The Minister of Industry, Trade and Investment, Niyi Adebayo, on Monday said the country’s Industrial Revolution Plan was being reviewed.
He said the revision was meant to ensure that the plan reflects economic realities, including the African Continental Free Trade Agreement, imminence of the fourth industrial revolution and climate change.
The minister discloses this in a statement by his Special Adviser, Ifedayo Sayo, titled, ‘FG reviews industrial revolution plan to reflect economic realities.
“The revision of the NIRP will provide a clear and definite path towards a new industrial aspiration, taking into cognisance our recent trade agreements and how we can take advantage of them; 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,” he said.
The minister also reportedly said domestication of production and backward integration have been at the centre of the Federal Government’s industrialisation programme to drive intensive growth of the Nigerian economy.
“They will increase local production, create job opportunities and improve our foreign exchange reserve position.”
Source : The Punch