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Acting President Yemi Osinbajo on Tuesday launched Nigeria’s Industrial Policy Competitiveness Advisory Council, which would focus on addressing the stubborn bottlenecks hindering industrialization in the country.
The industrial Council The Council which is expected to work on policies that will make the Nigerian Economy competitive was set up in furtherance of the partnership between the government and the private sector, particularly as it relates to industrialization.
The Federal Executive Council at its meeting on the 15th of March 2017 approved the establishment of the council, as a formal channel for partnering with the private sector to get their input, buy-in and feedback on the industrialization programme of the country.
The Council will be chaired by the Vice President and in this case the Acting President while the Minister of Trade and Investment, Okechukwu Enelamah and the Minister of State Trade and Investment Aisha Abubakar will sit on the council as vice chairman and alternate chairman on the public side. Foremost Industrialists and Africa’s Richest, Aliko Dangote is to serve as the chairman of the Council from the Private sector with immediate past chairman of the Stanbic IBTC Bank, Atedo Peterside as alternate Chairman .
Speaking at the inauguration, which took place at the Vice-President’s Conference Room of the Presidential Villa, Abuja, Osinbajo said Nigeria cannot industrialize without the collaboration of the public and private sectors.
“The reason why this is so absolutely important is because, generally speaking, we know that the public sector by itself cannot do business.
Everywhere we have seen examples of government doing industrialization and all of that. It always ended in stagnation. Even the most successful experiments have always ended in stagnation because government simply does not make the best businessmen or women. government is not motivated enough” he said.
The key focus of the Council, he said is implementation,and “it is expedient that we focus and solve all the stubborn problems that drags us away from the path of industrialisation. Such problems such as in sufficient industrial Power,ramping up value added manufacturing and exports must be addressed “Osinbajo said while reeling out the modus operandi of the Council .
He tasked the Council to work on ‘stubborn’ issues of industrialisation to see “how we could get out of the vicious circle of no power,no industry,and other hindering problems,which are
surmountable”.
This Council must walk as a platform for accountability,and we must walk our talk, for the implementation of agreed plans and attainment of set goals, the Acting President said.
He added,”Our industrialisation programme would include specific projects and initiatives,which require partnership between the public and the Private sector”.
The Council is also expected to work with the government to sort out issues of power, the Acting President said noting that “once we able to solve it that’s it. We would have dealt with 40% of the problem if not more”.
Meanwhile, the Minister of Industry Trade and Investment while speaking on the terms of reference for the council said they will make input to the formulation of sectoral and industrial policy,and Government interventions aimed at enhancing the performance of the Nigeria Industrial sector.
According to him, the council would also provide feedback on government policies and programs that affect the Industrial sector;make recommendations,propose initiatives and bring perspectives that promote competitiveness and growth of the Nigerian industrial sector.
The terms of references also includes the council providing input to Nigeria’s trade negotiations and agreements with a view to ensuring that the view of Industry and industrialisation targets are taken into cognisance.
They would also periodically review performance,trends,and issues within the Industrial sector,with a view to proposing interventions to enable investments and competitiveness;and to propose targets for national industrialisation output and investments across major industrial sectors. The council is also expected to track progress made,on specific public and private sector initiatives,that are aimed at transforming the Industrial sector and meeting it’s industrialisation targets.
The President of the Manufacturers Association of Nigeria,(MAN),Frank Udemba Jacobs,who is a member of the Council urged the Federal government to summon and persuade all Nigerians who have up to N250 million in their bank accounts to embrace industrialisation,by owning industries.
Also, Atedo Peterside a key member of the Council also wants the Federal government to ensure younger people become captains of industries by clearing bottlenecks that hinder industrial advancement in the country.
Members of the Council from the Private Sector include: Chairman, Nigerian Breweries and PZ Cussons, Kola Jamodu; Chairman, BUA Group, Abdulsamad Rabi; Chairman, IVM Innoson Group of Companies Limited Dr. Innocent Ifediaso Chukwuma; GMD, Chi Foods Nigeria, Mr. Rahul Savara; Chairman, Flour Mills of Nigeria Plc, John Coumantarous; CEO, Emzor Pharmaceuticals, Stella Okoli; Country Head, Olam; Mukul Mathur; President/CEO Beloxxi Industries Limited Obi Ezeude; MD/CEO FidsonHealthcare Plc; Fidelis Ayebea; Founder, Flutterwave, Iyinoluwa Aboyeji;
Others are President & CEO, GE Business Operations Nigeria, Lazarus Angbazo; CEO, Jumia, Mrs. Juliet Anamah; CEO, SecureID Nigeria Ltd, Mrs. Kofo Akinkugbe; Chairman/C.E.O, AMMASCO International Limited, Ado Mustapha; Chairman, KAM Industries, Kamaldeen Yusuf; Chairman, United Textiles Plc, Adamu Atta; Chairman Candel Corporation; CEO Swift
Networks, Charles Anudu; Chairman, Rumbu Sacks Nigeria Limited, Ibrahim Salisu Buhari; Chairman, Tofa Group, Isiaku Tofa; MD/CEO Proforce Limited, Ade Ogundeyin; President, Manufacturers Association of Nigeria, Frank Udemba Jacobs.
Other Public Sector Members include : Minister for Budget & National Planning, Senator Udoma Udo Udoma; Minister of Finance, Kemi Adeosun; Minister for Agriculture and Rural Development, Audu Ogbeh; Minister for Power, Works & Housing, Babatunde Raji Fashola; Minister for Transportation Rotimi Amaechi; Minister of State, Petroleum Resources
Dr. Ibe Kachikwu, Minister for Mines and Steel Development, Kayode Fayemi; Minister for Science & Technology, Ogbonnaya Onu; and Governor, Central Bank of Nigeria, Godwin Emefiele.
Technical members of the Council include: Economic Adviser to the President, Yemi Dipeolu; Trade Adviser/Chief Negotiator, Chiedu Osakwe; MD, Bank of Industry, Waheed Olagunju; Exec. Director/CEO, Nigerian Export Promotion Council, Olusegun Awolowo; Executive Secretary, Nigeria Investment Promotion Commission, Yewande Sadiku; Statistician-General, National Bureau of Statistics, Yemi Kale; CEO, Economic Associates, Ayo Teriba.
Elizabeth Archibong & Harrison Edeh, Abuja
