Business
FG Committed To Diversifying Economy – Minister

A Lagos State Transport Management Authority (lastma) official arresting an erring commercial driver at Iponri Area of Lagos, recently.
Photo: NAN
The Minister of Trade and
Investment, Mr. Olusegun Aganga, has given the assurance that the Federal Government is committed to encouraging private-sector participation in its bid to diversify the economy.
The drive to diversify the economy base, the minister said, would lead to the creation of more jobs through the promotion of Small and Medium-Scale Enterprises (SMEs).
According to him, the development of an economy depends on its ability to promote small businesses.
Aganga spoke during the third West Africa Edition of the Ernest and Young Entrepreneur of the Year Awards.
Entrepreneurs at the programme called on the Federal Government to create an enabling environment for the effective participation of the private sector to achieve economic growth and development.
The Chief Executive Officer, Seplat Petroleum Company, Mr. Austin Avuru; and the CEO, Computer Warehouse Group, Mr. Austin Okere, were finalists in the master category of the programme, which was attended by business owners in various sectors of the economy.
Avuru called on the government to encourage more private-sector participation in the oil and gas sector.
He said, “I think we would need much less government participation in the downstream and mainstream and we think the government should as much as possible concern itself with very strong regulation, which is what transformation of all the other sectors has done. Government participation is interfering with the growth of the industry.”
The Chief Executive Officer, Alpha Mead Facilities and Management Services, Mr. Femi Akintunde, who emerged winner in the emerging entrepreneur category, also said, “The government must recognise that for us to make progress as a nation, we have to give opportunities to people who have what it takes to make things happen in this country, especially by creating an enabling environment, protecting enterprise and ensuring proper monetary framework.”
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