NSACC explores Manufacturing as Springboard for Nigeria’s Growth

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Thursday, March 22, 2018 7.00PM / Proshare WebTV 

Stakeholders at the March, 2018 breakfast meeting of the Nigeria-South Africa Chamber explored “Manufacturing as Springbroad for Nigeria’s Growth” in Lagos. 

It had as guest speaker Mr Femi Edun a Special Adviser to the Minister of Industry, Trade and Investments who gave insight into how Nigeria can reposition its manufacturing sector. 

Mr Edun asserted that Africa was the last frontier for Manufacturing in the global market  and economic system. 

According to him “Africa accounts for 2% of global trade and Manufacturing was key to positioning the continent in the global supply chain”. 

He noted that Africa had two pathways to economic growth, which include Manufacturing and Services, but harped on the need for the region to focus on high-tech manufacturing. 

The Special Adviser to the Trade Minister stressed the need for Nigeria to address issues like Power, Infrastructure and Logistics, to create an enabling environment for the manufacturing sector to thrive. 

Speaking on the Economic Recovery and Growth Plan(ERGP) of the Federal Government, Edun shared with stakeholders that the plan was giving top priority to the manufacturing sector. 

Giving further insight into the ERGP, Mr Edun said it had the National Industrial Revolution Plan had the core focus of repositioning Nigeria as a pre-eminent manufacturing hub. 

Mr Edun also outlined a target of 2ml jobs from the ERGP, driven by manufacturing with a 20% contrbution to the GDP. 

Apart from the NIRP, Edun also intimated the Nigeria-South African Business community of the plans in place to leverage Special Economic Zones, that will drive Industrialization. 

Some of the Special Economic Zones that are top priority for the FG are Lekki, (Lagos State) Aba, (Abia State) Ibaka, (Akwa Ibom State) and Funtua (Katsina). 

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