Private, public sectors must work together ‘to achieve’ goals of recovery plan

The American Business Council (ABC) says public and private sectors must work together for the desired effects of the economic recovery and growth plan (ERGP) to be achieved.

In a statement released by the council, Lazarus Angbazo, its president, said the objectives and strategies of the ERGP were commendable.

Angbazo also said his group believed that faithful implementation of the plan would turn Nigeria into a “vertable competitive global economy”, adding that details on how to attain the objective and action timelines needed to be provided.

“The member-companies of ABC support the federal government’s vision for focused implementation of EGRP and are committed to active partnership with the FGN for success of the EGRP,” he said.

“It should also be realised that a plan is as good as its implementation. The recognition in the plan that the desired economic recovery and growth cannot be attained by the government alone, as this requires partnership and accountability by both government and the private sector.

“Government needs to create the necessary business-friendly environment to empower the private sector to invest in the critical sectors – agriculture, power, manufacturing, solid minerals, transportation, services, etc.

“In this connection, the plan to fully align monetary, fiscal and trade policies will support achievement of the stable macroeconomic environment and the desired growth.”

The council also commended the efforts that has been made to improve the ease of doing business in Nigeria, saying it would empower businesses to contribute to the desired private sector-led economic development.