Former Nigerian Bar Association (NBA) president, Dr. Olisa Agbakoba, has urged the Federal Government to prioritise creating a sustainable business environment rather than competing with private enterprises.
Speaking at the fifth CEO Luncheon Series organised by the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) in partnership with KPMG in Lagos, Agbakoba argued that government’s core responsibility is to establish policies and infrastructure that enable businesses to thrive.
“The government is not a business organisation, and policies should not be treated as business,” he said. “If you create the right environment, entrepreneurs will thrive unhindered. But today, government is competing with the private sector — still building hospitals, running NNPC Limited, even after the Petroleum Industry Act. That is not its role.”
He stressed that once an enabling environment is created, businesses will expand, employ more people, and reduce hunger and unemployment. “The government does not know how to employ people, but it knows how to create an environment where people can be employed,” Agbakoba noted, adding that such an approach would lift millions out of poverty.
Addressing the forum’s theme, “Policy, Reforms and Business in Nigeria: What CEOs Should Know,” he encouraged business leaders to align with government reforms while broadening their understanding of policy dynamics to stay ahead in a fast-changing economy.
Ayo Salami, Partner and Head of Tax, Energy and Resources at KPMG, highlighted that participants were expected to gain insights into fiscal policies, trade regimes, and employment reforms that will shape Nigeria’s economic landscape over the next two years. He noted that recent legal overhauls — replacing 11 outdated laws with a new framework — had removed ambiguities and provided clarity for taxpayers.
FNCCI’s Director-General, Moses Umoru, said the chamber is committed to ensuring that reforms are properly implemented and protected from policy reversals by successive administrations.
Chairman of FDI Advisors Limited, Gabriel Ukpeh, added that attracting foreign direct investment hinges on improving infrastructure, security, electricity, and other elements of the business environment.
The event underscored the consensus among experts that sustained reforms, stable regulations, and a supportive operating climate are essential for unlocking Nigeria’s economic potential.
