FG inaugurates global technology, investment promotion

The Federal Government, on Tuesday, inaugurated the United Nations Industrial Development Organisation’s first global Technology and Investment Promotion Office in Nigeria.

The establishment of the Nigeria ITPO, the first to be located in sub-Saharan Africa, is a product of the discussions and negotiations between the Minister of Industry, Trade and Investment, Olusegun Aganga, and the UNIDO Director General, Mr. Li Yong, in June, on the desirability of establishing the Office in Nigeria.

Speaking during the inauguration in Abuja, Aganga said that the establishment of Nigeria TIPO signified UNIDO’s confidence in the Nigerian economy, adding that the long term objective of establishing the Office was to drive rapid industrial development, create jobs and expand the industrial base of Nigeria and the ECOWAS region.

His words, “Today, we are making history as we inaugurate the first TIPO in Africa to be located in Lagos, Nigeria. This is a sign of UNIDO’s confidence in the Nigerian economy and the Nigeria Industrial Revolution Plan (NIRP).

In June 2014, I officially requested UNIDO’s contribution to the implementation of the (NIRP) and the National Enterprise Development Programme (NEDEP), by setting up an Investment and Technology Promotion Office (ITPO) in Nigeria. I am delighted that that request has been granted, and it is one of my many parting gifts to my country.

“The long term objective of Nigeria ITPO is to drive the process for rapid industrial development, create jobs and expand the industrial base of Nigeria and the ECOWAS region.

Specifically, the focus will be to promote investment, technology acquisition and transfer and industrial cooperation between developed countries inward (into Nigeria) and outward (to West and Central Africa) in collaboration with UNIDO’s global ITPO Network.

The purpose is to assist the Nigerian Ministry of Industry, Trade and Investment in promoting both inward and domestic investments as well as technology transfer as a means to expand and diversify the local manufacturing sector.

This project is in line with NIRP and NEDEP, as well as the expansion policy of global non-oil trade and trade with ECOWAS regions of Africa.

The minister noted that through the implementation of ITPO, NIRP and NEDEP, Nigeria would achieve be able to achieve inclusive and sustainable industrialisation and economic diversification in the nearest future.

He said, “In January 2014, we launched the Nigeria Industrial Revolution Plan which is the national roadmap to improve our country’s industrial competitiveness and capacity.

The objectives of this five-year plan are to: increase the contribution of the manufacturing sector to GDP to more than 10 per cent and to unleash its potential to diversify the economy and substitute imports and boost exports, with the ultimate goal of creating jobs, generating wealth and ensuring sustained growth.

Similar stories
Obiano receives award for drone technology, digital broadcasting
FG, others deplore execution of Nigerians in Indonesia
Fair to offer innovative solutions in thermo technology