Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, has restated the government’s commitment to pursuing the five pillars for the implementation of Nigeria’s National Development Plan (NDP 2021-2025).
The administration of President Muhammadu Buhari had, to promote sustainable growth, launched the NDP 2021-2025, a medium-term blueprint envisioned “to make Nigeria a country that has unlocked its potential in all sectors of the economy for a sustainable, holistic, and inclusive national development.”
The Plan, which succeeded the Vision 20:2020 introduced in 2009 and the Economic Recovery and Growth Plan (ERGP) introduced in 2017, which expired in 2020, was focused on stimulating growth, and investing in Nigerians.
It was also focused on making the economy globally competitive, diversification of the economy, and promoting Micro Small &Medium Enterprises (MSMEs).
Speaking at the Second Adeola Odutola Lecture/Presidential Luncheon organised by the Manufacturers Association of Nigeria (MAN) in Lagos, Adebayo said as one of the key ministries charged with driving the implementation of the NDP, his was committed to pursuing the NDP’s pillars.
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He identified the pillars to include creating an enabling environment for industry, trade and investment in Nigeria, intensifying the implementation of the Nigeria Industrial Revolution Plan (NIRP), and attracting long-term local and foreign investments.
Other pillars, according to him, include championing the cause of Nigeria’s MSMEs as a means of creating jobs and achieving inclusive growth, and promoting the integration of Nigerian businesses into the regional and global value chain.
The Minister described the theme of the Lecture, “An Agenda for Nigeria’s Industrialisation for the Next Decade’’ as “very apt.’’
He said the theme took cognizance of the Federal Government’s cardinal objectives of industrialising and diversifying the economy with a view to increasing manufacturing processing and creating job opportunities.
Adebayo stated that the Ministry remained “a willing partner in ensuring the necessary enabling environment that will further stimulate industrialisation, 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.’’
He also said since assumption of office, he has received briefings from departments and agencies under the Ministry, which strengthened his conviction that the Ministry was at the centre of the economy recovery, growth and development.
“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,’’ Adebayo stated.
He, however, reiterated his ministry’s desire to partner with the private sector in moving the manufacturing sector forward.