Osinbajo restates FG’s commitment to working with FSP for economic growth

Vice President, Prof. Yemi Osinbajo, has reiterated the Federal Government commitment to work with Financial and Professional Service Sector (FSP)  for the economic growth and development.

Osinbajo made the assertion during the virtual formal launch of EnterpriseNGR on Thursday in Lagos.

He said that the Federal Government would continue to work with the private sector in delivering its growth agenda.

Osinbajo said the Nigerian economy was poised for revitalisation with the launch of the EnterpriseNGR.

The News Agency of Nigeria (NAN), reports that EnterpriseNGR is a professional policy and advocacy group established with the objective of promoting and advocating for the Financial and Professional Services (“FPS”) sector of Nigeria.

This is with a view to transforming Nigeria into the premier financial services centre in Africa.

“There is no doubt that it is a game changer when the informed Nigerian professionals and business community, speak with one voice on issues of domestic or international business policy.

“EnterpriseNGR, is more ambitious, and has a wider mandate to not only promote the financial and related professional services sector, but also champion the development and transformation of the Nigerian economy,” he said.

According to him, Enterprise NGR will be the leading voice in the transformation of the economy.

He charged the group to take a lead role in making the nation’s business environment more attractive and competitive for both local and foreign investors.

According to him, the EnterpriseNGR initiative which is modeled after similar successful organisations in the United Kingdom (UK) and Singapore, seeks to transform Nigeria into Africa’s foremost centre for financial services.

“There is a need to distinguish slightly that this is a more ambitious initiative and this group has a mandate of championing the transformation of the economy”, Osinbajo said.

Also speaking, the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said that government would engage Enterprise NGR to accelerate economic transformation and as well improve business terrain.

“I would like to use this opportunity to reiterate government’s unwaivering support to the private sector, and to also re-emphasise our readiness to ensure that we create an enabling environment where businesses continue to prosper, and innovation is encouraged in Nigeria.

“I’m confident that the private sector initiatives like EnterpriseNGR will go a long way to improve the business terrain in Nigeria.

“Government is keen to work closely with EnterpriseNGR and its advocacy role, representing the broader financial and professional services sector, as we know your success would significantly impact the broader economy.”

“The importance of your sector as a driver of growth cannot be overemphasised and I’m sure that your work will aid in accelerating the economic transformation of our country.

Also speaking, the Minister of Finance, Budget and Planning, Zainab Ahmed, said the government is open to engaging with EnterpriseNGR to aid the acceleration of the country’s economic transformation and improve its business terrain.

Speaking, the Chief Executive Officer, EnterpriseNGR, Ms Obi Ibekwe, noted that the country’s FPS sector needs to be deepened and for that to happen, the Federal Government must work with players in the FPS sector as well as other stakeholders.

Ibekwe noted that the launch of the group was aimed at promoting and advocating for Nigeria’s FPS sector while adding that the group is set to catalyse the revitalisation of the nation’s economy.

EnterpriseNGR is set to launch its inaugural programme the “Youth of Enterprise” internship programme which aims to recruit and onboard more than five thousand interns in its first year and according to Ibekwe, the goal is to place five thousand interns annually and scale this up to one hundred thousand over the next 10 years.

“This effort reinforces our determination to contribute our quota toward resolving the unemployment problem in Nigeria.

`Working alongside identified partners in the financial and professional services sector, we will engage and recruit graduates for a combination of virtual and in-person internship roles at partner organisations,” she said.

Ibekwe said the FSP sector is critical to every nation and the backbone of all successful economies.

“High performing economies possess a strong and respected Financial and Professional Services sector, which includes banking & finance, insurance, asset management, capital markets, law, accounting, consulting and fintech.

“The cross-cutting nature of the sector makes it impact all other economic sectors, be it technology, oil & gas, manufacturing.

“There is almost a perfect relationship between the performance of financial services and national growth and development,” Ibekwe said.

EnterpriseNGR is positioned to foster a favorable environment for engagement with policy makers and business sector advocacy, both domestically and internationally working in concert with government authorities and other key stakeholders. (NAN)