Nigeria woos private sector on economic diversification

The Nigerian government on Thursday urged the Organized Private Sector (OPS) to complement its efforts toward diversifying the nation's economy.

Udoma Udo Udoma, the Minister of Budget and National Planning, made the plea at a stakeholder's consultative forum on the 2017-2019 Medium Term Expenditure Framework (MTEF) in Lagos, the nation's economic hub.

Udoma, who spoke on the 2017-2019 MTEF and Fiscal Strategy, enjoined the OPS to collaborate with the federal government in bringing the needed economic change.

The minister said the forum became necessary to create a citizens guide to understanding the government's economic policy and the 2016 budget.

According to him, the government is interested in communicating its plans, vision and strategy in diversifying the economy with the OPS to get their input and advice.

Udoma also said the government needed the support of the OPS in creating positive economic vibes that would attract investors to the country.

He said the government was ready to offer support to the OPS in creating the enabling atmosphere for businesses to thrive.

The minister said the OPS could leverage on the sincerity of government to project the country in good light among critical industry players globally.

He urged the OPS to take advantage of the opportunities to invest in production, agriculture, solid minerals, and manufacturing sectors.

He added that these would help generate foreign exchange through the exports of goods and services. Endit