The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has backed the recently launched National Industrial Policy (NIP), describing it as fundamentally different from previous frameworks and capable of doubling the real sector’s contribution to national output in a decade.
Commenting on the relaunched policy, Ajayi-Kadir said that the policy stands out because it was co-created with stakeholders and backed by a clearly-defined implementation plan.
He said the Ministry of Industry, Trade and Investment fully engaged manufacturers and other stakeholders in shaping the document.
“We had a wide range of stakeholders, not just MAN, but other development partners and agencies of government. So, it was inter-ministerial in its determination,” he said.
Ajayi-Kadir said another key departure from past policies is the inclusion of a detailed implementation framework. “What we have also done that is different in this one is that it is matched by an implementation plan, which shows clear timelines, who is supposed to do what, when and more importantly, how success will look like from the beginning,” he said.
He disclosed that the policy sets a 10-year target to significantly raise the industrial sector’s contribution to the gross domestic product.
Ajayi-Kadir said another key departure from past policies is the inclusion of a detailed implementation framework.
“What we have also done that is different in this one is that it is matched by an implementation plan, which shows clear timelines, who is supposed to do what, when and more importantly, how success will look like from the beginning,” he said.
He disclosed that the policy sets a 10-year target to significantly raise the industrial sector’s contribution to the gross domestic product.
It is a 10-year period within which we will have advanced manufacturing to a stage where we go beyond the nine percent, 10 per cent contribution to GDP to as high as 20 to 25 per cent,” he stated.
He added that the creation of the Industrial Revolution Working Group by the ministry has further strengthened confidence in the framework.
Ajayi-Kadir said that the policy clearly defines the scope of the industrial sector and identifies manufacturing, oil and gas, construction and mining as the core industries.
He explained that fiscal incentives and financing will be directed strategically at the areas.
“Government’s primary focus is to direct attention to those sectors, the incentives, drivers, requirements for finance and infrastructure and what is needed to promote integration into the global economy,” he said.
Noting that the food and beverage industry is a strong growth area, he said: “We know that the food and beverage sector in the country has been a promising one because, as they say, we must all eat. It is important that we take advantage of our population and also the fact that Nigeria is a blessed country.”
The MAN DG also underscored the importance of innovation and technology, noting the advancement among young people in the use of technology and AI to drive raw material sourcing and knowledge about market access in other economies.
(From The Guardian)
