Our Policy Interactions with Businesses Essential for Economic Growth – Osinbajo

The Federal Government would continue to support the private sector as it plays an important role and contributes to the growth of the economy, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo stated this on Thursday when he received a delegation from the Nigeria Employers’ Consultative Association (NECA) led by its Director-General, Mr. Timothy Olawale, at the Presidential Villa, Abuja.

NECA is the umbrella organization of employers in the organised private sector of Nigeria to provide the forum for the Government to consult with private sector employers, especially on socio-economic and labour policy issues.

The Vice President explained the policy interactions between Government and the organized private sector, describing it as essential.

Prof. Osinbajo further said the Federal Government would keep exploring ways to improve the economy through its policies and reforms.

He said, “Our interaction is a very important one, because it is really part of our policy as a government to ensure private sector participation in the economy. We think that the private sector has a very important role. For us the private sector is essential to the growth of the economy so we must continue to encourage the private sector in every possible way.”

Prof. Osinbajo further assured that matters of concern that require government attention would be decisively tackled through the Ease of Doing Business initiatives to improve the business environment and ensure growth of local businesses.

“We want to continuously engage NECA and the private sector because it is central to what we are doing in respect to the economy,” the Vice President said.

Commending the Vice President for his leadership, Presidential Enabling Business Environment Council (PEBEC), which is chaired by the VP, and the Ease of Doing Business reforms; the NECA DG remarked that the reelection of President Muhammadu Buhari and Vice President Osinbajo was an outcome of their sterling performance in the first term.

In his remarks, the NECA DG said the organization has actively supported and championed government’s efforts at job creation, while he commended “the giant strides made by the Buhari administration in fostering an environment that is hospitable for businesses to thrive through the Ease of Doing Business initiatives.”

He said, “We specifically recognize the passion with which you (VP) have driven the relationship between government and organized businesses in the past four years through your interventions and leadership that you have provided, which have translated into the activities of PEBEC, the ERGP and the Presidential Quarterly Business Forum, which you preside over.

“We have no doubt that the solid foundation that has been laid in the first four years would be built upon and Nigeria would be better for it.”

Laolu Akande
Senior Special Assistant to the President on Media and Publicity