Minister of State, Industry, Trade & Investment Aisha Abubakar has stressed that establishment of conducive operating environment is a panacea to economic growth.
She said government has acknowledged the role of local and foreign investment in lifting the economy out of doldrums and was channeling efforts to ensure ease of doing business.
The Minister, who was at the Lagos Chamber of Commerce and Industry (LCCI) Investment Conference themed: “Positioning the Nigeria Economy for Diversification and Sustainable Growth”, said government has embarked on the review of limiting factors, including incentives and tariff, stunted growth of the small and medium scale enterprises, cementing infrastructural gaps and creating economic free zones among others.
Mrs. Abubakar said: “Under the current administration, it behooves on us to come together and articulate pragmatic strategies that will arrest the obstacles that hinder developmental efforts. The administration has continued with the Nigerian Industrial Revolution plan as a strategy to drive the economy.”
She appealed to private sector players on periodical engagements to attune themselves to initiatives of government on the ease of doing business.
The minister observed that contributions from the private sector were not only necessary, but were imperative to assist government with policies to create an enabling environment to promote sustainable growth and economic development in Nigeria.
Speaking on policy environment for private sector-led market, Director International & Bilateral Relations, EU Mr. John Clarke advised the country to key into the Economic Partnership Agreement (EPA) pact to successfully drive the government’s diversification campaign.