Honeywell Group Seeks Public-private Partnership To Boost Economy

Honeywell Group Limited (HGL) has called for public-private sector collaboration in boosting economy.

Executives of Honeywell Group, senior adviser, government relations,

Oluwayemisi Busari, and chief investment officer, Otu Hughes, joined over 600 notable leaders in public and private sectors for the 28th edition of the Nigerian Economic Summit (NES28) held in Abuja.

The hybrid summit themed ‘2023 & Beyond: Priorities for Shared Prosperity’ brought together stakeholders to articulate the country’s development imperatives that satisfy the need for economic security, social justice, conscientious governance, political and environmental sustainability, with the intentional prospect of drawing lessons to set the economic policy agenda for sustainable development.

Honeywell Group executives shared their thoughts with newsmen on the sidelines of the summit, emphasising the importance of public-private sector collaboration, and the impact of forward-thinking economic policies as Nigeria approaches 2023 and beyond.

Speaking on macroeconomic stability for Nigeria, chief investment officer, Otu Hughes, said: “businesses are hard hit by foreign exchange volatility. The government needs to cushion this volatility through insightful policies.

exchange stability will help businesses in planning and decision-making.

“We have invested in the major sectors of the Nigerian economy, such as energy, technology, manufacturing, foods, real estate, infrastructure, and financial services. Our goal is to deliver value and improve lives”

A 2022 World Bank Report suggested that Nigeria’s economy is projected to grow at an average of 3.2 per cent in 2022 to 2024, albeit subject to downside risks, including further declines in oil production and heightened insecurity.

Furthermore, senior adviser, government relations of Honeywell Group, Oluwayemisi Busari spoke on the impact of public-private collaboration, and the role of transformational leadership in economic development.

According to her, “the private and public sectors are like conjoined twins with a symbiotic relationship. Corporate organisations need the government as much as the government requires the support from the private sector. We need to have more relevant policies for businesses, and corporate organisations need to invest in strengthening their relationships with the government by providing the right support.”

Also, the vice president, Yemi Osinbajo, who represented President Muhammadu Buhari, stated that the country’s debt service to revenue ratio should be prioritised in the conversations of the summit.