LAGOS, Nigeria (FN), Nigerian Bar Association President Dele Oye has faulted the government’s role in managing key industries, pointing to the failures of the Ajaokuta Steel Company and the country’s refineries as evidence of mismanagement.
Speaking at a business forum in Lagos, Oye argued that government involvement in commercial enterprises has stifled growth and innovation. “The government has no business being in business,” he said, stressing that public ownership of industries has led to inefficiency and waste.
He cited the Ajaokuta Steel Company, which has remained largely inactive despite decades of investment, and Nigeria’s refineries, which continue to operate below capacity, forcing the country to rely heavily on imported fuel. Oye said these failures highlight the need for private-sector leadership in driving industrial growth.
Oye urged policymakers to focus on creating an enabling environment for businesses rather than directly managing them. He emphasized that regulatory oversight, infrastructure development, and transparent policies would better serve Nigeria’s economic ambitions.
His comments come amid ongoing debates about privatization and reforms in Nigeria’s energy and industrial sectors, with many analysts calling for a shift away from state-led enterprises toward private investment.
