Economy:Buhari will support private sector initiatives ---Osinbajo
(Nigeria) President Muhammadu Buhari is keen on actively encouraging
private sector initiatives that can build the Nigerian economy, Vice President
Yemi Osinbajo, SAN.
Saying that if fully utilized, the private sector in the
country has the wherewithal to move the Nigerian economy forward, Prof Osinbajo
noted that the sector needs to be appreciated for what it has to offer at this
critical period, when diversification is the focus of government.
The Vice President spoke over the weekend in Lagos where he
had gone with the Lagos State Governor Akin Ambode and a number of federal
ministers to visit the ongoing construction of the multi billion naira Dangote
Refinery.
The ministers were Power, Works and Housing Minister Raji
Fashola, Industry, Trade and Investment Minister Okey Enelamah, Finance
Minister Kemi Adeosun and Solid Minerals Development Minister, Dr. Kayode
Fayemi
“We can talk about how the private sector contributes to the
economy of a nation and how easily we understand that it is the private sector
that is the engine of growth for any economy. But unless you actually see it in
action, you will not fully appreciate what that means.
“This particular visit is a very important one for us
because it demonstrates very clearly what it means by the private sector being
the engine room of growth in our economy,” he stated after he, the governor,
and the ministers where briefed on the progress of the construction of a
650,000 barrels per day refinery by Alhaji Aliko Dangote and his executives.
The Vice President said the refinery being constructed by
the Dangote Group would contribute to the development of Nigeria, and besides
boosting oil production and the economy as a whole, it will also create
employment for many citizens of the country.
Professor Osinbajo extended the President's encouragement to
Alhaji Dangote and his group.
“I think that just looking at what has been done and looking
at the projections for what would be done here, it is very clear that this is a
part of growth for the nation and that is why supporting what you are doing
here is not a favor that would be done to the Dangote Group but it’s an
important part of our own building the Nigerian economy.”
He further said what is being built in the site is “not just
about building a refinery, it is actually about developing an industrial hub, a
modern industrial hub and enormous undertaking."
Besides the refinery, a huge fertilizer plant expected to be
the biggest in the world is also being constructed on the site at the Lekki
Free Trade Zone in Lagos.
Describing the project as strategic, the VP noted
"looking at just the subsea pipeline alone, it is a strategic asset for
the nation, it is not just commercial, it is a strategic asset.”
Vice President Osinbajo expressed his excitement about the
project, as he pledged more commitment and support from government, while
appreciating the opportunity to look round and see the progress made so far by
the private company in executing the projects.
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