NEPAD tasks FG on sustaining private-sector devt

The NEPAD Business Group in Nigeria has called upon the President Bola Tinubu-led administration to continue its efforts in fostering private-sector growth throughout the nation. In a recent statement, the group's Chairman, Bashorun J. K. Randle, emphasized the importance of private-sector development for Nigeria's competitiveness in the global market.

Randle stressed the necessity of policies that would attract private investment, bolster local businesses, and create a conducive environment for enterprises to flourish. He stated, "A stronger private sector could contribute to economic growth through job creation, increased productivity, industrialization, and the development of local industries."

The group believes that effective collaboration between the public and private sectors is crucial for mobilizing investment, enhancing productivity, and promoting innovation across key sectors of the economy. Nigeria's Foreign Exchange demand reached $18.34 billion as services surged, while President Tinubu ordered security chiefs to rescue abductees and clear bandit camps.

The NEPG also paid tribute to the late Bamanga Tukur, who played a pioneering role in private-sector development in Nigeria. Randle noted, "His life was defined by service, vision, and dedication to national advancement. In his capacity as Executive President, Grand Patron, and President Emeritus of the African Business Roundtable, ABR, he was instrumental in conceptualising the organization."

Tukur's belief that the African private sector must be at the forefront of wealth creation, employment generation, investment promotion, and sustainable development remains as relevant today as when the NBGN was established, according to the Chairman.