NEWS DETAILS: FEDERAL GOVERNMENT ADVISES ON MANUFACTURING FOR ECONOMIC DEVELOPMENT
Following are the details of the news:
The Federal Government of Nigeria has identified manufacturing by local industries as a key to economic sustainability and growth. This assertion was made by the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo while declaring open the 6th Nigerian Raw Materials (NIRAM) Exposition. The event, which was co-located with the 5th Nigeria Manufacturing and Equipment (NME) Exposition of the Manufacturers Association of Nigeria (MAN), was held at the Landmark Events Centre, Victoria Island, Lagos State from March 10-12, 2020.
Prof. Osinbajo, who was represented by the Honourable Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, averred that no other sector provides a stronger linkage to creating jobs, adding value and promoting wealth. He said that manufacturing was at the centre of the federal government’s strategy on sustainable growth and in fulfilling President Muhammadu Buhari’s promise to lift 100 million Nigerians out of poverty over the next 10 years.
Prof. Osinbajo said that Nigeria was at the threshold of making history through manufacturing especially after emerging from the economic recession with reasonable measure of economic stability and positive growth rate.
He said that Nigeria was at the brink of a technological revolution especially with the emergence of the African Continental Free Trade Area (AfCFTA) Agreement which will reposition the Nigerian market and change the way trade is carried out in Africa.
The Vice President pointed out that with recent advances in technology and the fourth industrial revolution, disruption of traditional industries is inevitable and that Nigeria must brace up to it, being the second largest user of the internet with about 117 million users and counting.
Prof. Osinbajo also said that the government is committed to partnering with the organized private sector (OPS). He stated that MAN is considered a strategic partner of government and participant in the on-going negotiations on AfCFTA as well as the implementation task force and therefore must reposition to take the lead to reap the full benefits therein.
Speaking earlier while delivering his Welcome Address, Engr. Mansur Ahmed, President, MAN stated that the theme of the 2020 NIRAM/NME Expo afforded participants an opportunity to examine the state of the manufacturing sector and chart a roadmap for industrial development.He further stated that exhibition on the other hand served a great purpose of improving the status of the nation’s entire manufacturing sector value chain.
While acknowledging the contribution of RMRDC in supporting the programme, Engr. Ahmed stated that the annual expo provides common ground for large, small and medium enterprises to explore new production process in the 4th industrial revolution that offers opportunities in internet of things (IOT), artificial intelligence (AI), additive manufacturing (AM), robotics, etc.
Speaking at the event, the Director-General/CEO, RMRDC, Prof. Hussaini Doko Ibrahim, in his Welcome Address, pointed out that NIRAM Expo was created to serve as a platform for manufacturers to source raw materials locally, obtain accurate information on raw materials as well as enhance efficient synergy in the manufacturing value chain.
Prof. Ibrahim, who was represented by the Director, Technology Development Department, Dr. Abimbola Ogunwusi, stressed that the theme of the expo tagged “The 4th Industrial Revolution and Nigerian Manufacturing Sector” is designed to redirect the national focus towards harnessing the potentials offered by AI, IOT, Robotics machine learning, AM, rapid prototyping, among others to boost manufacturing.
The Director-General commended the efforts and commitment of MAN and traced the history of RMRDC and MAN relationship from inception. He averred that the partnership on the expo has enhanced the achievement of the forum.