Federal Government Remains Committed to Manufacturing Growth

By November 22, 2016 Investment News

The Federal Government remains committed to the well-being of the manufacturing sector because it is the most viable option towards economic renaissance, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah has said.

The minister said the administration understood the role of manufacturing in the economic development of the country hence, its focus on building an industrialised economy that is strongly based on locally available resources.

Enelamah spoke during the 45th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), Apapa Branch in Lagos,at the weekend.

Represented by an Acting Director in the Ministry, Dr. Francis Alaneme, the minister explained that part of the government’s objective of stimulating the manufacturing sector was to ensure that the country is conducive for business activities and implement deliberate plan to attract strategic investment in critical infrastructure and key sectors in manufacturing.

He said the investment climate encapsulate the ease, time and predictability of operating a business, which was why government set up the Doing Business Technical Committee and Investment Care Committee to facilitate regulatory and procedural reforms for the business environment.

“In addition, the National Competitiveness Council of Nigeria has been created to provide sector platform for promoting initiatives to improve national productivity and competitiveness,” Enelamah added.

He also said the government was continuing with the pursuit and implementation of the Nigeria Industrial Revolution Plan (NIRP) and Small and Medium Enterprise (SME) development programmes, adding that the NIRP was a holistic and integrated roadmap towards an industrialised economy.

“It provides actionable plan across sectors as agro-allied, solid minerals, oil & gas-related industries, construction, and light manufacturing activities,” he said, noting that the NIRP was anchored on the Backward Integration Policy (BIP), development of industrial clusters, parks and cities; development of specific sub-sectorial policies and programmes to stimulate industrial revolution in various sectors.

Source: <The Nation Online>