Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo on Tuesday disclosed that the predominant goal of President Muhammadu Buhari administration was to drive a job-intensive growth of the Nigerian economy.
Addressing a delegation of National Defence College of Tanzania during a visit to the ministry, he said the goal would be achieved through the development of a holistic industrial policy/programme to facilitate backward integration and domestication of production.
Besides, the government would create an enabling business environment to attract and retain investments, and facilitate trade and market access, especially by successfully participating in the Africa Continental Free Trade Area Agreement.
On backward integration, Adebayo said the government’s goal was to increase local production, increase job opportunities and provide foreign exchange through domestication of identified priority products namely automobiles, palm oil, dairy products, sugar, cassava starch and cotton, textiles and garments.
He told the delegation led Brig General M. A. Mhagama that the government was fast-tracking the establishment of the Special economic Zones across the country to drive the industrialisation programme by increasing the concentration of high-quality infrastructure and providing fiscal incentives for local producers in the zones.
“We have also commenced the review of the Nigeria Industrial revolution Plan to reflect our economic realities and aspirations. Some of these realities include the fourth industrial revolution, AfCFTA and climate change.
“These programmes have been developed to boost the production capacity of the nation, provide job opportunities and ensure that the country is heading towards a path of sustainable growth and development. Ultimately, these will enable us to build a prosperous and secure country,” he said.
Mhagama and his team had engaged the Minister on a number of issues bothering on job creation, industrialisation and agriculture.
He said they were in the country to get information on how the government is leveraging its huge population to drive investment and industrialisation.