By Nkechi Eze
The Federal Government has reiterated that Nigeria’s private sector remains the engine room of the nation’s economic growth and a central pillar in the drive toward sustainable national development.
The Secretary to the Government of the Federation (SGF), Senator George Akume, CON, made this known in Abuja while receiving a delegation from the Lagos Chamber of Commerce and Industry (LCCI) led by its President and Chairman of Council, Engr. Leye Kupoluyi, on a courtesy visit. The SGF was represented at the meeting by the Permanent Secretary, General Services Office, Dr. Ibrahim Abubakar Kana, mni.
Senator Akume acknowledged the Lagos Chamber of Commerce and Industry as one of the foremost and most influential private sector institutions in the country, noting that its long-standing contributions to commerce, industry, and enterprise development underscore the indispensable role of the private sector in advancing Nigeria’s economic prosperity.
According to him, the Tinubu-led administration recognises that a thriving private sector is essential for job creation, industrial expansion, innovation, and inclusive growth, and is therefore firmly committed to supporting businesses through the provision of an enabling environment anchored on bold and far-reaching economic reforms.
He explained that the current administration’s reform agenda is designed to reposition the Nigerian economy on a sustainable footing, stimulate investment, deepen productivity, and unlock the full potential of the private sector. He added that the reforms, though difficult, are necessary to correct long-standing structural distortions and restore macroeconomic stability.
The SGF further stated that the positive impact of these policies is already attracting international attention, noting that recent commendation by a World Bank official, who described President Bola Ahmed Tinubu’s economic reforms as “a global reference point,” stands as a strong validation of the direction and credibility of the administration’s economic strategy.
He urged Nigerians, including organised private sector operators, to continue to support the Renewed Hope Agenda of President Tinubu, stressing that the reforms are beginning to yield positive outcomes and will deliver even greater dividends in the medium to long term.
Earlier in his remarks, Engr. Leye Kupoluyi acknowledged the significant strides recorded under the Federal Government’s current reform agenda, particularly the push toward macroeconomic rebalancing through tough but necessary measures aimed at restoring fiscal sustainability and strengthening the fundamentals of the economy.
He noted that these reform efforts have not gone unnoticed, pointing out that major global financial institutions such as the World Bank and the International Monetary Fund (IMF) have recognised the progress being made by Nigeria.
The LCCI President specifically commended government initiatives to improve transparency and liquidity in the foreign exchange market, describing them as critical to trade facilitation, investment planning, and the restoration of investor confidence in the Nigerian economy.
Engr. Kupoluyi also called for the institutionalisation of structured public–private policy dialogue platforms, coordinated through the Office of the SGF, to ensure that private sector perspectives and feedback are systematically incorporated into policy design, sequencing, and execution.
He emphasised that closer collaboration between government and the private sector would enhance policy effectiveness, reduce unintended consequences, and accelerate the attainment of Nigeria’s economic transformation objectives.
The meeting underscored a shared commitment by both government and the organised private sector to deepen engagement, strengthen mutual trust, and work together toward building a resilient, competitive, and inclusive Nigerian economy.
