By Oluwabukunmi
New York, September 17, 2025 — The Emir of Kano, Sanusi Lamido Sanusi, has urged Nigeria to prioritise private sector participation as a cornerstone of economic growth, warning that government spending alone cannot deliver the scale of transformation required.
Speaking at a high-level investment summit on the sidelines of the 80th United Nations General Assembly (UNGA) in New York, Sanusi emphasised that unlocking Nigeria’s economic potential requires strong collaboration between government and private capital.
“Nigeria cannot rely solely on government spending. The private sector must be given a central role in driving growth and attracting the investments needed to transform the economy,” Sanusi said.
The summit, themed “Mobilising Investments for Economic Growth and Cultural Exchange”, was held at the Henry George School of Social Science Auditorium in Manhattan. It was organised by the National Board for Technology Incubation (NBTI), Newday International, Nigerian Progressive Professionals in the Diaspora, and the All Progressives Congress USA/Continental Diaspora Council (APC USA/CDC).
PPP as a Growth Pillar
Sanusi highlighted Public-Private Partnerships (PPP) as a central pillar for Nigeria’s sustainable development, stressing the urgent need for modern, reliable infrastructure to meet the aspirations of its growing population.
“Building modern, sustainable infrastructure is critical. Without effective PPP frameworks, no meaningful growth can be achieved,” he said.
Dr. Kazeem Kolawole Raji, Director-General of NBTI, represented by Tunde Doherty, reinforced this view, noting that technology incubation is already driving innovation across critical sectors such as agriculture and energy.
Real Estate and Gender Inclusion Take Centre Stage
Professor Tai Balofin, President and Chief Executive Officer of Newday International and Chairman of APC USA, described real estate as a catalyst for foreign direct investment, citing opportunities for sustainable partnerships between Nigeria and the United States.
The First Lady of Osun State, Mrs. Titilola Adeleke, joined by other female leaders including Professor Olufolake Abdulrazaq (Kwara State), Fatima Mohammed Bago (Niger State), Zulaihat Dikko Radda (Katsina State), and Huriyya Dauda Lawal (Zamfara State), emphasised the link between gender inclusion and economic growth.
“Strategic investments must empower women and children through education, health, and agriculture. Breaking gender biases is key to unlocking Nigeria’s full economic potential,” Mrs. Adeleke said.
Tinubu’s Reforms Highlighted
A key highlight of the event was the unveiling of “Two Years of Bold Leadership & Lasting Change: The Tinubu Effect”, a book chronicling the reforms of President Bola Tinubu’s administration. The publication noted the surge in foreign direct investment in Nigeria’s digital economy—from $22 million in Q1 2023 to $191 million in Q1 2024—as evidence of growing investor confidence.
Summit organisers confirmed that new investment pledges were secured in real estate, renewable energy, and technology. Fresh PPP frameworks in oil and gas, maritime, agriculture, and aviation were also announced.
