The Federal Government has said that it will implement the National Industrial Revolution Plan (NIRP) initiated by the immediate past administration of Goodluck Jonathan.
The NIRP contains a blueprint on how to develop Nigeria’s industrial sector through light manufacturing, iron & steel, solid minerals, and SMEs, among others.
There have been fears among manufacturers that the NIRP might be discarded by the Muhammadu Buhari-led administration on the basis that it did not initiate the policy.
But Okechukwu Enalamah, minister for industry, trade and investment, has assured investors that there will not be policy inconsistency this time as his ministry will implement the NIRP in line with current realities.
“Our Industrialisation ambition is hinged on the Nigerian Industrial Revolution Plan (NIRP), launched by the previous government in 2014,” said the minister, while unveiling his blueprint in Lagos.
“It is now time to move that comprehensive document from plan to action. It is now our duty to implement that plan in light of current realities, taking into consideration the lessons learnt in the two years since it was unveiled,” he said.
He further said his ministry is focusing on identifying and supporting a select number of industrial sectors in which Nigeria has comparative advantage.
“We have seen success in our backward integration policies in the cement industry, and sugar is currently trying to replicate that success. In the automotive as well as and cotton, textile and garment (CTG) industries, we are continuing discussions with players and stakeholders to see how we can better implement an industrial policy that creates jobs, profits and prosperity,” he stated.
He added that Nigeria is long overdue to make a shift from being primarily an exporter of commodities and raw materials to being an industrial economy, stressing that manufacturing currently contributes only a tenth to the country’s Gross Domestic Product (GDP), which is much lower than it does in other emerging market economies.
ODINAKA ANUDU
