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No bigger driver of the economy than the private sector – Tinubu tells business owners 

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President Bola Tinubu has reaffirmed his commitment to working with the private sector to foster economic growth and development in the country. 

The President made this remark during Iftar on Thursday in Abuja with members of the Nigerian business community.  

According to him, his administration is committed to enhancing the growth of the private sector, which will, in turn, increase economic opportunities in the country. 

Moreover, Tinubu observed that the Nigerian economy is facing a pivotal moment, emphasizing the need for consistent private sector support to maintain growth and prosperity. 

  • ‘’I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.  
  • ‘’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. No matter how flowery the speeches are, not even a mushroom will grow.  
  • ‘’Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’’ the President said. 

What you should know  

In March, President Bola Tinubu set up a Presidential Economic Coordination Council (PECC), appointing the Vice President, Kashim Shettima, 18 ministers, and prominent figures from the private sector as members.  

The PECC also comprised key members of the organized private sectors including Aliko Dangote, Alhaji Abdulsamad Rabiu , Tony Elumelu and Mr. Segun Agbaje , among others.  

  • The President also established an Economic Management Team Emergency Taskforce (EET), tasked with creating and executing a unified emergency economic strategy. 
  • The president has shown a clear willingness to collaborate with the private sector. This approach is evident in the recent developments aimed at tackling the country’s economic challenges. 
  • Through these initiatives, it is apparent that the administration recognizes the importance of private sector partnership in addressing economic issues and fostering growth. 

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