It is conspicuously clear that President Muhammadu Buhari is creating enabling environment for the private sector to thrive. This he has demonstrated in the past with Dangote group of company and Bua group of company and Innoson Vehicles with several waivers granted. Buhari administration threw its support behind Innoson Vehicles and that is why Nigeria's Federal Road Safety Corps, Federal Fire Service, and the Nigerian Police use vehicles from Innoson Vehicles. Also, the Nigerian Air Force (NAF), the Nigerian Army, and the Defence Industries Corporation of Nigeria (DICON) partnered with Innoson Vehicles, with this, the Chairman/CEO of Innoson Vehicles, Chief Innocent Chukwuma was able to expand his investment by opening two new plants, which has a combined capacity to produce 32,000 vehicles per year and employs about 1,000 Nigerians.

Recently, during the event when Air Peace Limited was signing a four-year partnership deal with the Nigerian Football Federation (NFF) to become the exclusive airline sponsor of the country’s national teams, the airline would fly the Nigerian players and officials to Cape Verde with its new Embraer E195-E2 aircraft, the Chairman of Air Peace, Mr Allen Onyema, hailed the President Buhari-led administration for granting airline operators waiver on importation of aircraft, as well as removing Value Added Tax (VAT) from air tickets.

"Mr Onyema explained that the brand new planes Air Peace imported, each one of them, if they are to pay the duty, it would be about 985m per aircraft. Now Onyema bringing 13 aircraft. So multiply N985m by 13. Let’s say almost a billion that the federal government and President Buhari have saved Air Peace. That’s about N13bn that Onyema would have paid as a duty. Three of the aircraft had arrived while the remaining 10 were being expected and the airline had projected to provide over 8,000 jobs with the 13 aircraft on order. It also has purchase rights for 17 of the same aircraft type."

NFF Chairman, Amaju Pinnick and Air Peace CEO, Allen Onyema

The government offers fiscal incentives to private businesses in various ways. Incentives can include free incorporation for SME, tax abatements, tax revenue sharing, grants, infrastructure assistance, no or low-interest financing, free land, tax credits, and other financial resources depending on the government requirements, for example, small businesses with an annual turnover of less than N25 Million are completely exempted from paying company income tax, that is a waiver.

Buhari is laying a foundation for a new Nigeria and the private sector should work along with the government to create an enabling environment to boost the economy. There is no Nigerian entrepreneur who supported the initiatives of this current administration that didn't expand his or her investments, from agriculture, oil/gas, mining, manufacturing, processing, aviation, automotive industries, etc. Unfortunately, it's just a few entrepreneurs that supported the initiatives of this current administration, this is why the active or working-age population (15 – 64 years of age) that increased from 117 million in the second quarter to 122 million in Q4 2020 could not feel the impact.