Friday, 25 September 2015
Through Manufacturing and Trade Sector REFORMS, Nigeria achieved the following Milestones ....
Problem: Manufacturing in Nigeria had been in steady decline for decades. As at 2010, the sector contributed only 4.2% to GDP and was growing at only 7.6% per annum.
- National Industrial Revolution Plan (NIRP)
- Sugar Master Plan
- National Automobile Policy
- Growth in Foreign Investment
- New Policy on Cotton, Garments and Textiles
- New Leather Transformation Policy
- ‘Triple Helix Framework’ integrating government, academia and industry in technology development
- National Quality Policy to enable Nigerian products to penetrate foreign markets
- Establishment of the National Competitiveness Council of Nigeria (NCCN) Main
Achievements: Through the reforms, Nigeria has achieved:
(a) self-sufficiency in cement production and is now a net exporter;
(b) increasing foreign direct investment - US$8b in 2011 and 2012 alone;
(c) adoption of National Automobile Policy, which encourages the production of vehicles now in Nigeria; and
(d) enhanced prospects of job creation for many Nigerians.
(a) poor power supply;
(b) infrastructure deficit;
(c) high cost of doing business and multiple regulations that obstruct business;
(d) non-revival of the textile industry; and
(e) local production has not led to reduced costs.
Reference: Public Service Reforms in Nigeria (1999-2014) - A Comprehensive Review
Click to view Compendium