Economic Diversification: FG Committed To Industrial Revolution Plan – Minister

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(Last Updated On: 2016-11-10)

Sherifah Oyediran

The Federal Government had reiterated its commitment to economic diversification through the revival of Nigerian Industrial Revolution Plan.

The Minister of State, Federal Ministry of Industry, Trade and Investment, Mrs. Aisha Abubakar made the remarks at the year’s International Investment Conference held at Eko Hotel and Suites organized as part of the ongoing 30th edition of the Lagos International Trade Fair.

Abubakar who commended the organisers of the Fair for introducing the investment forum noted that it would provide opportunities for businesses to interact.
She said such forum had become imperative as it could provide direction for the nation’s policy formulators.

Abubakar noted that the  Investment Conference would enable organisers  draw attention to investment opportunities in the non-oil sector.

She emphasised the need for the private  and the public sectors of  the nation’s economy to regularly interact.

She maintained that with the present state of the nation’s economy, the country was left with no other option than to diversify and involve all those who could facilitate the diversification.

As a way of  integrating  the small scale enterprises into the diversification agenda, the minister said the government had been strategising on how best to ensure the nation’s MSME take its rightful position as a main engine of economic growth.
Abubakar further that the Federal Government has approved the establishment of Presidential Council for the purpose of ease of doing business.

She listed other efforts of the ministry toward the diversification and development of the economy top include development of trade zones, development of export and import substitution as well as formulation of some specific policy programmes that would facilitate ease of doing business.

She however expressed optimism that  the Conference would give insights to some of those business opportunity  that could be explored, apart from oil, to boost the nation’s economy.

In his reaction, the public relation officer of Lagos Chamber of Commerce and Industry, (LCCI),  Mr. Segun Alabi the objective of the international conference was to draw attention of the public to the investment opportunity in the non-oil sector of the economy.

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