The Federal Government has announced plans to establish an Industrial Revolution Work Group aimed at revitalising Nigeria’s manufacturing economy, creating jobs, and supporting long-term economic growth.
This was disclosed by the Minister of State for Industry, Trade, and Investment, John l Enoh, during an interactive meeting in Lagos with representatives of the Manufacturers Association of Nigeria and important industry players.
The meeting sought to collect direct insights regarding difficulties encountered by the manufacturing sector and investigate feasible solutions.
Senator Enoh highlighted the necessity of a drastic strategy to revolutionize industries such as the Nigerian automobile sector.
“The task force, which I will lead, will consist of the OPS chairman and other essential participants.
“We will gather with stakeholders every three months to assess performance and tackle challenges,” Senator Enoh remarked.
He emphasized the significance of collaboration between ministries, especially with the Ministries of Power and Finance, to tackle fundamental industry issues.
The minister emphasized the necessity for legislative evaluations and regulatory changes to improve the business environment in Nigeria. Moreover, he emphasized the government’s dedication to revitalizing the textile sector to create job opportunities for young people.
President of MAN, Francis Meshioye, emphasized the significance of strategic partnership between the government and the private sector.
“The industrial sector, acting as a driver for sustainable economic advancement, continues to serve as a facilitator, intertwined with its cross-sector connections offering the quickest path to realizing economic goals,” he stated.
Recognizing the difficulties faced by the sector, Meshioye voiced optimism about collaborating with the government to develop solutions.
“We are dedicated to partnering with your ministry to formulate and execute policies that will expedite industrial expansion, enhance productivity, and generate employment,” he remarked.
The Director-General of MAN, Segun Ajayi-Kadir, highlighted the important role of the manufacturing sector in Nigeria’s economy despite ongoing difficulties.
He urged the Federal Governmentnt to provide equity funds for micro, small, and medium enterprises, improve infrastructure, and prioritize foreign exchange allocation for manufacturers.
Ajayi-Kadir also advocated for reviewing the timeframe for backward integration of crops and minerals and tackling security challenges.
He called for an educational overhaul to emphasize skill acquisition and urged government institutions to patronize locally produced goods.
“The government should compel all its institutions to patronize locally produced goods for all government contracts and purchases in compliance with relevant legislation and presidential executive orders,” he said.
The interactive event, which placed a strong emphasis on strategic cooperation, creative solutions, and a shared dedication to sustainable economic growth, was a major step towards reviving Nigeria’s manufacturing industry.