Ahead of his investiture as the 18th Chairman of the Governing Council of the Chartered Institute of Directors (IoD) Nigeria, today, Alhaji Tijjani Borodo has urged President Bola Tinubu-led administration to create an enabling environment for Nigerian businesses to thrive. Specifically, Borodo explained that the contribution of the private sector to the nation’s economy could not be overemphasised as private sector-driven economy holds the ace to transformation in any stable economy.
The new chairman of IoD made this known in Lagos during a media briefing, saying it was very critical that government provided an enabling environment for businesses to thrive and also contribute positively to the country’s gross domestic product (GDP). Borodo said: “The government must create an enabling environment for businesses to thrive. That is fundamental.
The government must provide infrastructure for growth, electricity, water, security and transportation. I believe if the government does that the private sector would thrive. “The government must work as the enabler. What is critical is that if the enabling environment is provided by the government, the private sector would certainly succeed and we will get to where we need to as a country.
I hope this is what this government is going to do.” While speaking on the reforms and policies this administration already put in place to improve the economy, he said: “Because of where we are and what we are doing for a long time, to correct where we are will require a lot of discipline and sacrifice. But to get to where we want to be, we have to be alive first.
“On palliative, whatever is worth doing, is what doing well. There is no way you will say you have taken enough money to distribute to Nigerians that will solve the problems. If it is a problem of distributing money, how do you deal with inflation? “I think we must go to the root, like what can we do to put in place for the future for us to be able to address the challenges we have now?
People must be able to go back to the farm, they must have security to do their farming. When palliatives are being given, the farmer, rather than giving him cash, can have his farm inputs subsidised, he would be a happier person.”
He added: “The person, who is in the city, can have a situation, where the cost of transportation is lower than what it was. Instead of giving money, create an environment for them to earn a living. Some organisations have reduced the number of working days while the workers work from home. “This will make them save high transportation costs.
There are different things to be done. What is important is the sincerity of the purpose of the government in trying to solve the problem. You have given some money to state governments to go and do palliatives and I learnt that part of the money is loaned from the Central Bank of Nigeria (CBN). “
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