Federal Government Advice Private Sector To Invest in Nigeria Not Mindinh The Security Challenges

During the closing ceremony of the 29th Nigerian Economic Summit Group (NESG) in Abuja, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, underscored the critical importance of private sector investment and confidence in Nigeria’s economy in tackling the nation’s security issues. He commended the success of NES #29 and the private sector’s commitment to making greater contributions to the country, believing this commitment would attract foreign investors.

Mr. Olaniyi Yusuf, Chairman of NESG, revealed that the report from the 29th session is still being developed, with recommendations set to be presented to the Minister of Budget and Economic Planning and subsequently to the Federal Executive Council as directed by President Bola Tinubu. He highlighted actions taken by the new administration in response to previous NESG recommendations, such as the removal of the fuel subsidy, agricultural improvements, exchange rate harmonization, the Petroleum Industry Act, and company regulation revisions.

Yusuf encouraged Nigerians to acknowledge the country’s positive achievements while addressing existing challenges. He also mentioned that one notable outcome of NES #29 is President Tinubu’s challenge to generate ideas and solutions for government consideration, with the Governors’ Forum planning similar summits at both the subnational and national levels. NESG is actively working to meet this call from the Governors’ Forum while preparing for another national summit.