Get Guardian on GoogleBusinessman and entrepreneur, Alhaji Ibrahim Dende Egungbohun, has called for stronger private-sector investment in Nigeria, stressing the need for increased collaboration between government and business leaders to stimulate economic growth, create employment opportunities and strengthen the country’s productive capacity.
Egungbohun made the call yesterday after receiving a Bussinessday enterprise development of the year award at the Nigerian business leadership award 2026 in Victoria Island, Lagos State in recognition of his contributions to enterprise development, business growth and the promotion of entrepreneurial initiatives.
He disclosed that Nigeria’s economic transformation would depend largely on the ability of the private sector to mobilise investments, develop sustainable businesses and support policies capable of creating an enabling environment for enterprises to thrive.
According to him, the private sector remains a critical driver of economic development, particularly at a time when the country is confronted with economic challenges, rising operating costs, infrastructure deficits and the need to diversify its revenue base.
He maintained that while government policies and institutional support were important, sustainable economic development could not be achieved without deliberate investments from businesses and individuals with the capacity to create value, expand production and generate employment.
The entrepreneur also emphasised the importance of building stronger partnerships across different sectors of the economy, noting that collaboration between public institutions, private businesses and development stakeholders would help unlock investment opportunities and accelerate national development.
His recognition by BusinessDay, one of Nigeria’s leading business media organisations, underscores the growing importance of enterprise leadership in addressing the country’s economic challenges and advancing sustainable business practices.
Speaking on the significance of the award, Egungbohun described the recognition as an encouragement to deepen his commitment to enterprise development and contribute more meaningfully to the Nigerian economy.
He said awards of such nature should not merely be viewed as personal achievements but also as a call to greater responsibility, particularly for business leaders seeking to make lasting contributions to society.
He added that entrepreneurship should be driven by a commitment to innovation, integrity, job creation and the development of solutions to pressing economic and social challenges.
Egungbohun further called on government at all levels to prioritise policies that would encourage local and foreign investments, reduce unnecessary regulatory bottlenecks and improve access to finance for businesses, especially small and medium-sized enterprises.
He noted that many businesses with the potential to contribute significantly to economic growth continued to struggle with limited access to affordable capital, inconsistent policies and inadequate infrastructure.
According to him, addressing these challenges would not only improve the competitiveness of Nigerian businesses but also position the country as a more attractive destination for investors.
He urged entrepreneurs to remain resilient and embrace innovation despite the difficult operating environment, adding that the ability to identify opportunities and develop sustainable business models would remain essential to succeeding in an increasingly competitive global economy.
Industry observers have consistently identified private-sector participation as a major factor in economic diversification, particularly in developing economies where government resources alone may be insufficient to finance critical infrastructure and stimulate industrial expansion.
“With Nigeria seeking to broaden its economic base beyond traditional sources of revenue, the contribution of entrepreneurs, investors and business institutions has become increasingly significant.”
Egungbohun call reflects a wider argument for a more investment-driven approach to national development, one that places enterprise growth, private capital mobilisation and institutional collaboration at the centre of economic policy.
He reiterated his commitment to supporting initiatives that promote enterprise development and create opportunities for individuals and businesses to contribute to national prosperity.
The BusinessDay enterprise award is expected to further strengthen his profile as a business leader, while reinforcing the importance of recognising individuals whose activities contribute to the advancement of entrepreneurship and economic development.
For Egungbohun, however, the recognition represents more than an honour.
“It is an opportunity to renew the call for a stronger private sector capable of driving investment, creating jobs and helping Nigeria realise its economic potential”.
