Private sector critical to economic development, poverty alleviation — LAPO

The Lift Above Poverty Organization (LAPO) has reiterated the position of the Federal Ministry of Budget and National Economic Planning that the private sector is critical to driving the economic growth and overall development of Nigeria.

The organization said that the Minister of Budget and National Economic Planning, Senator Abubakar Atiku Bagudu has stressed the need for sustained partnership with the private sector to drive the development agenda in the face of dwindling government revenue.

In a statement by the Head of Programme and Corporate Communications, Dr James-Wisdom Abhulimen, LAPO said the Honourable Minister emphasized the need for non-state actors to complement government efforts in promoting national and economic development as the government cannot bear the burden alone.

Represented by the Director of International (Bilateral Economic) Cooperation, Dr. Sampson Ebimaro, the minister stated: “Essentially, NGOs exist to cover the space not covered by the government by seeking propositions on issues such as health care, environment, economy, public policy, empowerment and support to vulnerable citizens. The government’s policy objectives are very critical for both state and non-state actors, like the NGOs. 

“The role of NGOs is to work with the government through its national development plan. The chairman has already mentioned and talked about our national development plan for 2021–2025. In doing that, the actors must be very inclusive in that it has to be non-selective and non-discriminatory, and you must stick to the overall needs of various areas of society. 

“The growth rate is very slow and the population growth is fast pacing and increasing. unemployment is surging amid high inflation. These are issues which non-governmental organisations must take on board in helping the government to cover the space the government could not cover”, he said.

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