President Bola Tinubu underscored the critical role of the private sector in Nigeria’s economic development, emphasizing the need for steadfast support from businesses for sustained growth and prosperity.
Speaking during an Iftar gathering with members of the Nigerian business community at the State House in Abuja on Thursday, President Tinubu expressed gratitude to the business community for their support and pledged to engage with them more frequently.
In a statement by his spokesman, Ajuri Ngelale, President Tinubu reiterated the significance of the private sector as a key driver of the economy, stating, “There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development.”
Acknowledging the challenges facing Nigeria’s economy, Tinubu thanked the business community for their endurance and perseverance, highlighting the pivotal moment the nation is facing. He stressed the importance of private sector resilience in navigating through economic challenges.
President Tinubu shared insights from his visit to the New York Stock Exchange in 2023, where he appealed to investors to consider Nigeria as a prime investment destination. He emphasized Nigeria’s self-belief and determination to drive economic transformation from within, expressing confidence in the country’s ability to deliver on its own.
Reaffirming his commitment to fulfilling his mandate, Tinubu emphasized that he cannot afford to underperform, given the trust placed in him by the electorate.
Responding on behalf of his colleagues, Chairman of Heirs Holdings, Tony Elumelu, expressed solidarity with President Tinubu and lauded his efforts to transform Nigeria’s economy. Elumelu commended Tinubu’s decisiveness and passion for taking Nigeria to the “promised land,” assuring him of the private sector’s unwavering support.
“We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the promised land,” Elumelu said, affirming the private sector’s commitment to collaborating with Tinubu’s administration to achieve sustainable economic growth and development in Nigeria.
