According to Dr. Evelyn Ngige, the Permanent Secretary of the Federal Ministry of Industry, Trade, and Investment, President Muhammadu Buhari’s administration is concentrating on weaning Nigeria’s economy off its excessive reliance on oil and gas.
This was said on Monday at the National Council on Industry, Trade, and Investment’s 14th meeting’s opening ceremony in Bauchi.
Remember that the summit couldn’t have occurred at a better time than right now, when the federal government is making every effort to strengthen the economy by finding ways to diversify it away from its current overdependence on the oil and gas sector.
The National Council on Industry, Trade and Investment, chaired by the Honourable Minister of State of Industry, Trade and Investment, Mariam Katagum, is the highest policy advisory body in the sector whose main purpose is to brainstorm, strategise, deliberate and recommend policies and programmes aimed at addressing challenges facing the sector.
“Today, major economies, particularly in the developed world are driven by the industry, trade and investment sectors. We must therefore redouble our efforts towards turning our industry, trade and investment sectors into the main engine of growth of the national economy for the common prosperity of all Nigerians,” Dr Ngige stated.
She further added: “It is important to note that decisions reached by the Council will be escalated for the consideration of the Federal Executive Council, after which the implementation of the decisions will be coordinated by the Federal Ministry of Industry, Trade and Investment.
“In the next two days, our job here as technical officials will be to deliberate on all the memoranda received and recommend appropriate decisions for presentation and consideration by the Ministerial Council on Thursday, 10th November 2022.”
Ngige, who revealed that the council had received over 70 memoranda from various Ministries, Department and Agencies (MDAs) for deliberations and consideration, urged the stakeholders to thoroughly examine them for appropriate recommendations.
She said these recommendations would further strengthen the sector to deliver economic growth and development through industrialisation and increase investment in the local economy for employment generation and wealth creation.
In her address, Hajiya Zainab Takko, Bauchi State Commissioner for Commerce and Industry, said that the National Council meeting is a very important forum where far-reaching decisions pertaining to the industrial growth and development of the country are discussed.
She added that it is a forum where workable solutions are proffered to move the nation towards economic independence and self-reliance in both the public and private domains of the economy.
The commissioner further said that Bauchi State had keyed into numerous federal government programmes and initiatives bordering on Commerce, Industry and Investment.
The five-day meeting, organised by the Federal Ministry of Industry Trade and Investment (FMITI) in collaboration with the Bauchi State Ministry of Commerce and Industry, is themed “Strengthening Industry, Trade and Investment Sector in Promoting Development in the Country.”
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