The Minister of Industry, Trade and Investment Otunba Niyi Adebayo has restated commitment of the Federal Government to accelerate Nigeria’s industrial revolution by providing impetus to the Manufacturing Association of Nigeria, MAN, which he described as a catalyst that accelerates the pace of transformation and diversification of the economy.
In his remarks at the MAN’s 50th Annual General Meeting, AGM, in Lagos, Adebayo, MAN has essentially enabled the country to fully utilize its endowments and to depend less on foreign supply of finished goods or raw materials for its economic growth, development and sustainability.
According to him, The manufacturing sector plays a pivotal role as a vehicle for the production of goods and services, creation of employment and generation of incomes.
He said, the present administration of President Muhammadu Buhari in its quest to promote sustainable growth, amongst other things has come up with Nigeria’s National Development Plan (NDP), which focuses on Stimulating growth, Investing in the Nigerian people,Making the economy globally competitive, Diversification of the economy, and Promoting Micro Small &Medium Enterprises (MSMEs).
The Ministry, he said has been identified as one of the key Ministries to drive the implementation of the NDP will therefore, continue to pursue the key five identified pillars towards the implementation of National Development Plan.
These include, Creating an Enabling Environment for Industry, Trade and Investment in Nigeria ; Intensify the implementation of the Nigeria Industrial Revolution Plan (NIRP); Attract long-term local and foreign investment; Champion the cause of Nigeria’s MSMEs, as a means of creating jobs and achieving inclusive growth; Promote the Integration of Nigeria businesses into the regional and global value chain.
He said since assumption of office, he has received briefings from the Departments and Agencies under the Ministry, which has strengthened his conviction that the Ministry is at the centre of economy recovery, growth and development of this country.
“These various engagements have strengthened my resolve and commitment in promoting a virile and well-structured manufacturing sector with effective horizontal and vertical linkages among the various sub-sectors.
“I will, therefore, be holding periodic dialogue and consultations with stakeholders in the manufacturing sector as a determined and committed response to the rapid growth and development of the sector. I want to enjoin you to work together as a team by supporting your leadership with fresh ideas while we continue to leave our doors open for meaningful cooperation and partnership.” Adebayo added.
He reassured the Ministry’s willingness to partner in ensuring the necessary enabling environment that will further stimulate industrialization, accelerate domestic and foreign direct investments, as well as ensure that a coordinated and integrated approach to Nigeria’s Trade and Industrial policy is entrenched.