Plans to strengthen Nigeria’s industrial sector were disclosed by Minister of Industry, Trade, and Investment Doris Nkiruka Uzoka-Anite. Uzoka-Anite highlighted the administration’s intention to manufacture a car in the country by December, even if Keke Napep is the first to do it.
“We told them that everybody must come together and sign an MOU—the car manufacturers should sign an offtake agreement with the suppliers of the components and with those who are doing leather in Kano. The MOU is going to be signed by June, and by December, we should produce one vehicle. Even if it’s Keke Napep we start with, we are fine. Let us produce from beginning to end,” Uzoka-Anite stated.
She emphasised the goal of the administration to generate 50 million employment in eight years. Important tactics include lowering export barriers, enhancing trade regulations, and luring investors. “We map out investable opportunities and have a plan so that investors can easily put their money in,” the spokesperson said, outlining the company’s investment strategy.
Man Sets Car On Fire To Celebrate Nnamdi Kanu’s Court Victory, Nigerians React (Video)
According to Uzoka-Anite, the ministry has already gotten commitments for investments totaling at least $30 billion. “More people are coming in and still pledging,” she stated. That conveys a great deal of hope and enthusiasm for Nigeria’s economy.
Efforts are being made to enhance trade by facilitating bilateral agreements and promoting value-added exports over raw materials. The ministry has received support from the WTO to improve standards and reduce non-tariff barriers. “The standard trade development facility support from the WTO is helping us to actually improve the standard of goods that we export,” Uzoka-Anite explained.
To tackle the challenges faced by industries, Uzoka-Anite said they have engaged with over 30 stakeholders to find solutions. The automotive sector and the cotton, textile, and garment value chains are prioritized. “We brought all the car manufacturers, the suppliers of the raw materials, and the component parts together in one room and gave them the mandate that we must produce our own car,” she said.
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.