The Minister of Power, Works and Housing, Babatunde Raji Fashola, said that the Nigerian government has plans to intensify developmental priorities towards providing basic infrastructures to increasing manufacturing capacity and national productivity.
Fashola explained that policies have been put in place to encourage the private sector to partner with the Nigerian government in the provision of critical infrastructure to make the nation’s real sector of the economy globally competitive.
He revealed that an improved transport infrastructure is expected to improve the time and cost of access to raw materials/finished goods and ensure wider market for the sale of manufactured products.
Fashola, who announced the development at the 2019 edition of the Nigeria Manufacturing Equipment Expo (NME) and Manufacturing Partnership for African Development (mPAD), said the promotion of manufacturing in Nigeria is high on the agenda of the President Muhammadu Buhari-led administration, saying that this informed the flagship policy of the Federal Government known as the Economic Recovery and Growth Plan (ERGP).
The ERGP was designed to focus on stimulating growth in the economy, investing in the Nigerian people and making the economy globally competitive.
The Minister pointed out that the government is committed to enabling the private sector to operate at its optimum capacity in the manufacturing sub-sector of the economy, by creating an attractive environment for better collaboration between the public and private sector.
According to Fashola, “the Muhammadu Buhari-led Federal Government in a bid to create an enabling environment for manufacturing and other businesses has intensified activities in the provision of basic infrastructure such as roads, power generation, rail lines and water”.
The president of the Manufacturers Association of Nigeria (MAN), Mansur Ahmed also said the introduction of the expo and mPAD by MAN is meant to boost the technological base of the Nigerian manufacturing sector, which has been identified as one of the banes for the sector’s growth and development.
He commended the present administration’s significant progress so far in the effort to diversify the economy and its commitment to engage the organised private sector especially through the Industrial Policy and competitiveness council and the Economic Recovery Growth Plan.