Nigeria’s Acting President, Yemi Osinbajo (photo), has said that growth in the country’s economy can only be realized if it is driven by the private sector. Speaking at the second edition of the Presidential Business Forum in Abuja, Osinbajo said the main focus is to sustain the robust private sector partnership in the country, Govandbusinessjournal reports.

“It is our strong believe that sustainable economic growth is only possible if it is private sector led and great attention has been paid as you will possibly find in sustaining private sector leadership especially in the plan of economic recovery and growth plan 2017, which is to be launched next month. The pivot of that plan is the private sector led recovery growth and plan. So, this Forum is an important one for engendering the continuous engagement that this partnership will entail,” he said.

Making a presentation on behalf of the Organized Private Sector (OPS), the President of the Manufacturers Association of Nigeria (MAN), Frank Jacobs, said there are about 12 challenges faced by the sector in Nigeria. According to him, they include access to foreign exchange, diversification of the economy and resource-based industrialization, long-term funding, low investment in agriculture and agro-allied businesses, prohibitive gas pricing for industrial users amongst others.

Anita Fatunji