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The private sector is key to reducing poverty, says the Nigerian government

The Nigerian government has emphasised the critical role of the private sector in driving economic growth and poverty reduction. This was reiterated by the Minister of Budget and National Planning, Senator Abubakar Bagudu, at the 30th Annual Lift Above Poverty Organisation (LAPO) Development Forum.

Although some media outlets took the minister’s comments out of context, LAPO clarified that he stressed the need for continued partnership with the private sector to advance development goals amid dwindling government revenue.

In a statement by LAPO’s Head of Programme and Corporate Communications, Dr. James-Wisdom Abhulimen, the organisation said the Minister highlighted the importance of non-state actors complementing government efforts in promoting national and economic development, as the government alone cannot bear the full burden.

Represented by the Director of International (Bilateral Economic) Cooperation, Dr. Sampson Ebimaro, the Minister was quoted as emphasising the role of NGOs in covering areas not addressed by government, such as healthcare, environment, economy, public policy, empowerment, and support for vulnerable groups.

He urged alignment with the government’s policy objectives and national development plan from 2021–2025, stating actors must be inclusive, non-selective, and non-discriminatory in meeting the needs of all segments of society.

With slowing growth, a rapidly increasing population, surging unemployment, and high inflation, the minister said NGOs must help the government address these critical challenges.

The rewritten article incorporates relevant keywords, specifies entities, uses subheadings, and improves overall search visibility by highlighting the government’s call for private sector involvement in tackling poverty.

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