President Bola Ahmed Tinubu stated that Nigeria’s economy is at a critical juncture and will necessitate unwavering support from the private sector to ensure sustained growth and prosperity. Speaking during an Iftar event in Abuja on Thursday with members of the Nigerian business community, the President expressed gratitude for their support and pledged to engage with them more frequently.
“I would have reached out to you sooner, not during Ramadan, because you are a vital part of my constituency,” the President emphasized. “There is no greater driver of the economy than the private sector. Without the flourishing of the private sector, there can be no growth, prosperity, employment, or development. No matter how promising the rhetoric, nothing will materialize. Thank you for your perseverance. We are at a pivotal moment in our economy.”
Sharing insights from his visit to the New York Stock Exchange in 2023, President Tinubu highlighted Nigeria’s self-belief and determination to foster economic transformation domestically.
“At the New York Stock Exchange, I urged foreign investors to view Nigeria as a premier investment destination. I made it clear that we welcome their involvement to diversify Nigeria’s economy, not because we are incapable of doing so ourselves. Tony Elumelu approached me afterward, expressing appreciation for my statement. We have the capability. Nigeria believes in itself and can always deliver. We are aware of our identity – our first name is Spirit, and our last name is Can-Do.”
President Tinubu reaffirmed his commitment to fulfilling his mandate, stressing that he cannot afford to underperform given the trust vested in him by the electorate. He expressed: “I campaigned for this position and have no grounds to underdeliver as the elected President of the nation. I appreciate the sentiment, and your words tonight are truly inspiring.”
At a separate Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their backing for the administration’s economic initiatives. Tony Elumelu, Chairman of Heirs Holdings, assured President Tinubu of the unwavering support of the Organized Private Sector (OPS).
“On behalf of the OPS, we stand steadfastly behind you. Your efforts to revitalize the economy and businesses are precisely what the country needs. We acknowledge the challenges ahead but are determined to reach our goals. We admire your resolute approach and passion to lead Nigeria towards a brighter future.”
In his remarks, Allen Onyema, CEO of Air Peace, urged business owners and manufacturers to focus on reducing product and service costs. He commended President Tinubu for enhancing the ease of doing business in Nigeria.
“President Tinubu envisions a future for Nigeria where business operations are smoother. The gradual restoration of the ease of doing business is evident, particularly in the aviation sector due to the competent individuals appointed to lead. I also commend our High Commission in the UK for facilitating Air Peace flights to Gatwick Airport.”
Dr. Stella Okoli, pharmacist, and founder of Emzor Pharmaceutical Company, appealed to the President to provide more support for the pharmaceutical industry in Nigeria to attain self-sufficiency and self-reliance.
