2023: Honeywell Group emphasises forward-thinking economic policies

L-R: Honeywell Group’s Managing Director, Mr Obafemi Otudeko; Senior Adviser, Government Relations, Mrs Oluwayemisi Busari; and Chief Investment Officer, Mr Otu Hughes

By Chiazo Ogbolu

Honeywell Group Limited (HGL) has emphasized the importance of public-private sector collaboration and the impact of forward-thinking economic policies as Nigeria approaches 2023 and beyond.

Mrs Oluwayemisi Busari, Senior Adviser, Government Relations, Honeywell Group Limited (HGL), said this in a statement made available to newsmen in Lagos on Tuesday.

Busari and Mr Otu Hughes, Chief Investment Officer, joined over 600 notable leaders in public and private sectors for the 28th edition of the Nigerian Economic Summit (NES28).

The summit, themed ‘2023 & Beyond: Priorities for Shared Prosperity’, saw stakeholders articulating the country’s development imperatives that satisfy the need for economic security, social justice, conscientious governance, political and environmental sustainability.

Busari, speaking on the impact of public-private collaboration and the role of transformational leadership in economic development, noted that the private and public sectors are like conjoined twins with a symbiotic relationship.

She said that 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.

“At Honeywell Group, we ensure that we work closely with the government to drive the economy.

“We believe in forming strong partnerships that will enable positive impact. This goes to the core of who we are as a business,” she said.

Also, Hughes, speaking on macroeconomic stability for Nigeria, said businesses are hard hit by foreign exchange volatility.

He urged government on the needs to cushion this volatility through insightful policies, adding that foreign exchange stability would 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,” he said.

In his presidential address, 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.

He stressed that focus should be on productivity and value addition across all sectors of the economy.

According to the Buhari, “we must free up our environment for business and create an enabling environment to make local and international trade easier.

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