Honeywell Calls for Stronger Public-Private Partnership for Sustained Economic Devt

Dike Onwuamaeze

The management of Honeywell Group has advocated that effective public-private partnership (PPP) is needed to build the Nigerian economy and encourage the emergence of businesses that transcend generations.

 This view was expressed by the group Senior Adviser on Government Relations, Mrs. Oluwayemisi Busari, recently in Abuja when she spoke on the sidelines of the 28th Nigeria Economic Summit (NES28), organised by the Nigerian Economic Summit Group (NESG).

She said PPP would enable more businesses and Nigerians to have improved access to electricity and potable water supply as well as help the country to address its inadequate seaports, airports, and roadways facilities that have been stalling the country’s economic growth and ease of doing business, especially the international trade.

Speaking on the importance of government-private sector collaboration, and the role of transformational leadership in economic development, Busari said: “The public and private sectors are like conjoined twins with a symbiotic relationship. Corporate organisations need the government as much as the government requires the support of 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 noted that strategic collaboration between the public and private sectors would play critical roles in tackling difficult challenges that have proved resistant to government-only or business-only solutions, adding that “Nigeria is a blessed country with humongous opportunities. At Honeywell Group, we take pride in putting our money in critical sectors which support the economy and yield profit for our shareholders.”

The company adviser also noted that a lot of public-private collaboration is needed in Nigeria in view of the declining public investment projection of 14.4 per cent of Nigeria’s GDP for the current year compared to 15.2 per cent investment that was made in the preceding year.

Busari disclosed that Honeywell Group is empowering young people in business through its partnership with the Lagos State Employment Trust Fund.

She also shed light on how corporate organisations could build effective corporate governance structures and systems, adding: “Integrity, people, processes, performance, and purpose are integral to who we are at Honeywell Group.

“These tenets form the pillars of our good corporate governance structure. We understand that people are our key assets, and they drive every aspect of the company’s strategy, so we are keen on investing in our people.”