By Oluwasola Marinho and Stella Azi
The Honourable Minister of State for Industry, Federal Ministry of Industry, Trade and Investment (FMITI), Senator John Owan Enoh, has called for collaboration between Government and the Organized Private Sector of Nigeria (OPSN), to build an industrialized nation. The Minister made this call during a Town Hall meeting organized by the OPSN on Wednesday, December 4, 2024, at the Lagos Marriot Hotel, GRA, Ikeja, Lagos, to address the overwhelming challenges bedeviling the growth of the Nigerian industrial sector.
Speaking during the meeting, the Honourable Minister noted that the manufacturing sector of every nation is critical to the progress in the nation’s economic drive. He said that no country can move from developing to being a developed nation without a turnaround of its industrial sector. The Minister stressed the need for synergy amongst all relevant stakeholders to ensure sustainable development in the nation’s manufacturing sector.
The Honourable Minister listed partnership, accountability and transparency as key necessities to achieve what he described as ‘movement for a better nation’. He stressed the need for an Inter-Ministerial collaboration to achieve the national goal. According to him, “involving the Raw Materials Research and Development Council (RMRDC), an agency under the Federal Ministry of Innovation, Science and Technology (FMIST), on this quest is very important, as the Council plays a pivotal role in Nigeria’s industrialization process”.
Senator Enoh, therefore, prescribed the formation of a Multi-Stakeholder Working Group, with diverse participation amongst stakeholders to identify existing challenges in the manufacturing sector and proffer possible solutions to them. He added that the Multi-Stakeholder Group would comprise stakeholders in FMITI, the Federal Ministry of Solid Minerals, the Federal Ministry of Agriculture and Food Security, RMRDC and the OPSN, which is made up of the Manufacturers Association of Nigeria (MAN), the National Association of Small and Medium Enterprises (NASME), the National Employment Consultative Association (NECA) and the Nigerian Association of Small-Scale Industrialists (NASSI). He also noted that he, alongside the President of MAN, would serve as Co-Chairmen of the Group. He informed participants that the Group would meet quarterly with clear key performance indicators and time-lines set to evaluate progress made as they advance in pursuit of the agenda.
You Might AlsoLike
In his goodwill message, the Director-General and Chief Executive Officer of RMRDC, Prof. Nnanyelugo Ike-Muonso, congratulated the Hon. Minister of State for Industry, on his recent appointment. He appreciated the Hon. Ministers’ doggedness and tenacity in ensuring industrial growth and development for the nation, despite the unprecedented challenges facing the sector. The Director-General eulogized the various initiatives by the Hon. Minister to emancipate the nation from what has been described as colonial perpetuity and economic dominance. Prof. Ike-Muonso pledged his unflinching commitment and support to the movement to national self-reliance and economic independence.
The Director-General pointed out some significant strides of RMRDC towards advancing the manufacturing sector and, therefore, urged all stakeholders to show their support. He added that with all of these effectively put in place, the sector is poised to experience a complete turn-around. One of such contributions, he noted, is the sponsoring of the Raw Materials Protection Bill, which has been presented to the National Assembly to promote 30% value-addition to indigenous primary raw materials before export. He said that the legislative bill, when passed, would protect Nigeria’s natural resources and catalyze domestic processing capabilities, thereby reducing the challenges being faced by local manufacturers.
According to the Director-General, another landmark contribution is the launch of the Raw Materials Information Management System (RMIS), a comprehensive central database to monitor material flows and support industrial planning; an instrument that provides access to national data on all aspects of raw materials; from deposits, distribution, location, quality, quantity and even security around such raw materials, and much more. “The RMIS would enable comprehensive tracking and management of raw materials, fostering strategic industrial development”, he added.
Earlier at the meeting, the Chairman of the OPSN and President of MAN, Otunba Francis Meshioye, MFR and the Director-General of MAN, Mr. Segun Ajayi-Kadir, mni, delivered thought-provoking presentations on the overview of industrial landscape, with emphasis on the prospects and challenges of the manufacturing sector.
In his presentation, the Director-General of MAN, Mr. Segun Ajayi-Kadir, mni, revealed that at 46.5% of industrial output, the manufacturing sector remains the leading contributor to the industrial sector of Nigeria.
He said that no economy has developed without the critical role of manufacturing. “If prioritized, the sector can generate a minimum of $6.72 billion of foreign exchange and contribute over 80% of non-oil export”, he added. He stated that despite the inherent challenges facing indigenous manufacturing, Nigeria’s industrial sector value added $118.22 billion to the economy in 2023, ranking second in Africa, with the manufacturing sector accounting for $55.74 billion.
The Director-General went further to advance several recommendations to revitalize the manufacturing sector. These include:
- that the National Assembly pass the bill on Fiscal Policy and Tax Reforms;
- that the Federal Government should enforce compliance with existing standards on imported goods;
- that the Federal Government should provide adequate support for innovation in local production processes:
- that the Federal Government should intensify efforts towards up-scaling raw materials development and utilization, etc.
