FG Plans Industrial Centres

As part of strategy to fast-track the nation’s industrialisation, the federal government plans to create industrial centres across the country and encourage a cluster of manufacturing concerns with similar production needs and product lines to which it would provide needed infrastructure.

The policy, THISDAY learnt, is aimed at helping industries cut down on running cost in order that the nation’s manufacturing sector can be competitive in the international market. In setting up the centres, focus will also be on areas of comparative advantage.

Minister of Industry, Trade and Investment, Dr. Okey Enelamah stated this in Lagos, adding that government is committed to creating enabling environment for industries as well as improve ease of doing in the country. He made the disclosure at the launch of Market square Africa and Africa in 10 Minutes.

“Africa contributes 2 per cent of global Gross Domestic Products (GDP), besides that this does not represent the level of resources that abound in the country, we will like to see a lot of improvement in the level of intra-Africa trades. But we also need enablers to make this happen.

“The current administration is committed to creating an enabling environment for trade and investment to thrive as well as improve the ease of doing business. One of several ways through which government plans to achieve this is to create industrial centres across the country and encourage similar industries to cluster together so government can provide needed infrastructure including power; this will help to reduce operational cost and in doing this focus will be on areas of comparative advantage,” he stated.

Also speaking at the launch, Chief Executive Officer (CEO), Footprint to Africa, Osita Oparaugo, said Footprint Africa would bridge the information gap on the many business opportunities in Africa adding that “Marketsquare Africa” is open to partnership and stating that joint venture has more tendency to grow and be profitable.

He also stated that the platforms would boost intra-Africa trade adding that it was open to various sizes of businesses including Small and Medium Enterprises (SMEs) which is described as the lowest intra-continent trade.

He stressed that “Africa in 10 minutes is an online television station that showcases major business across Africa as well as provides an in-depth look into Africa’s growing economies; spotlighting several nations rich profile of investment opportunities,” he stated.