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Interview:
Corporate Nigeria (CN) talks to
Dr. Bamanga Tukur, President African Business Roundtable & Chairman NEPAD Business Group
Encouraging Investment
CN: NEPAD Business Group is comprised of leading business organisations that are committed to helping Africa realise its full potential and encouraging investment in sustainable development projects. Please outline the activities of NEPAD in the development of a more prosperous Africa.
Dr. Bamanga Tukur: NEPAD is instituting good political and corporate Governance through the African Peer Review Mechanism. This is assisting African Governments to create an enabling environment for sustainable investment through improved business & Investment climate. There is a more coordinated approach and focused implementation strategy for the provision and maintenance of infrastructure across the continent thus enhancing competitiveness and more effective utilization of resources. NEPAD has encouraged the engagement and utilization of expertise available in Africa’s development institutions such as African Development Bank Group (AfDB), Economic Commission for Africa (UNECA) and the RECs for economic development thus facilitating more donor funding through a more professional presentation of development project. NEPAD has also spurred the integration objectives of the African Union, thus providing a platform for review and facilitation of cross border trade and investments. And with the creation of the NEPAD Business Group, the private sector is more involved in the process of formulation and implementation of economic policies, thus providing a framework for Public Private Partnership for accelerated development.
Given the effects of the global economic downturn, how do you see Nigeria’s economy developing over the next five years?
Dr. Bamanga Tukur: Nigeria’s economy over the next five years will stabilize from the negative impacts of the meltdown over the first two years, especially with more confidence restored in the financial sector and capital markets, and with sustained implementation of necessary reforms in the civil service and critical sectors of the economy, consistent growth will be achieved within the next five years.
Are you confident that the goals set out in the government's Vision 20:2020 are achievable?
Dr. Bamanga Tukur: Yes, the goals are achievable provided there is the political will to provide guided and consistent leadership to drive the processes in a transparent manner, while ensuring focused and committed implementation framework involving all stakeholders – Public sector, Private Sector and the Civil Society.
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