Effective Public-Private Partnership Key To Building Long-Lasting Businesses – Honeywell’s Busari Says
Honeywell Group’s Senior Adviser on Government Relations, Oluwayemisi Busari, has said that effective public-private partnership is a must-have in building businesses that transcend generations. She shared her thoughts with newsmen on the sidelines of the 28th Nigeria Economic Summit (NES28) held in Abuja, on Monday, November 14, 2022.
According to a World Bank Report, about 800 million people live without electricity; 2.2 billion people lack safely managed drinking water, with congested and inadequate ports, airports, and roadways—stalling economic growth and international trade. Partnerships between public, private, and social sector institutions help create beneficial social change on a large scale.
Speaking on the importance of government-private sector collaboration, and the role of transformational leadership in economic development, Oluwayemisi 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 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.”
Strategic collaboration between the public and private sectors plays a critical role in tackling difficult challenges that have proved resistant to government-only, business-only, and non-profit-only solutions. “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.”
With a public investment projection of 14.4 per cent of Nigeria’s GDP for the current year compared to 15.2% in the preceding year, a lot still needs to be done. Speaking on Honeywell Group’s involvement in nation building, Busari added that Honeywell Group is empowering young people through its partnership with the Lagos State Employment Trust Fund.
Busari also shed light on how corporate organisations can build effective corporate governance structures and systems. “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,” Busari said. ”
Through strategic investments in its portfolio businesses, Honeywell Group has steadily advanced the economic potential of Nigeria, West Africa and the wider continent globally.”
Speakers at the summit included Prof. Yemi Osinbajo, Vice President, Federal Republic of Nigeria, Mrs. Zainab Ahmed, Minister for Finance, Budget and National Planning, Mr. Asue Ighodalo, Chairman, Nigerian Economic Summit Group, and Prince Clem Agba, Minister of State for Budget and National Planning, among other high-profile speakers.
