Business
NACCIMA Hails Private Sector Policy
Director-General, Nigerian Association of Chambers of Commerce, Mines and Agriculture (NACCIMA), Dr John Osemede, has commended Federal Government’s decision to put the private sector in the forefront of economic rebirth.
Osemede, at a forum in Lagos, said the Federal Government had announced to make private sector driven economy a policy thrust at the flag-off of activities for the centenary celebration.
Reports say that Nigeria is celebrating the centenary anniversary of the amalgamation of its Northern and Southern Protectorates by the British colonisers in 1914.
The Federal Government has commenced activities to mark the amalgamation exercise which happened 100 years ago. The celebration will culminate in 2014.
The NACCIMA boss lauded the Federal Government’s decision, saying that it was a proactive attempt to bring about sustainable development in the economy.
“We had a meeting with Mr President and he disclosed the decision to relax and allow the private sector take over the key sectors of the economy,” he said.
Osemede said that a private sector-led economy would accelerate improvement in key areas of the economy with the “constructive engagement“ of the Federal Government.
“We have challenged the Federal Government to allow us to be in the forefront of improving on our power generation, revival of refineries and infrastructural development.
“The private sector can adequately address unemployment, pipeline vandalism and other economic plagues confronting us as a nation.
“These are economic areas of activity that less government involvement will save it money to carry out its other obligations,“ Osemede said.
He said putting in place necessary guidelines and processes to position the private sector to take over economic renaissance of the country was sacrosanct.
According to him, reforms are necessary to hasten social service delivery, banking sector revitalisation, resurgence of industries, reduction of importation and unlimited employment opportunities for the masses.
“Public sector – driven economy has been the cause of the downward trend in the growth of our economy,” he said.