Some officials and guests at Commerce and Industry Correspondents Association of Nigeria’s (CICAN) Conference and Awards, 2024, in Lagos.
CICAN: It is unfortunate that subsequent governments in Nigeria have paid lip service to the growth of industrial sector, preferring the crude oil business, whose price is not determined or controlled by the government
By Valentine Amanze
Former acting Director General and Chief Executive Officer of the Federal Institute of Industrial Research, (FIIRO), Dr. Chima C. Igwe, has said that FIIRO under the present management of Dr. Jummai Adamu Tutuwa was more visible and accessible to Nigerians and foreign investors.
Igwe further disclosed that women and youths who are interested in establishing micro-, small and medium-scale industries using FIIRO locally developed technologies have easy access to facilities of the institute.
Igwe disclosed these in his goodwill message to the Commerce and Industry Correspondents Association of Nigeria’s (CICAN) Conference and Awards, 2024, held at the Raddison Blu Hotel, Isaac John Street, Ikeja GRA, Lagos on Thursday November 21, 2024. with the theme: “Navigating Fiscal and Monetary Policy Challenges as Threats to $1T (USD) GDP Target by 2030.”
Besides, Igwe said that one of the obstacles of achieving $1 trillion GDP target by 2030 was “neglecting the development of Micro, Small, and Medium Scale Industries using locally developed technologies by agencies and institutions such as the Federal Institute of Industrial Research, National Agency for Science and Engineering Infrastructures, Projects Development Institute, and so on.”
He explained that FIIRO, in particular, has so many locally developed technologies that could empower Nigerians in developing Micro-, Small, and Medium Scale Industries, thereby creating employment and wealth and assisting the government in the achievement of the targeted $1 trillion GDP by 2030.
Igwe also commended the CICAN National Chairman, Mr. Charles Okonji, and the entire National Executive members of CICAN for their efforts in organizing the CICAN Conference and Awards 2024.
The National Chairman of CICAN, on his part, commended FIIRO for its contributions to economic development, while urging it to do more.
He also tasked the government at all levels, including ministries, to provide an enabling environment for businesses to thrive to reduce unemployment in the country.
“No nation becomes great without production. Europe developed with the Industrial Revolution. It is unfortunate that subsequent governments in Nigeria have paid lip service to the growth of industrial sector, preferring the crude oil business, whose price is not determined or controlled by the government.
“Many multi-nationals left Nigeria because of the inclement environment including the high cost of production, high exchange rate, insecurity, multiple taxation/levies, and poor infrastructure.,” he stated.
Also, at the event, the Director-General of Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Olusola Obadimu, represented by the
Research Officer, NACCIMA, William Inya, urged the federal government to prioritise investments in transportation, energy, and technology to reduce production costs; and develop more industrial parks and special economic zones to enhance economies of scale and attract foreign investment. It also called for investment in local raw material sources to minimize reliance on imports and enhance competitiveness.
“Achieving a $1 trillion GDP by 2030 is ambitious but within reach if we align our priorities, forge public-private partnerships, and implement pragmatic policies,” he said.
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