2024 budget: FG committed to improve manufacturing sector – Uzoka

Minister of Industry, Trade and Investment, Dr. Doris Anite Uzoka, on Tuesday reiterated the commitment of the federal government to improve the nation’s manufacturing sector for job opportunities and economic development.

Defending the 2024 budget of her ministry before the National Assembly joint Committee on Industry, Trade and Investment, the minister said the proposals for next year “is made up of selected projects and programmes designed to stimulate economic growth and national development.”

Uzoka added that they are also intended to fast-track the attainment of the Renewed Hope Agenda in the industry, trade and investment sector of the economy.

“The ministry remain committed to achieving its vision of promoting economic growth, creating jobs and generating wealth as well as formulating and implementing
policies and programmes that attract foreign direct investments, boost industrialization, increase trade and exports as well as encourage the development of enterprises,” she stressed.

She also informed that the ministry is initiating a rebranding campaign tagged “Make It In Nigeria” –a project that is targeted at selling Nigeria as a valuable brand and encouraging foreign direct investment, FDI and the outsourcing of business processes to the country.

According to her, “Make It In Nigeria” encourages us as Nigerians to patronize local products and most importantly teaches our youth that with the strides the government is making, they have what it takes to be successful and make it right here in Nigeria.

Another key area being addressed by the government, she stated is the Licensing and Certification of Artisans, saying that “as a nation, we have decided that we want to improve our manufacturing sector.”

“We want to invite foreign organizations to build their factories here, and reduce our reliance on imports, but the only way we can do this is by ensuring that our local labour force is well-skilled and has the capacity to take on the jobs we are working hard to create.

“We have developed a program that will address this and enable us to empower, train, certify and track artisans and also bring them from the informal sector into the tax net.

“The programme will also provide opportunities for the most skilled artisans to join work abroad
programs in which they will gain much-needed global experience.

“As we churn out world classwork force, the new National Talent Export Programme will ensure their readiness for export which will increase our foreign exchange revenues,” the minister explained.

Uzoka said that the ministry is currently implementing strategic policies, plans and programmes targeted towards economic recovery and growth for employment generation and wealth creation for the generality of Nigerians.

Some of these plans, programmes and policies, she disclosed are the Nigerian Industrial Revolution Plan, NIRP; the National Enterprise Development Programme, NEDEP; the Trade Policy of Nigeria (2023-2027) and the Nigerian Investment Policy (2023-2027).

The minister added that the ministry has continued to play a vital role in facilitating the Ease of Doing Business which has led to a substantial increase in investments in the local economy and enhanced the industrialization efforts of government.