Federal Government Intend To Industrialize Nigeria

Federal Government Intend To Industrialize Nigeria

The Nigeria’s Federal Government has intensify it’s commitment to the Nigeria Industry Revolution Plan (NIRP)

The Nigeria’s Minister of Industry, Trade and Investment, Okechukwu Elenemah made this known at the inauguration of the Nigeria Competitiveness Project (NICOP), on Friday.

Elenemah said that the Federal Government was poised to discover it’s commitment through Micro Small, Medium Sized Enterprises (MSMEs) In Nigeria.

Elenemah who was represented by the Ministry’s Permanent Secretary Mr Edet Akpan, said that the MSMEs would be given serious attention due to it’s role in the economic diversification.

He stated that the project which is sponsored by German Development Cooperation (GIZ) and the European Union (EU),  would complement issues with otheer government initiatives.

He said Nigeria is endowed with human and natural resources and for the Country to attain it’s full potential we cannot ignore the MSMEs and it’s contribution to the Nigerian economy.

In his words “As a developing nation, we are making effort to transform the economy by the initiation of programs that will help improve the standard of living”, he stated.

Elenemah also said that the Federal Government was working hard to promote social and political stability especially in the ongoing program for economic diversification.

Karlsen Katil the EU ambassador to Nigeria who also spoke at the event said that the Union in collaboration with GIZ was in support of the NICOP, proposed about 10 million euros for the development of MSMEs.

The Ambassador also noted that the support for MSMEs development became relevant due to increase in population and high rate of unemployment in the country.

In his words “There is no other way to create employment in Nigeria than to produce goods on our own, this is better than exporting raw materials abroad and importing the finished goods”, he said.

The Economic Development Cluster Coordinator GIZ – Nigeria Hans-Ludwig Bruns said NICOP was a Four year project which was commissioned by the German government and the European Union.

He said that, NICOP will assist MSMEs by adding value to and migrate towards new and higher level tasks such as pepper, chilli, tomato, garment and so on.

“NICOP is also aimed at overcoming coordination, promoting structural transformation and linkage failure also improving access to regional and international market”, he said.

NICOP will create support across three major pillars such as technical, access to international investment, he further stated.

 

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