The Agenda of The Nigerian Industrialisation Revolution Plan (NIRP).

President Goodluck Jonathan

President Goodluck Jonathan Monday said the Nigerian Industrial Revolution Plan (NIRP) was a journey Nigeria must undertake, as the plan would quicken the industrialisation of the country and create more jobs and wealth.

He equally said it would invariably help in enhancing national security and social stability.

The president spoke at the inauguration of Advisory Committee on NIRP, chaired by Minister of Industry, Trade and Investment, Olusegun Aganga, while business mogul, Aliko Dangote serves as the alternate chairman.

The mandate of the committee, according to the president, is to ensure that the country gets to the highest level of private sector inputs to his administration's industrialisation agenda.

Jonathan noted that no country had become prosperous only by extracting and exporting its raw materials, saying it was primarily by adding value to resources that nations could best generate wealth for its people.

He said it was for this reason he launched the NIRP early this year.

"Today, approximately 45 per cent of Foreign Direct Investment (FDI) all over the world goes to the manufacturing sector with only about eight per cent of FDI in the production of raw materials. Furthermore, over 70 per cent of the estimated $20 trillion global annual trade are in manufactured goods.

"As a result, without a robust industrial plan focused on manufacturing, we cannot have a fair share of the world's wealth. We must build a strong manufacturing base and this the advisory committee will help us to do.

"Last week, I held discussions with the Chinese Premier here in Abuja, and it is indeed impressive what that country has achieved in terms of industrialisation recently. For a purely agrarian economy in 1978 with high unemployment rate, little wealth, technology was minimal, and in fact the manufacturing capacity was quiet small, China has effectively through its industrial and manufacturing sector become the largest economy in the world.

"Nigeria can also do the same not necessarily be the largest economy in the world but our target is to be among the top 20.

"From the information I gathered, manufacturing and services in China have lifted over 500 million people out of poverty.  With industrialisation, at least we can lift less than 200 million people out of poverty.

"Today, we have a half trillion dollar economy by far the largest in Africa and we have the ninth largest workforce in the world. I believe in this country, I believe in our entrepreneurial spirit. If China can do it, I believe we can also do it.

"To accomplish this however, we must do things differently, we must begin to add value to our resources through research development. We must industrialise and the Nigerian Industrialisation Revolution Plan is our agenda to achieve this," Jonathan said.

According to him, under the NIRP industries where the nation had comparative advantage and could lead in Africa and  attain the top 10 globally in the shortest possible time, had been identified.

He listed them to include wild fields of agro-allied and agro-processing, metals and solid minerals processing, oil and gas related industries, construction, large manufacturing and services.

"The NIRP will also address the numerous issues that have held back the Nigerian non-oil sector for years and the high cost of funding and lack of long term finance in our country.

"I have asked that the NIRP presidential advisory committee must serve as platform to get the inputs of our best industrialists in the country even as we execute the plan. This is important because the existing investors in Nigeria are best place to articulate the expansion of our strategic industrial sectors.

"I have no doubt that you here are some of our best minds and the most daunting investors in Nigeria's industrial sector, you represent the best in Nigeria's industry.

"The committee members have been carefully selected across strategic sectors of the Nigeria's industrial revolutional plan including cement, basic steel, cocoa processing, petrochemicals, textiles, food and beverages just to mention a few.

"We have also ensured adequate national coverage North, South, East and West as well as the international and vital representations from all key stakeholders.

"The advisory board will be chaired by the Minister of Industry, Trade, and Investment, Aganga, and Dangote as the alternate chairman.

"I will meet with this committee only as needed but the minister and the alternative chairman will brief me from time to time.

"I am embolden by the achievements we have already recorded in our commitment to drive industrialisation over the last three years. Example are seen in our Sugar Master Plan, the Auto Industry Strategy and strengthening of the cement sector and others.

"Your acceptance to support this national goal is a proof of your deep commitment to our country. Today a place a challenge to you, be bold, think big and push the frontiers of our dream of an industrial society as articulated in our plan and we must industrialise this country" the president stressed.

He commend the organised private sector for not only effectively participating in the recently held World Economic Forum for Africa, but also for their invaluable contributions for the resounding success of the forum.

Jonathan added that at the end of the event, it was concluded that it was one of the best fora in the history of World Economic Forum, especially coming at a time that the country faced a lot of challenges.

"We believe that without those distractions, probably it would be the best in terms of participation and the contents.

"We achieved that because of people like you and your colleagues all over the world who are not here.

"So is a unique opportunity being my first outing after the world economic forum  to thank you for your commitment and of course your input and also the organisers of the World Economic Forum," Jonathan concluded.

Source - ThisDay