FG moves to boost production, investments in industry, trade sectors – Minister

By Zubairu Idris

Katsina, Nov. 9, 2023

The Federal Government says it has designed two five-year policies that provide a roadmap for boosting the country’s production and investments in the industry and trade sectors.

The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, who is in Saudi Arabia for the Arab-Africa Summit and Saudi-Africa Summit, made the disclosure virtually, at the closing of the 15th National Council of Industry, Trade and Investment held in Katsina.

The News Agency of Nigeria (NAN) reports that the theme of this year’s meeting was: “Digitisation of Industry, Trade and Investment sector for National Development”.

She said that the policies were Nigerian Investment Policy – 2023-27 and Trade Policy of Nigeria – 2023-27.

Uzoka-Anite pointed out that the policies would assist in restoring the national economic confidence and improve the living standard of the citizens in line with the Renewed Hope Agenda of President Bola Tinubu.

“These two policies provide a comprehensive roadmap for boosting Nigerian investment plan, facilitating micro economic security, restoring the national economic confidence and boosting the living standard of the citizens,” she said.

The minister said that the policies would encapsulate investment promotion, production facilitation and sustainable development, among others.

Uzoka-Anite said that the Trade Policy of Nigeria addresses prevailing challenges in the sector and promotes competitive trade environment towards a successful path to economic growth.

On the other hand, she said, the Nigerian Investment Policy would assist the country in areas of comparative advantage to develop the domestic economy and promote income.

The minister, therefore, commended the participants for attending the meeting to deliberate on the policies that would bolster  the development of the sector and the country in general.

In his remarks, Gov. Dikko Radda, represented by his Deputy, Alhaji Faruk Lawal, urged that the digitisation of the sector for development should be pursued  vigorously to stimulate exports.

He said digitisation would assist in the area of ease of doing businesses and increase in productivity.

The governor, however, added that  concerted efforts of all and sundry were required to achieve the set objectives.

Radda urged the Federal Government to continue to support the development of businesses for enhanced economic growth.