PRIVATE SECTOR REMAINS KEY DRIVER OF NIGERIA’S ECONOMY – SGF

The Secretary to the Government of the Federation (SGF), Senator George Akume, CON, has reaffirmed the critical role of the private sector in driving Nigeria’s economic growth and national development.

Akume made the assertion when a delegation from the Lagos Chamber of Commerce and Industry (LCCI), led by its President and Chairman of Council, Engr. Leye Kupoluyi, paid him a courtesy visit in Abuja. The SGF was represented at the meeting by the Permanent Secretary, General Services Office, Dr. Ibrahim Abubakar Kana, mni.

According to Akume, the private sector remains a pivotal force in advancing the nation’s economy, with the LCCI identified as one of the most influential players within the sector. He assured that the administration of President Bola Ahmed Tinubu remains committed to supporting private enterprises by creating an enabling environment through bold and far-reaching economic reforms.

He noted that the Tinubu-led government’s economic policies are gaining increasing global recognition, citing recent commendation from a World Bank official who described the administration’s reform agenda as “a global reference point.” Akume said such recognition underscores the viability of the reforms and urged Nigerians to continue supporting President Tinubu’s Renewed Hope Agenda, stressing that the policies are already yielding positive outcomes.

Earlier in his remarks, Engr. Kupoluyi acknowledged the significant progress recorded under the Federal Government’s ongoing reform agenda, particularly in the area of macroeconomic rebalancing. He described the reforms—though difficult—as necessary steps toward restoring fiscal sustainability, adding that they have attracted commendation from international financial institutions, including the World Bank and the International Monetary Fund (IMF).

Kupoluyi also praised government efforts to improve transparency and liquidity in the foreign exchange market, describing the measures as essential for trade facilitation, investment planning, and boosting investor confidence.

He further called for the institutionalisation of structured public-private policy dialogue platforms coordinated through the Office of the SGF. According to him, such platforms would enable consistent private sector feedback to inform policy formulation, sequencing, and implementation.