Lagos — The Chief Executive Officer of Confederated Facilitators Limited (CFL) Group, Lai Omotola, addressed the press on Friday as part of the company’s end-of-year activities. During his speech, Omotola emphasized the resilience of Nigerians, the importance of entrepreneurial collaboration, and shared his insights on food scarcity and economic predictions for 2025.
Omotola highlighted the challenges faced by Nigerians in the current harsh business environment, stating, “In all these, Nigerians have shown resilience, defied odds, and we are moving towards stability, but the challenges remain daunting. We must keep hope alive and remain positive that one day we will get it right even as the business environment remains harsh.”
He stressed the need for entrepreneurs to collaborate with the government in major sectors such as energy, aviation, agriculture, and infrastructure. “Entrepreneurs need to collaborate with the government in major sectors of the economy like energy, aviation, agriculture, and infrastructure. Our banks need to be more creative in support of the economy. On the side of the government, they need to work harder to gain the trust of the citizens. Transparency and people-oriented programs remain important,” Omotola added.
Omotola called for a collaborative effort and optimism among citizens, emphasizing that change can only occur when everyone contributes. “As citizens, in as much as we cannot be denied our opinion about the government, there is a need to understand that things can only change when everyone pays his quota. We must engage in a collaborative effort and be optimistic.”
Omotola announced strategic initiatives aimed at addressing food scarcity and promoting economic growth. These initiatives include the test run of a premium rice brand and plans to establish an Agric Mall in Lagos.
“On our part this year, in spite of the odds, we are able to forge ahead against all manner of business headwinds. We expanded our property business and have been able to put together documentation for the development of our property business by commencing our project named THE GRACE PROJECT. We project the development of 1 million homes in the next 10 years and we shall be partnering with different stakeholders,” he said.
Addressing the issue of food scarcity, Omotola noted, “The situation of the economy does not give room for many options. People are looking for quality at a cheaper rate. While rice production and importation are insufficient to meet public demand, we believe our efforts will help bridge the gap and stabilize prices.”
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Omotola also underscored the crucial role of entrepreneurs in building the economy, stating, “It is naive to think the government will solve all our problems or provide all the jobs. Entrepreneurs are the ones who build the economy. Nigerians must remain optimistic and focus on opportunities despite the daunting challenges.”
Discussing the quality of the rice being introduced to the market, Omotola said, “The rice we are bringing into the market is the best mill from the North. In terms of quality, we are not disadvantaged. The situation for the economy does not give you so much room for so many options especially for those looking for quality at cheaper rate. Thirdly, the importation and production of rice in Nigeria is not sufficient for the eating public. That is why the price of rice is high. If you produce it, you will always get someone to buy.”
Omotola emphasized the need for the government to focus on adding value to every Nigerian, stating, “Government should focus on how to add value to every single Nigerian irrespective of social standing, class, party affiliation, tribe, or religion. Government must be able to increase the skill of the citizenry to bring value to the forex when they work outside the shores of the country and to GDP when they work within the country.”
He continued, “If you have skills, it can carry you to any part of the world. That way, the government is making money and at the same time you are eradicating poverty. So, the government should stop seeing people as thugs, almajiris, and never-do-well individuals. The government should see everybody as potential material to add value to the country. Then, the government should create infrastructure. When you go to the airport, it tells you that the economy is still asleep. The number of planes you count at any airport in Nigeria is not up to ten. When the airport of any nation is not busy, then you know the economy is asleep. In any commercially driven nation, a plane is landing every five minutes. The airport is always busy.”
Looking ahead to 2025, Omotola predicted a challenging year, stating, “For me, 2025 is going to be very tough. It is going to be a very deciding year. This is because by the end of 2025, the economy won’t be in the front burner again; politics will take over. Six months after December 2025, the presidential candidates of political parties must emerge, campaigning for the 2027 elections. So, 2025 is the only time the government has to turn things around. But you see, if the government would turn things around in 2025, it would have laid the foundation now.”
He concluded by urging everyone to brace up for the challenges ahead, “Because of government bureaucracy, even when they sign the budget, money can’t come out by March while the agitation of the people continues to increase on a daily basis. So, 2025 is going to be tougher, there is no doubt about it. We must all brace up for the challenge. If you have been working at 20 percent capacity, you need to increase it to 40. You have to double everything you are doing to work against the headwinds that are coming.”
Omotola’s address reflects the resilience and determination required to navigate Nigeria’s complex economic landscape, emphasizing collaboration, innovation, and strategic planning for a sustainable future.