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Obasanjo: Policy is meaningless without entrepreneurs like Wale Tinubu

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Olusegun Obasanjo says government policies require entrepreneurs like Wale Tinubu to translate economic plans into investment, industrial growth and jobs

Former President Olusegun Obasanjo has highlighted the role of private enterprise in translating government policies into economic development, citing Oando Group Chief Executive, Jubril Adewale Tinubu, among Nigerian entrepreneurs who responded to policy opportunities with investment and enterprise.

Also read: Wale Tinubu Says Nigeria’s Creativity Can Drive Exports

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Obasanjo spoke on Wednesday, September 30, at the groundbreaking ceremony for Aliko Dangote’s proposed $16 billion East Africa Refinery in Lamu, Kenya.

The former president reflected on the relationship between government policy and private-sector investment while explaining how Dangote emerged as a major industrialist.

According to Obasanjo, government policies could only achieve their intended objectives when entrepreneurs were willing to provide capital, take risks and invest in productive ventures.

Obasanjo said some of the policies introduced during his administration were designed to encourage investment and stimulate domestic industrial production.

He noted that the success of such policies depended on entrepreneurs taking advantage of the opportunities created by government interventions.

“I made policies, but my policies would have failed if not for Dangote and others like Wale — Wale, please stand up — and others that took advantage of them,” Obasanjo said.

The former president’s comment highlighted the role of private-sector actors in converting government policy into actual investments and economic activity.

Tinubu’s career in Nigeria’s energy industry provides an example of the relationship between public policy and private investment.

Through Oando, Tinubu has overseen the development of an energy business with interests spanning significant segments of the petroleum value chain.

The company has been involved in various areas of Nigeria’s energy industry, reflecting the role of private capital in expanding activity within the sector.

Obasanjo’s reference to Tinubu therefore placed the Oando executive alongside other entrepreneurs who, according to the former president, responded to policy initiatives by investing in businesses and productive assets.

The former president’s remarks also highlighted the broader relationship between government policy and private-sector investment.

Government policies can establish regulatory frameworks, incentives and economic conditions, but their impact can depend on whether businesses respond with investment and entrepreneurship.

This relationship remains relevant as African economies seek to reduce dependence on raw-material exports, expand local processing and develop greater industrial capacity.

The groundbreaking of Dangote’s proposed refinery in Kenya provided the backdrop for Obasanjo’s remarks, with the former president using the occasion to reflect on the role of entrepreneurs in turning policy ambitions into economic activity.

Also read: Wale Tinubu Says Nigeria’s Creativity Can Drive Exports

His comments placed entrepreneurs such as Dangote and Tinubu within a broader discussion about the role of private investment in Africa’s industrial and economic development.

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Wale Tinubu Says Nigeria’s Creativity Can Drive Exports

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Wale Tinubu says Nigeria’s creativity can become a major export industry, creating jobs, attracting foreign exchange and building sustainable businesses (more…)

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FG Begins Fresh Tax Reform Review Ahead of 2027 Budget

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Nigeria begins a tax reform review ahead of the 2027 Finance Bill, with officials targeting implementation gaps, simpler compliance and stronger investment (more…)

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Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

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Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

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Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

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