President Bola Tinubu says the Nigerian economy is at a turning point and that he could not afford to underperform in his job as President.
Tinubu made this declaration at a state house dinner with the business community on Thursday, in Abuja.
At the event, the business community through several speakers, had outlined the mounting and challenging issues faced by businesses since the start of the Tinubu administration.
Tinubu acknowledged the support of the private sector for the sustained growth of the economy and thanked them for their endurance and perseverance in these tough times.
In his words:
’There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development.
“No matter how flowery the speeches are, not even a mushroom will grow.
‘’We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’
Key business leaders who attended the event include the Chairman of Air Peace, Allen Onyeama, and Chairman of Heirs Holdings Tony Elumelu.
The Nigerian economy has faced serious headwinds with the coming of the Tinubu administration. The removal of fuel subsidy has seen massive job losses, spiraling inflation of food and products and a record fall in the value of the local currency, Naira.
Several foreign owned businesses especially in the Fast Moving Consumer Goods sector (FMCG) have even existed the country due to the harsh operating conditions.
