Vice President Kashim Shettima has called on the organised private sector in Nigeria to actively support the Federal Government’s ongoing policy reforms aimed at stabilising the economy, creating jobs, and ensuring inclusive national development.
Speaking on Tuesday at the 4th edition of the Nigeria Employers’ Summit held in Abuja, Shettima emphasised that the country is undergoing a major transition marked by bold and strategic reforms. The Vice President was represented at the summit by the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson.
According to a statement from the Nigeria Employers’ Consultative Association (NECA), Shettima said President Bola Tinubu’s administration is committed to building a strong, resilient economy where businesses can thrive and where shared prosperity becomes a national reality.
He stated, “The vision of the President Bola Tinubu administration is to build an economy where sustainable enterprises can thrive, create decent jobs, and contribute to a society where prosperity is shared by all, not just a privileged few.”
He noted that the government had recently taken a significant step by gazetting the Preferential Tariff Concessions under the African Continental Free Trade Area (AfCFTA) agreement. This, he explained, is expected to open up new markets for Nigerian exporters by allowing them to access preferential tariffs across the African continent.
Shettima further said that the preferential tariff scheme will not only make Nigerian goods more competitive but will also reduce the cost of importing raw materials and intermediate goods from other African countries, especially benefiting small and medium enterprises (SMEs).
He called on private sector leaders to align their strategies with the ongoing reforms, see them as an opportunity to innovate, and support the government’s drive for inclusive growth and sustainable development. “These reforms are designed to create an environment where sustainable enterprise can flourish,” Shettima added.
Also speaking at the summit, the Minister of Interior, Olubunmi Tunji-Ojo, said the government is focused on removing long-standing challenges that have made it difficult for businesses to grow and compete effectively. He assured the business community that the Federal Government is now more than ever ready to partner with the private sector.
“Before now, there were conditions beyond the control of the private sector that didn’t allow for a more conducive business environment. Since the advent of this administration, we have seen efforts to remove the bottlenecks that impede the growth of business. So, the best time to invest in Nigeria is today,” the minister said.
The Nigeria Employers’ Summit was organised by NECA, a prominent body representing private sector employers across Nigeria. The summit serves as a platform to facilitate dialogue between government and businesses, with a focus on shaping policies and improving the economic environment for employers and workers alike.
NECA’s Director-General, Adewale Smatt-Oyerinde, said the summit aimed to build consensus on the Federal Government’s policy reforms and to explore practical steps that would translate these reforms into tangible gains for businesses.
He stated, “NECA as a body remains determined to work with the government to create an economy that is not only competitive but can serve as a platform to advance the African economy. Our priority is to make sure these reforms are turned into action.”
Nigeria has been implementing a range of reforms under the current administration, including fiscal and monetary policy adjustments, deregulation of the downstream oil sector, unification of exchange rates, and tax reforms. These changes, although challenging, are intended to reduce dependency on oil, boost local production, attract investment, and create jobs.
With the AfCFTA agreement gaining traction and more regional markets opening up, stakeholders at the summit agreed that Nigeria must position its businesses to take full advantage of the opportunities.
The summit ended with a renewed commitment by both public and private sector players to work together to create a more enabling business environment and a resilient economy for all Nigerians.
