Defence industry can drive Nigeria’s economy — Nwoko

A member of the Senate Committee on Defence, Senator Ned Nwoko, has said that Nigeria’s defence industry has the capacity to drive economic growth if harnessed.

Nwoko disclosed this at the Defence Industries Corporation of Nigeria (DICON) 60th Anniversary and Maiden Africa Defence Industries Conference at the Shehu Musa Yar’Adua Centre.

Nwoko, whose presence at the event added colour to the occasion, noted that the defence sector is a global powerhouse.

Nwoko was also the Chief Book Launcher at the event.

According to the senator, the defence sector is a global powerhouse, with many countries relying on it as a key driver of their economies.

“In Nigeria, we have the resources and the potential to achieve the same, but this requires considerable investment and active participation from the private sector. We cannot leave everything to the government,” he said.

During his address, he stressed the importance of local production and manufacturing in the sector.

He said he firmly believes Nigeria has the capacity and financial resources to make the defence industry as profitable as our oil, gas, and banking sectors.

“To achieve this, the government must play its part by identifying and supporting specialised companies through licensing and approval, and also by promoting public awareness. With the right investments, we can create jobs, attract investors, and reduce our reliance on imports,” he said.