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HomeBusiness NewsEconomyHardship: Omotola calls for private sector-led growth in Nigeria

Hardship: Omotola calls for private sector-led growth in Nigeria

*Announces "Grace Project, "Tech Farmers as new initiatives *Partners Ikeja LG on PPP project

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TheChairman of CFL Group of companies, Lai Omotola has said the current hardship requires a collaborative effort between the government and private sectors, stressing that the entrepreneurs, not politicians, drive change in developed countries.

He emphasized the need for private enterprise to build infrastructure, provide essential services, and create jobs and drive economic growth in the country, expressing optimism that the economic challenges facing Nigeria are surmountable but require capable leadership.

Addressing a press conference to on the state of the nation, also marking the 26th anniversary of CFL group, Omotola criticized Nigeria’s business elite for mismanaging resources, citing alarming statistics: over N40 trillion spent on fuel subsidies, N10 trillion on agriculture, and N8 trillion absorbed by AMCON from bad bank loans.

He lamented the lavish lifestyles of some business leaders, despite being deeply indebted, and the practice of stashing development funds in foreign accounts, perpetuating joblessness and insecurity.

He expressed optimism that, together, Nigerians can overcome current hardships and build a brighter future, reaffirming CFL Group’s commitment to contributing to Nigeria’s development, urging entrepreneurs to adapt to changing government policies and take ownership of national development.

He shared the company’s triumphs, including the resolution of a protracted criminal charge against him and the successful partnership with Ikeja Local Government on a PPP project.

READ ALSO: CHOGM Trip: Foreign object hits, damages Shettima’s plane at JFK Airport, New York

He also announced upcoming initiatives, such as the “Grace Project,” aiming to develop one million homes nationwide, and “Tech Farmers,” leveraging technology to boost agriculture.

By highlighting the potential of private enterprise and the need for responsible leadership, Omotola inspired hope for a better future for Nigeria.

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Contact: editor@thereporterng.com

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