The Vice-President of Nigeria, Prof Yemi Osinbajo, has urged the private sector to take advantage of home-grown innovations. He emphasised that there is a need for the private sector to tap fully into the innovative capacity of Nigerians.

Osinbajo made this statement at the 25th Nigerian Economic Summit Group which was held in Abuja.

Speaking on the theme “Securing our future: The fierce urgency of now”, Professor Osinbajo called on the private sector to take advantage of untapped resources – especially the youth – the nation has to offer.

He said, “I think we must focus on what this country has to offer in terms of all of the resources – both human and natural resources – and also the will, the energy, the innovativeness are all there for the private sector to take.

Osinbajo further stated that a country blessed with both human and natural resources can grow easily.

The VP said, “A country with all that can make growth possible and it’s only a matter of getting things right, moving a few things around, and will be well to the kind of progress to come as a country.”

He said the administration prioritizes implementation of beneficial policies rather than what is politically expedient stating, “We are looking at the fastest way to move from point A to point B.”

Osinbajo noted that one of the key ways the government has fought corruption is through the implementation of electronic and online payment platforms.

The VP expressed optimism that though there are challenges with the implementation of these policies, the administration remains committed to stamping out corruption in the public sector.

He noted that despite the challenges, the government launched the Visa on Arrival policy which has significantly reduced corruption in passport and visa applications.

The VP said that in implementing these electronic platforms, the young people have put all their energy and resources into developing these policies.

He said, “All the great ideas that we have, the young people putting all their energy and resources into them because the country affords us the opportunity to be able to achieve great things.”

He commended the resilience and response of the private sector in coping with economic challenges occasioned by COVID-19.

The private sector should emulate what the government is doing and rise to the aids of youths as well

Government and private sector have a lot to do together regarding repositioning the nation's economic growth and prosperity is concerned.