Buhari’s Administration Diversifying Economy from Over-dependence on Oil, Gas, Says Ngige

Segun Awofadeji in Bauchi 

The Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige, has said that President Muhammadu Buhari’s administration is trying to diversify Nigeria economy from over-dependence on oil and gas.

Ngige stated this yesterday in Bauchi during the opening ceremony of the 14th meeting of the National Council on Industry, Trade and Investment (NCITI).

According to her, the meeting could not have come in a better time than now when all efforts are being made by the federal government to further fortify the economy by devising means to diversify it from its present overdependence on the oil and gas sector.

She said that the NCITI is the highest policy advisory body in the sector, under the Chairmanship of the Honourable Minister of State for Industry, Trade and Investment, Ms. Mariam Katagum.

The permanent secretary explained that the main purpose of the council meeting was to brainstorm, stratagise, deliberate and recommend policies and programmes aimed at addressing challenges facing the sector.

“Today, major economies, particularly in the developed world are driven by the industry, trade and investment sectors.

“We must, therefore, redouble our efforts towards turning our industry, trade and investment sectors into the main engine of growth of the national economy for the common prosperity of all Nigerians.

“It is important to note that decisions reached by the Council will be escalated for the consideration of the Federal Executive Council, after which the implementation of the decisions will be coordinated by the Federal Ministry of Industry, Trade and Investment.

“In the next two days, our job here as technical officials will be to deliberate on all the memoranda received and recommend appropriate decisions for presentation and consideration by the ministerial council on Thursday, November 10, 2022,” she said.

Ngige, who revealed that the council had received over 70 memoranda from various Ministries, Department and Agencies (MDAs) for deliberations and consideration, urged the stakeholders to thoroughly examine them for appropriate recommendations.

She said these recommendations would further strengthen the sector to deliver economic growth and development through industrialisation and increase investment in the local economy for employment generation and wealth creation.

In her address, the Bauchi State Commissioner for Commerce and Industry, Ms. Zainab Takko, said that the NCITI meeting was a very important forum where far-reaching decisions pertaining to the industrial growth and development of the country were discussed.

Takko added that it is a forum where workable solutions are proffered to move the nation towards economic independence and self-reliance in both the public and private domains of the economy.

The commissioner further said that Bauchi State had keyed into numerous federal government programmes and initiatives bordering on commerce, industry and investment.

The Five-day meeting was organised by the Federal Ministry of Industry Trade and Investment (FMITI) in collaboration with the Bauchi State’s Ministry of Commerce and Industry.

The theme of the meeting is “Strengthening Industry, Trade and Investment Sector in Promoting Development in the Country.”