Skip to main content

Nigeria’s Federal Executive Council Approves Presidential Council on Industrial Revitalisation Roadmap

Nigeria’s Federal Executive Council Approves Presidential Council on Industrial Revitalisation Roadmap

Nigeria’s Federal executive Council (FEC) meeting, presided over by President Bola Tinubu, has approved the establishment of a Presidential Council on Industrial Revitalisation Roadmap. This council, chaired by President Bola Tinubu, will consist of 10 subcommittees. The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, provided details about the new Council and its responsibilities. The subcommittees will examine existing policies within various ministries, as well as the Ministry of Industry, Trade, and Investment, and work collaboratively to develop a unified roadmap for industrial revitalisation.

This initiative aligns with the eight-point agenda of President Bola Tinubu and aims to boost investment, job creation, employment, and overall economic growth, with the goal of increasing the GDP growth rate from 3.5% to 7%.

The subcommittees include those focused on consumer credit, commodity exchange, heavy industries and steel development, trade facilitation, ease of doing business, licencing and certification of artisans, trade facilitation and realisation, mining and solid minerals, oil and gas, and creative industries. The subcommittees on defence, industries, and pharmaceuticals have been stepped down.

Angola Edges Nigeria as Africa’s Top Oil Producer (News Central TV)
An employee walks along an upper level walkway aboard the Agbami floating oil production, storage and offloading vessel (FPSO), operated by Chevron Corp., in the Agbami deepwater oilfield in the Niger Delta, Nigeria, on Wednesday, Dec. 2, 2015. Nigeria plans to review agreements for deep offshore oil production to seek more favorable terms in line with the latest industry standards, state-owned Nigerian National Petroleum Corp. said. Photographer: George Osodi/Bloomberg

The FEC also approved the constitution of a committee to review the setup of Free Trade Zones, focusing on incentives, laws, and reforms to stimulate economic benefits within these zones.

Doris Uzoka-Anite on the Industrial Revitalisation Roadmap

“We have a lot of policies, frameworks and guidelines that should help revitalise the industries within these different ministries and agencies. And we’re supposed to collaborate and come up with single roadmap for each of these subcommittees or each of these roadmaps. And that is actually geared towards developing the full industrial revival of the economy in line with the eight-point agenda of Mr. President.

“At the end of this, we expect to see a boost in investment coming into the different industrial sectors.

“We expect to see a boost in job creation and employment and a general increase in our indices, especially our GDP growth rates, which were said to be growing from 3.5% hopefully to 7%. And the GDP base of about 1 trillion which is in line with Mr. President’s vision.

“It is actually because of how to actualize this that we came up with a roadmap to stimulate industrial growth, especially catalysing SME growth and in the whole industrial sectors.”


Labels:

Comments

Post a Comment

Popular posts from this blog

Court orders Okowa government to account for over N200bn education funds, allocations

Court orders Okowa government to account for over N200bn education funds, allocations The Federal High Court sitting in Lagos, in a landmark judgment, has “ordered the disclosure of the spending details of over N200bn public funds collected by the government of former Delta State governor Ifeanyi Okowa from the Universal Basic Education Commission [UBEC] fund and allocations from the Federation Accounts.” The court ordered the Delta State Governor Sheriff Oborevwori to “disclose details of budgetary allocations and actual spending by the Okowa government between 2015 and 2019, including specific projects carried out to improve primary education in Delta State, and the locations of such projects.” The judgment was delivered by Honourable Justice Daniel Osiagor, following a Freedom of Information suit number: FHC/L/CS/803/2019, brought by Socio-Economic Rights and Accountability Project (SERAP). In his judgment, Justice Osiagor held that, “SERAP has cognizable legal right to inquire and
Post a Comment
Read more

Olu Of Warri Defends Tradition, Speaks on Christianity

Olu Of Warri Defends Tradition, Speaks on Christianity  The Olu of Warri, His Majesty Ògíamẹ̀ Atúwàtse III, has dispelled the insinuation that there is a conflict between the traditional thrones and Christendom. The monarch, who stated this when he received the Soun of Ogbomoso land, Oba Ghandi Afolabi Olaoye, Orumogege III, in his Palace in Warri Kingdom, Delta State, said that the two institutions were not necessarily antithetical. He also debunked the assumption that traditional institutions were synonymous with fetishism and the worship of creations made by human beings and reasoning. He, however, noted that the two institutions can play complementary role that will contribute to the growth and development of the country. The Olu, who said he was elated by the Soun’s visit, said the new Ogbomoso monarch’s choice of Warri kingdom as his first place of visit was divinely directed, just as his choice for the throne was divinely ordained. He said that they owe i
Post a Comment
Read more

Many Benefited as Tantita Save Niger Delta From Enviromental Ruins

Many Benefited as Tantita Save Niger Delta From Enviromental Ruins  It is on record over the past twenty years in the Niger Delta region, South-South Nigeria where incessant fire disaster and untimely death was on the increase in weekly basis as result of the activities of illegal oil bunkering, especially the process of local refining popularly known as Kpo-Fire. The menace also renders our young married ladies widows in the ljaw riverine communities because most of their life partners venture into the Kpo-Fire business due to its lucrative nature in making quick money. To proof your doubt, take a tour to any of the ljaw riverine communities across Burutu, Warri South-West, Bomadi, Patani in Delta State, and Southern ljaw, Ekeremor, Nembe and Brass LGAs in Bayelsa State, you will discovered that most of our youths are facially disfigured in parts of their body as result of severe fire accident incurred during cooking and burning (refining) of crude oil to kerosene, fuel and desiel for
Post a Comment
Read more