Vice President Yemi Osinbajo has said effective collaboration between the federal and state governments with the private sector is a sure catalyst for boosting economic growth, economic diversification, and improved productivity.
Osinbajo, who said this on Friday at the closing of the maiden Gombe State Investment Summit in Gombe, stated that improving the business environment is critical to “the prosperity of our great country”.
According to a statement issued on Friday by his spokesman, Laolu Akande, the Vice President added that state governments can further boost economic growth and investments in their respective states by approaching development like a Sovereign State while improving the business environment for small businesses to thrive.
“The future of our country rests in the hands of business owners, the entrepreneurs, all over this state and all of our country.
“The successes that we have seen here in Gombe are substantially on account of the effective collaboration of the private sector, the States, and the Federal Government. Our federation benefits our people when the states and federal authorities alongside private actors think and work together,” Osinbajo said.
The Vice President, who highlighted significant improvements recorded by the Gombe State Government in this regard noted that “as a progressive government, we remain committed to policies and reform efforts that are geared towards economic diversification and improved productivity.”
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Speaking on the Nation-State nexus in development, using Gombe as an example, Osinbajo noted that it was “fascinating that Governor Muhammadu Inuwa Yahaya has approached the development of the State by thinking as a Sovereign State as opposed to thinking as a sub-national.”
He said the governor’s vision to draw up a 10-year development plan – Medium Term Expenditure Framework (MTEF), and determination towards creating an enabling business environment, were key pivots to economic growth.
“And this is as it should be. Gombe could rank very easily as a Sovereign State; its GDP is almost three times the GDP of Gambia and it is almost at the same level as the GDP of Liberia. So, when you compare this state to actual Sovereign States, you will see clearly that the only way to plan the growth of this state is to plan it like you would plan the growth of a country. And I am very happy that Governor Inuwa Yahaya is doing that.
“The state has already started reaping the rewards of its approach towards development.
“One of those is the remarkable feat of attaining the first position in the Sub-national Ease of Doing Business Baseline Survey Report of 2021. I am also informed that Gombe State was recently invited by the world-renowned Royal Institute of International Affairs, popularly known as the Chatham House, to share its experience implementing the State’s health system reforms. These validations from different bodies, local and international could not have come by accident,” Osinbajo added.
Commending Yahaya for his strong leadership and commitment, the Vice President said the governor also commissioned a Needs Assessment Survey, which he noted was “a vital first step towards developing a solid roadmap of reforms and programmes for the progress that we see today.”
Speaking on the state’s investments in human capital and physical infrastructure development, Osinbajo stated that these investments “are the strong foundations for the rapid development led by small and medium enterprises.
“We are proud of the giant strides that Gombe State has recorded so far, but more importantly, we are confident of the successful results of the programmes currently being implemented by the State Government and those that are underway in the areas of health, industrialisation, and agriculture,” he added.
Osinbajo performed the ground-breaking ceremony of the Domagric Integrated Rice Mill, which is located inside the 1000-hectare Muhammadu Buhari Industrial Park.
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