FG should provide enabling environment for private sector – Akande

The President of the Lagos Chamber of Commerce and Industry, Chief Nike Akande, has called on the Federal Government to provide enabling environment for the private sector to thrive.
Akande made the call in an interview with State House correspondents shortly after she led a delegation to meet with Vice President Yemi Osinbajo (SAN) at the Aso Rock Presidential Villa, Abuja on Tuesday.
She described the private sector as the engine of growth that needs the government’s attention.
She said: “We are here to meet the Vice President and discuss with him some areas of the economy and the promotion of the private sector.
“The private sector should be the engine of growth, while the government should provide the enabling environment.
“The Vice President was very receptive to all the points that we mentioned and there is hope that the nation’s economy will improve and we are going to be partners in progress.
“The LCCI is the number one chamber in the country.
“We are over 127 years old and we are always the first to react on areas of economy as it affects not only the private sector but also the public sector.”
Akande also described industrialisation as the key to economic development, employment generation and poverty alleviation.
She said: “The private sector needs encouragement in terms of infrastructure.
“That is what is being addressed today.
“The issue of power is being addressed fully and it will soon be completed.
“We are sure that once we have power, half of the problem is solved.”
Akande also called for the diversification of the nation’s economy as a way of absolving the shock of sharp reduction in oil price.
She added: “We are quite aware and conscious of the sharp decline in the oil price.
“The economy should be diversified.
“We should look at agriculture, industrialisation and solid minerals.
“These are areas that have not been fully exploited.
“We discussed this with the Vice President.
“He even mentioned the issue of rice.
“Instead of importing rice from Taiwan, rice can be produced in the country and a lot of investment can be made from this.
“Also, we can make a lot of revenue from taxation.
“Some states have done it and it can be done at the federal level.
“It is not just about increasing the VAT.
“We are not asking for that but generally, most people don’t pay tax.
“Let people pay tax and we can get revenue from there.”