Chairperson of Still Earth Holdings, the multi-sector diversified group, Oyindamola Adeyemi, has advocated for the formulation and implementation of sound pro-business policies and incentives that promote an enabling environment for businesses to thrive as key factors for building a stronger economy under the incoming administration.
Speaking at The Economist’s The World Ahead 2023 release event, Adeyemi in her address touched on the resilience of the Nigerian economy, as demonstrated by a moderate GDP, propelled by the improved performance of non-oil sectors such as agriculture, the service industry, and construction. However, she also pointed out that the economy has yet to achieve the expected bounce-back rate, primarily due to inflation and other disruptions in the economy, including the contraction of the oil and gas sector resulting from low output.
“The Nigerian economy has remained resilient with moderate GDP growth post-pandemic period, albeit below expectation with a spiraling inflationary rate. The non-oil sectors have continued to contribute positively, driven by agriculture, service industries, and construction while oil and gas contracted due to low outputs,” Adeyemi said at The World Ahead 2023. She also expressed optimism that Nigeria’s economy could experience a stronger rebound after the election and is advocating for the formulation and implementation of the right policies.
In highlighting Still Earth Holdings’ contributions to the petroleum and energy sectors, Adeyemi emphasized the critical role of the subsidiary, Tirex Petroleum and Energy, in providing cutting-edge technologies and innovative solutions that enhance the efficiency of local oil exploration and production processes, ultimately boosting Nigeria’s global competitiveness in the sector.
“One thing I want to leave with you all is that the future is partner-driven. The broader private sector-led growth strategy across all sectors will benefit the nation immensely. The role of business leaders is critical in creating jobs, reducing unemployment, and establishing the conditions necessary for our enterprises to thrive,” she stated. Her address at the event also reinforced her interview titled “Diversified Growth Awaits Nigeria” in the recently published edition of the future-gazing annual by The Economist The World Ahead 2023.
Oyindamola Adeyemi is a notable figure within the Nigerian business ecosystem and a celebrated female leader. As a thought leader, she is a major voice on national economic development.
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