FG seeks collaborative effort to drive economic growth
President Bola Tinubu
Abdullateef Fowewe
President Bola Tinubu has called for increased cooperation among government agencies, the private sector and international partners to boost economic growth, enhance competitiveness, and maintain stability in the country.
This is coming on the heels of emerging positive economic indicators, suggesting that recent reforms by the administration are beginning to yield results.
Speaking on Monday, during the 30th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Ministry of Budget and Economic Planning, Tinubu outlined his administration’s Renewed Hope Agenda, designed to create an environment that fosters sustainable economic growth and shared prosperity.
This was made known in a statement on Monday, by Vice President Shettima’s spokesperson, Stanley Nkwocha.
Quoting the President, he said, “We are currently completing key infrastructure projects such as roads, railways, and power plants that will enhance connectivity and productivity.
“We are harmonising regulatory processes to reduce the bureaucratic hurdles that have long stifled entrepreneurship and innovation.”
Tinubu who was represented by Vice President Kashim Shettima also highlighted recent economic measures, including the removal of fuel subsidies and the unification of foreign exchange rates, as part of a broader strategy to stabilise the macroeconomic environment.
“These are all part of a broader effort to restore balance to the economy and ensure long-term stability,” he clarified.
While addressing the critical issue of economic inclusivity, President Tinubu said, “Our competitiveness is not just about improving our standing on global indices. It is about ensuring that the Nigerian economy is inclusive, where small and medium-sized enterprises can thrive alongside large corporations, and where every citizen, regardless of location or background, can benefit from economic opportunities.”
Tinubu assured that with the right policies, the right partnerships, and the right level of commitment, Nigeria can emerge stronger, more competitive, and more resilient than ever before.
Earlier, Minister of Budget and Economic Planning, Atiku Bagudu, reiterated the effectiveness of recent government reforms, stating that “there are significant pieces of evidence that reforms and investments are working.
“These governance and institutional reforms have helped to improve our macro-economic performance. Our GDP has been enhanced from 2.98 per cent growth in the first quarter of 2024 to 3.19% in quarter two of 2024, inflation is trending downwards while external reserves are improving,” he added.
