Chief Executive Officer of the Nigeria Economic Summit Group, Dr. Tayo Aduloju has called for deeper engagement between the private sector and government to drive economic transformation in Nigeria.
He argued that current methods of engagement often fail to create tangible change and called for a more collaborative approach to economic development.
Dr. Aduloju made the call while speaking as a panelist at the 2025 Vanguard Economic Discourse, themed “Nigeria’s Economic Outlook 2025: Hardship and Pathways to Sustainable Recovery,” held at the Civic Centre, Victoria Island, Lagos.
According to Dr. Aduloju, real economic progress is made when both the private sector and government co-deliver on specific goals, with clear responsibilities and accountability mechanisms in place
“By the way, there is a pedestrian definition of engagement that would fit that model,” he noted.
“However, in every case that Dr. Khaled presented this morning in Brazil, Indonesia, Malaysia… How these countries grew was there was a consensus in the private sector and a consensus in government that we will co-deliver, we will co-deliver economic transformation.
“If we say today, we want to transform the energy sector, the energy plan will have two sides, what government must do, what business must do, and accountability and responsibility mechanisms to check everybody is doing what they are doing right,” he explained.
Dr. Aduloju also stressed the importance of de-risking Nigeria’s vast infrastructure stock, which he estimated at $3 trillion.
“If you removed, if you depoliticized it, if you de-risked it today, that infrastructure will be attractive to global and local investments,” he said.
He highlighted the need for the private sector to be offered the right incentives and conditions for investing in critical infrastructure, such as ports, rail, roads, and energy.
The CEO drew attention to the difficulties businesses face when attempting to invest in Nigerian infrastructure, citing the long delays faced by the oil and gas sector.
“It’s not enough to say, we have an infrastructure stock for $3 trillion when I can’t invest in a seaport tomorrow morning without bottlenecks that will almost chase me out of the country,” he remarked.
He also pointed out the disconnection between government promises and actual outcomes, using the example of Dangote’s refinery.
“The government said, we are incentivizing Dangote to build the refinery. When refinery is ready, the price of PMS will come down. We didn’t say it. Government officials said it,” he said.
Despite the refinery’s readiness to supply lower-priced fuel, he argued that inconsistent regulation and policy execution remain significant obstacles.
Dr. Aduloju concluded his remarks by emphasising the need for genuine, actionable partnerships between the government and the private sector.
“So when we say consultation that drives development, we are discussing a partnership that transcends the big meetings. We are discussing so, so energy, agriculture,” he said. “Any country that has grown agriculture grows it with a partnership of smallholder farmers being triggered to become highly productive, coupled with large-scale industrial production driven by technology and science. You need both.”
The Vanguard Economic Discourse, an annual event hosted by Vanguard Newspapers, is a platform for public-private sector collaboration to discuss economic development.
It brings together policymakers, industry leaders, economists, and key stakeholders to address Nigeria’s pressing economic challenges and explore actionable recovery strategies.
The post Economic growth requires co-delivery between govt, private sector – Dr. Tayo Aduloju appeared first on Vanguard News.
