Lagos, Nigeria, December 5, 2024 The Federal Government has announced the establishment of an industrial revolution work group aimed at revitalizing the manufacturing sector, creating more jobs, and driving sustainable economic growth. This announcement was made by the Minister (State) of Industry, Federal Ministry of Industry, Trade, and Investment, Senator John Owan Enoh, during an interactive session with members of the Manufacturers Association of Nigeria (MAN) and other industrial key stakeholders yesterday in Lagos.
The objective of the meeting was to gather first-hand information on the constraints limiting industry performance and to deliberate on practical solutions. Senator Enoh emphasised the need for a radical approach to revolutionise the Nigerian automobile industry and other manufacturing sectors.
“The work group, which I will chair, will include the OPS chairman and other key players. We will meet quarterly with stakeholders to evaluate performance and address challenges,” said Senator Enoh. He highlighted the importance of inter-ministerial collaboration, particularly with the Ministries of Power and Finance, to resolve industry challenges systematically.
Senator Enoh also stressed the need for legislative review and regulatory reforms to facilitate ease of doing business in Nigeria. He reaffirmed the federal government’s commitment to resuscitating the textile industry to create more jobs for youth.
The President of MAN, Chief Francis Meshioye, underscored the importance of strategic collaboration to enhance the performance of the industrial sector. “The industrial sector, as a catalyst for sustainable economic growth, remains an enabler, blurred with its inter-sectoral linkages providing the fastest route to achieving economic aspirations,” he stated.
Chief Meshioye acknowledged the challenges facing the sector but expressed confidence in co-creating solutions with the government. “We are committed to working collaboratively with your ministry to develop and implement policies that would fast-track industrial growth, increase productivity, and create jobs,” he added.
The Director-General of MAN, Mr Segun Ajayi-Kadir, highlighted the sector’s significant contribution to the economy despite challenges. He urged the Federal Government to provide equity funds to micro, small, and medium enterprises, increase infrastructure provision, and prioritise the allocation of foreign exchange to manufacturers.
Mr Ajayi-Kadir also called for a review of the timeframe for backward integration of crops and minerals, strategic tackling of security challenges, and an overhaul of the educational curriculum to emphasise skill acquisition. “The government should compel all its institutions to patronise locally produced goods for all government contracts and purchases in compliance with relevant legislation and presidential executive orders,” he said.
The interactive session marked a significant step toward revitalising Nigeria’s manufacturing sector and achieving sustainable economic growth through strategic collaboration and innovative solutions.
Signed
Dr. Adebayo Thomas,
Director of Press and Public Relations,
FMITI.
