The Vice President, Prof. Yemi Osibanjo over the weekend performed the groundbreaking ceremony for the building of a N200 billion industrial park at Iyanomo in Ikpoba-Okah Local Government Area of Edo State.
At the event, Osibanjo said the park aligned perfectly with President Muhammadu Buhari’s vision for Nigeria as a country to produce what it consumes.
The nation’s number two citizen said that the economic recovery and growth plan unveiled recently by President Muhammadu Buhari earmarked industrial parks and special economic zones as policy tools to generate growth and diversify the Nigerian economy.
He revealed that the Buhari administration invested N1.3 trillion on infrastructure and capital projects in 2016 despite the 60 per cent drop in revenue.
“This industrial journey that we are recommending is one that other countries have embarked on and thrived. If we stay the course, we will enjoy a similar kind of success. We have seen how China and the Asia Tigers used the resources with which they were blessed to develop export-oriented light manufacturing industry.
“That is the same vision that is shared by Obaseki. It is the vision of the Asian Tigers. It is the vision that enabled China to achieve its success. He (Obaseki) must be commended for the excellent way in which he has pursued this vision. We will be competing with these countries for more than 80 million jobs that China is forecasted to shed in the next 10 years. We must do everything to make sure these jobs make their way to the Benin Industrial parks and other economic zones that Nigeria will nurture in the years ahead,” he said.
The Benin Industrial Park is expected to produce over 600,000 metric tonnes of industrial output and provide 170,000 direct and indirect jobs.
