According to Adeyemi, the issues require urgent attention to create an enabling environment for businesses to thrive and contribute significantly to the country’s economic development.
She gave the submission at a forum to review the performance of the economy where she advocated for the formulation and implementation of sound pro-business policies and incentives to promote an enabling environment for businesses.
She pointed out that the economy has yet to achieve the expected bounce-back rate, primarily due to inflation and other disruptions, including the contraction of the oil and gas sector.
“Nigeria’s economy has remained resilient with moderate gross domestic product (GDP) growth post-pandemic period, albeit below expectation with a spiraling inflation rate. The non-oil sectors have continued to contribute positively, driven by agriculture, service industries and construction while oil and gas contracted due to low outputs,” Adeyemi said.
She also expressed optimism that Nigeria’s economy could experience a stronger rebound if the incoming administration formulates and implements the right policies.
According to her, Still Earth Holdings, with its diversified portfolios in construction, oil and gas, as well as finance, is uniquely positioned to drive the national economy growth through innovative solutions that promote resilience and sustainability.
Adeyemi equally emphasised the importance of a growth-oriented mindset among policymakers and private sector players to attract local and international investors to the country and increase the risk appetite of businesses.
She noted that the company has been supporting the growth of micro, small, and medium-sized enterprises (MSMEs) by providing them access to credits that enable them to expand their businesses and generate incomes.
Adeyemi further advocated increased funding for MSMEs, especially for women, to accelerate growth, which she believes is the engine of socioeconomic development and job creation.
