Former presidential candidate, Pat Utomi, and Lagos State Governor Babatunde Fashola have said Nigeria will continue to grow poorer except the private sector champions the initiatives to reduce poverty.
They said this at the British American Tobacco Nigeria Foundation 10th anniversary lecture, in Lagos, a statement said on Thursday.
Utomi said the solution to Nigeria's poverty was not money, but passionate commitment to lives, as throwing money at a situation was the worst solution.
He said, "Ultimately, the private sector reduces poverty. As far as I am concerned Nigeria's economy is nonsense, because the economy grows and there is no development. Actually, more Nigerians are poorer today than it was some years back.
"Until we learn to convert human beings to human capital, we would not be able to overcome poverty. The private sector is best for this."
Fashola, said the private sector had a significant role to play in assisting the government in order to eliminate poverty.
Represented by the permanent secretary, Lagos State Ministry of Commerce and Industry, Mr. Wale Raji, the governor said Nigeria would never become a competitive environment until poverty was reduced.
The Punch