Economy
Nigeria reviews Industrial Revolution Plan
Nigeria’s Industrial Revolution Plan is being reviewed to reflect the economic realities and aspirations of the Federal Government.
The Minister of Industry, Trade and Investment, Adeniyi Adebayo said in a statement signed by his Special Assistant on Media, Ifedayo Sayo that the revision of the NIRP will provide a clear and definite path to a new industrial aspiration.
According to him, this can be achieved by taking into cognisance, the recent trade agreements and how they can be taken advantage of, and also ensure a safer environment by adapting the policy to capture the global target of net zero emissions by 2050 and create job opportunities for Nigerians through increased production to leverage the wider market access provided by AfCFTA.
According to him, “Domestication of production and backward integration has been at the centre of this administration’s industrialisation programme, to drive job intensive growth of the Nigerian economy. They will increase local production, create job opportunities and improve our foreign exchange reserve position.”
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