President Bola Ahmed Tinubu’s recent policy decisions aimed at revitalizing the nation’s economy have garnered praise from the private sector, commending his efforts to bring about positive changes since taking office three months ago.
Thank you for reading this post, don't forget to subscribe!During a private meeting at the State House in Abuja, Tony Elumelu, Chairman of Heirs Holdings and Transcorp Plc, conveyed the private sector’s appreciation for President Tinubu’s policy choices. Elumelu, also the founder of United Bank of Africa (UBA), emphasized that the private sector has found encouragement in the actions taken by the President, which he believes will ultimately benefit all Nigerians, particularly women and youth.
Elumelu stated, “The private sector is encouraged with the bold decisions President Tinubu has taken, and we hope that in the fullness of time, Nigerians will benefit from it because it’s all about the Nigerian people.”
Zaccheus Adedeji, the Special Adviser to the President on Revenue, elaborated on the administration’s efforts to manage Nigeria’s reliance on debt, enhance revenue generation, and introduce reforms aimed at improving the nation’s economic prospects. Adedeji emphasized the focus on the medium to long-term vision for the economy, positioning it for future prosperity.
The Nigeria Employers’ Consultative Association (NECA) emphasized the importance of private sector engagement to achieve the Federal Government’s eight-point agenda. NECA’s Director-General, Adewale-Smatt Oyerinde, stressed the need for coordinated efforts to ensure the success of the agenda, highlighting engagement with key stakeholders and ministries as crucial.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) expressed concern over the lack of credit facilities for small-scale businesses. Dr. Olawale Tunde Fasanya, Director General of SMEDAN, disclosed that only a fraction of existing Micro, Small, and Medium Enterprises (MSMEs) have access to credit facilities, with nano-businesses often overlooked. Fasanya suggested a credit guarantee scheme to boost lending to MSMEs and facilitate their growth.
