(http://fmi.gov.ng/wp-content/uploads/2011/11/coat-of-arms2.gif) The permanent Secretary, Federal Ministry of Industry, Trade and Investment, Mr. Dauda Kigbu has described the his Ministry as one of the main drivers of the nation's economy under vision 20:2020 and the transformation agenda of the Federal Government.
Kigbu stated this, while addressing participants at the opening ceremony of the technical session of the 6th National Council on Industry, Trade and Investment which opened in Ibadan, Oyo State, Monday, 22 April, 2013.
According to Kigbu, the Ministry is saddled with the responsibility of attracting investments into the country particularly in producing sectors such as Agricultur, Solid Minerals, Manufacturing, Oil and Gas and Tourism.
According to him, the Ministry will continue to strengthen strong partnership between the Federal Government, States and Organised Private Sectors as this will maximally unlock the needed capital Investment. He therefore urged policy formulators and seasoned practitioners to critically examine the Industry, Trade and Investment sector with a view to identifying how it can effectively impact on vision 20:2020 as it relates to wealth creation, employment generation, sustainable livelihood and enhancement of standard of living of the people.
The Permanent Secretary stressed that deliberations at the meeting will focus on attracting investment, boosting industrialization, increasing trade and developing SMEs among others. Kigbu called delegates to take advantage of the excellent arrangement put in place by the Oyo State government and its people, to engage in useful and productive discussion on best strategies to be adopted in moving the nation's economy forward.
Earlier, the Oyo State Commissioner for Trade, Investment and Cooperation, Adebayo Adegbenro noted that though Nigeria ranks as one of the richest country in the globe, ranking 6th largest producer of crude oil but with 70% of its population living below poverty line of $2 per day as adjudged by World Bank recently, thereby making Nigeria the 3rd largest of the poor in the world.
In his words, "This unwholesome and highly uninspiring situation has to a large extent been brought about by the monolithic structure of Nigerian economy which on account of overbearing dependence on the oil sector has over the time led to the neglect of the real sector of the economy like manufacturing and agricultural sectors despite their enormous potentials in the areas of employment generation and their contributions to the GDP and development of local technology".
He stated that the theme of this year's meeting, "Industrialization as the Driver of Economic Development, Revenue Diversification and Wealth Creation" could not have been more thoughtful and urged delegates to make useful contributions in their deliberations and to collectively seize the unique opportunity to do right for Nigeria.
Adegbenro pledged the support of Oyo state government and the people towards the task of a solid ground work in terms of evolution of a pragmatic policy framework of which sustainable national economic development can be achieved.
Via: Federal Ministry of Information (FMI) Nigeria