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NIRP to boost yearly manufacturing revenue by N5tr, says Aganga

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Enugu State Deputy Governor, Ralph Nwoye (left); Minister of Industry, Trade and Investment, Olusegun Aganga; and Director-General, Standards Organsation of Nigeria (SON), Dr. Joseph Odumodu during the inaugurated the nation’s first Metrology Institute in Enugu.

Enugu State Deputy Governor, Ralph Nwoye (left); Minister of Industry, Trade and Investment, Olusegun Aganga; and Director-General, Standards Organsation of Nigeria (SON), Dr. Joseph Odumodu during the inaugurated the nation’s first Metrology Institute in Enugu.

MINISTER of Industry, Trade and Investment, Olusegun Aganga has said that the Nigeria Industrial Revolution Plan (NIRP) will boost the yearly revenue earnings of Nigerian manufacturers by up to N5 trillion.

Speaking at the yearly Mechanical Engineers Distinguished Lecture, the Minister noted that the goal of NIRP was to increase the contribution of the nation’s manufacturing sector’s Gross Domestic Product (GDP) from the present seven per cent to more than 10 per cent over the next five years.

With a theme, The Automotive Industry and Nigeria’s Industrialisation, Aganga said President Goodluck Jonathan in a bid to strengthen the economic base of the country, had launched the NIRP as well as the National Enterprise Development Programme (NEDEP).

This step, he added, was expected to usher in a new era for industrial, micro, small and medium enterprises development in the country.

According to him, “The NIRP is the most ambitious and comprehensive roadmap that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.

“It is the flagship industrialization programme ever embarked upon by this country. It will fast-track industrialisation, accelerate inclusive economic growth, job creation, transform Nigeria’s business environment and stop the drain on our foreign reserves caused by importing what we can produce locally”.

Aganga said the NIRP was ambitious and comprehensive because it was based on the sectors that the country has competitive and comparative advantages such as agro-allied, metals and solid minerals, oil and gas industrial activities and construction, light manufacturing as well as services.

“These are sectors where Nigeria could be number one in Africa and in the top 10 globally. The NIRP is geared towards addressing all the major physical constraints impeding industrialisation and aims at improving the nation’s investment climate and promote the patronage of made-in-Nigeria products”.

He further stated that industrial development plans or policies had been developed for cement, sugar, automobile, cotton, textiles and garment, stressing that work had already commenced in some policies including steel, petrochemicals, cocoa, Palm oil, leather and rubber products.

President, Nigeria Society of Engineers (NSE), Ademola Olorunfemi, speaking on the impact of mechanical engineers on the development of the automotive industry, said that division of engineering does not work in isolation but in collaboration with others such as electrical and electronics.


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