Industrial Council identifies economic priority areas

The Acting President, Professor Yemi Osinbajo (middle) with members of the Nigerian Industrial Policy and Competitiveness Advisory Council.

Nigeria’s Industrial Policy and Competitiveness Advisory Council has identified five priority areas that it will focus on, to make the Nigerian economy globally competitive.

Minister of Industry, Trade and Investment, Okechukwu Enelamah stated this after the council’s meeting presided over by Acting President, Yemi Osinbajo at the Presidential Villa, Abuja.

Enelamah said power, critical infrastructure, financing, trade, skills and capacity building were identified as priority areas that the council would focus on in its work.

He said the next meeting of the council would focus on implementation solutions that would tackle these areas of priority.

Two work groups
The industry minister said that the Industrial Council grouped itself into two at the meeting and has put modalities in place to work effectively.

“We divided ourselves into groups, work groups that will deal with the critical matters and issues that affect industry and I can tell you that we have gone to work,” Enelamah said.

A member of the council, Abdulsamad Isyaku Rabiu stated that if all the policies were implemented, they would improve Nigeria’s economy.

He said power generation was key to the work of the Industrial Council.

“As we all know, power generation in Nigeria is still at 4000 megawatts in more than 20 yrs.  So, government is very concerned, is very worried and is doing everything possible to ensure that Nigeria has the required power.”

“So the government has invited the private sector and we are working together to see how we can together with government try and come up with areas and modalities to improve most of these critical areas to push the country forward.”

Auto manufacturing hub
Nigeria’s auto manufacturer, Innocent Chukwuma, who is also a member of the council, expressed hope that the policies being rolled out by the Industrial Council would make Nigeria Africa’s auto manufacturing hub.

He said his company was working to bring down the price of automobiles in Nigeria.

Sammie Idika