government in partnership with the NESG has been working together on the national implementation plans; as well as the regional and local development plans.
The Chairman of NESG, Asue Ighodalo said the NESG and the private sector must do more to address policy needs.
He said: “We come to the table each year with clear and defined obstacles in search of solutions. The NESG and private sector must do more to address policy needs.
“As far as we may have come, we have not come far enough. Let this 26th Summit be the one where we collectively resolve to shun off greed, nepotism, corruption.
“It is time that we are brave with facing our realities with strength, purpose, and integrity.”
Ighodalo said that China has shown Nigeria what a serious nation can do when it looks back on its history and resolves never to fail its citizens.
He said: “It is essential to note that this comparison with China is not misplaced.
“The Chinese economy is on track to grow by one per cent with almost twice as many cases and as many deaths.
“The Chinese economy has not contracted since 1976 through trade wars and now a pandemic.”
Nigerian Tribune