Joel Ajayi
The Honourable Minister of State Industry, Federal Ministry of Industry, Trade and Investment (FMITI), Senator John Owan Enoh has called for collaboration between Government and the Organized Private Sector (OPS) to build an industrialized nation. The Minister made this call during a Town Hall meeting organized by OPS on Wednesday, December 3, 2024, at Mariotte Hotel, GRA Ikeja Lagos, Lagos State, to address the overwhelming challenges bedeviling the growth of the Nigerian Industrial sector.
Speaking during the meeting, the Hon. 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 country without a turnaround of its industrial sector. The Minister stressed the need for synergy between all relevant stakeholders to ensure sustainable development in the nation’s manufacturing sector.
The Minister listed collaboration/partnership, accountability and transparency as key factors to what he described as ‘movement for a better nation’. He noted that there was the need for an inter-ministerial collaborative effort to achieve the national goal. According to him, “involving the Raw Materials Research and Development Council (RMRDC), an office of government, under the Federal Ministry of Innovation, Science and Technology (FMIST), is very important, as the Council play a crucial role in Nigeria’s industrialization processes”.
Senator Enoh therefore prescribed for the formation of an Industrial Revolution Work Group with multi stakeholder participation that will identify existing challenges in the manufacturing sector, with the aim of providing possible solutions to them. He said the Multi-Stakeholder Group will comprise of stakeholders in FMITI, Ministry of Solid Minerals, Ministry of Agriculture, the RMRDC and the OPS which is made up of MAN, NASME, NECA and the Nigerian Association of Small Scale Industrialists with him as Chairman and DG Manufactuers Association of Nigeria (MAN) as co-chairman, and the Group will meet quarterly to evaluate progress made as they advance in pursuit of the agenda.
In His goodwill message, the Director General and Chief Executive Officer of the RMRDC, Prof. Nnanyelugo Ike-Muonso congratulated the Hon. Minister for Industry, FMITI, for his new appointment. He appreciated the Ministers’ doggedness to industrial growth and development, despite the unprecedented challenges. The DG 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 unrelenting commitment and support to the movement to national self-reliance and economic independence.
The DG pointed out some significant strides of the RMRDC to advancing the manufacturing sector and urged all stakeholder to show their support, He said with these effectively put in place, the sector will experience a turnaround; One of such is sponsoring of the Raw Material Protection Bill which has been presented to the National Assembly to promote 30% value addition to indigenous raw materials resources before export. He said the legislative Bill, when passed, will protect Nigeria’s natural resources and catalyze domestic processing capabilities, thereby reduce the challenges faced by local manufacturers.
According to the DG, another is the launch of the Raw Materials Information 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 material resources, 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 OPS and President MAN Otunba Francis Meshioye and the Director General of MAN Mr. Segun Ajayi-Kadir gave an overview of the industrial sector, with emphasis on the prospects and challenges of the manufacturing sector.
In his presentation, the Mr. Segun Ajayi-Kadir revealed that at 46.5% of industrial output, the manufacturing sector remains the leading contributor to the industrial sector.
He said no economy has developed without the formidable role of manufacturing. “If prioritized, the sector can generate a minimum of $6.72billion 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 value added $118.22 billion in 2023, ranking second in Africa, with the manufacturing sector accounting for $55.74 billion.
The DGMAN now went further to make several recommendations to revitalizing the manufacturing sector among which are: that the National Assembly pass the bill on Fiscal policy and tax reform; The federal government should enforce compliance with existing standards on imported goods; Federal government should provide adequate support for innovation in local production processes: The Federal government should intensify its efforts toward upscaling raw materials development and utilization: etc.
