Nigeria Economic Growth: Revive Local Industries

The Forum for Former Deputy Governors has called on the Federal Government of Nigeria to revive the country’s local industries, including cocoa grinding plants and textile mills, to stimulate economic growth and job creation. This recommendation was made in a communiqué issued after the forum’s 4th Annual National Conference in Abuja, which was signed by its Chairman and Deputies, Chris Akoma, Muktar Anka, and Hazeem Gbolarumi.

According to the former deputy governors, the current administration, led by President Bola Ahmed Tinubu, should focus on strengthening mechanisms that promote sustainable economic growth, inclusive prosperity, and genuine self-reliance. They emphasized the need for all tiers of government to invest in infrastructural development, particularly in roads and reliable power supply, which are essential for productivity.

The communiqué highlighted the importance of reactivating moribund industries, such as cocoa grinding plants and textile mills, and pursuing investments, flexible credit access, and protective tariffs. The forum also recommended that governments encourage public-private investment in community processing centers for crops like cassava, tomatoes, and rice to reduce costs, improve quality, and create jobs.

Additionally, the forum suggested collaboration with development partners to establish credit facilities, processing equipment, and storage technologies for small and medium-sized enterprises (SMEs) and cooperatives. They also emphasized the need to prioritize cocoa consumption for the enhanced health of the nation and to train youths in cocoa farming.

The government was also urged to enforce the use of made-in-Nigeria fabric for school uniforms in Nigerian schools and colleges to increase the demand for local fabrics. Furthermore, the forum recommended that the government procure 100 million cocoa seedlings and encourage Nigerians to plant them to create employment and shore up foreign exchange.

The call to action was echoed by former Senate President Senator Anyim Pius Anyim, former Sokoto State Governor Senator Aliyu Wamakko, and several former deputy governors, who spoke at the event about the need for the government to increase its commitment to industrial growth in Nigeria. The forum’s recommendations are aimed at promoting economic growth, job creation, and self-reliance in the country.

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