Government And Private Sector Collaboration Drives Economic Growth And Prosperity
Channel: Prof. Yemi Osinbajo
Date: 2022-03-09

Commissioning Of Kimberly-Clark West Africa’s Huggies Diaper Manufacturing Plant

Some core economic objectives of the Nigerian government include facilitating private-sector collaboration, and adding value through diversification and growth of the country’s non-oil sectors so as to boost rapid economic growth, with jobs and prosperity.

This was stated by Vice President Yemi Osinbajo, SAN, on Friday at the official commissioning of the Kimberly-Clark Huggies Diaper Manufacturing Plant in Ikorodu, Lagos State.

With about seven million babies born every year in Nigeria, Prof. Osinbajo observed that the market is huge and that the factory signalled the beginning of greater investments in this and other sectors.

According to the Vice President, not only would the plant provide thousands of good-paying jobs – directly and indirectly – within the next three years, it is an important step in private-sector collaboration with the Federal Government.

“For the Federal Government, every new manufacturing plant is an important step towards our belief that it is private investments, both local and foreign, that must be the pathway to rapid economic growth, with jobs and prosperity,” the VP stated.

Buttressing the importance of the FG’s National Development Plan 2021-2025 in this regard (Government-Private sector collaboration), the Vice President observed that “the success of the Plan depends greatly on a conscious reliance on private enterprise and initiative. So, it only makes sense that the private sector is given every encouragement to play that role.”

The VP noted that it is envisaged that an investment commitment of N348 trillion will be needed over the 4-year period of the Plan, with Government at all levels expected to provide about N49.7 trillion or about 14%, while the private sector is expected to invest N298 trillion or about 86%.

Prof. Osinbajo further disclosed that the Federal Government’s commitment to supporting and collaborating with the private sector “is expressed in the strategic objectives of the National Development Plan, which includes establishing a strong foundation for a diversified economy, investing in critical infrastructure roads, rail, power and broadband, enabling human capital development and improving governance and strengthening security.”


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Oluyemi Oluleke “Yemi” Osinbajo is a Nigerian lawyer and politician who is the current Vice President of Nigeria, in office since 29 May 2015.

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