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Oby Ezekwesili, former education minister and co-founder of Transparency International has declared that the desire by the federal government to improve the economic wellbeing of her citizens must be achieve in collaboration with the private sector.
Ezekwesili, who observed that the private sector is the engine of growth saying that in most economies that thrive, the private sector drives growth and creates jobs and pay taxes to government in order to enable government invest in public goods and services.
“Investment by private sector creates more spot for growth, find new sources of opportunities, attract new investment and expand the capacity of government to even do more”, she said.
Ezekwesili while speaking at the 25th Anniversary celebration of Phillips Consulting Limited (PCL), in Lagos stressed that Nigeria cannot achieve her full potential economically until it starts to pay attention to important matters such as sound policies, strong institutions and efficient and effective private investment which she observe affects the collective development of the country.
In her presentation on the theme of the 25th Anniversary ‘Building Great Insitutions, the former minister of education said that profit or wealth creation should not only be the interest of private sector even as an engine of growth. Adding that corporates should ensure that the idea of corporate governance that establishes a proper legal economic, social and institutional environment should be embrace because permits businesses to achieve the progress and success they desire.
According to her, “In order to build lasting private sector, corporate governance must be anchored on exactly the same ethos, values of good governance of societies that work”.
She commended Folusho Phillips for endowing himself with knowledge that has form the basis of the growth of economies in other countries.
Ezekwesili further observed that if Nigeria was runned on the principles and practices deployed in building private institutions such as Philip consulting, it certainly will not have miserable outcome that we have.
She called for the establishment of several other Philips consulting because when we do according to her, they will represent a sign post that will create our creative dissatisfaction with the poor governance that we have had to wrestle with in the last 57 years of our existence as an independent country.
KELECHI EWUZIE
