WorldStage– The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele has urged businesses in Nigeria to support Federal Government reforms aimed at building one trillion dollars economy by 2030.
Oyedele made the call on Thursday at the 14th Annual BusinessDay CEO Forum in Lagos with the theme: “From Stability to Shared Prosperity”.
He said government alone cannot deliver Nigeria’s next phase of economic growth.
According to him, the country’s economic future would be co-authored by businesses and investors.
Oyedele said that the government had identified growth sectors, priority actions and implementation timelines to support the one trillion dollars target.
He urged local and foreign investors to take advantage of emerging opportunities in the economy.
According to him, stable policies, strong institutions and regulatory certainty remain essential for attracting private capital.
Oyedele assured investors that Nigeria was committed to transparency, policy consistency and the rule of law.
He said businesses should match ongoing reforms with investment, innovation and expansion plans.
According to him, banks should prioritise financing productive sectors instead of short term trading activities.
Oyedele also called on manufacturers to increase domestic production and export capacity.
He urged technology firms to develop solutions to real economic challenges and scale globally.
According to him, family owned businesses should pursue growth into global enterprises.
Oyedele said reforms in the credit economy alone could generate more than 100 billion dollars in additional economic value.
He added that tax reforms were already encouraging formalisation among small businesses.
He hinted that about 10,000 businesses are registering daily with the Corporate Affairs Commission.
Oyedele said supporting those businesses with finance, skills and market access would stimulate growth and jobs.
He identified technology, agro processing, energy, manufacturing and financial services as major growth drivers.
According to him, Nigeria had completed the difficult task of restoring macroeconomic stability.Oyedele said the next challenge was converting stability into investment, productivity and higher incomes for Nigerians.
