The Nigerian Government announced that it will prioritise the processing of raw materials in Nigeria in order to give job opportunities to Nigerian youths and women.
This was disclosed in a statement by Mr Tunde MacAlabi, the Chairman of the Organising Committee for the Business, Trade and Investment Summit component of the Africa International Trade Exhibition (AITE) 2023’s Business, Trade, and Investment Summit on the sideline of the 78th edition of the United Nations General Assembly (UNGA).
He said President Bola Tinubu restated his administration’s commitment to promoting ease of trade for Small and Medium Enterprises (SMEs) across Africa in the summit which was organised by Mr. MacAlabi; Prof. Tai Balofin, President of Nigerian Progressive Professionals and Ms. Khuraira Musa, Chief Executive Officer of K-Pro Consulting of New York.
SME’s
The President represented by the Minister of Trade and Investment, Dr Doris Uzoka-Anite, Tinubu said that the Federal Government would take the necessary steps to ensure the ease of trade in the country.
Minister of Aviation and Aerospace Development, Festus Keyamo, urged both foreign and local investors to take advantage of Nigeria’s huge population, traffic, and thriving aviation market, to invest in the sector, citing that world-class Maintenance, Repair and Overhaul (MRO) facilities would be a good area for investors to consider first, the statement said”
- “ Keyamo said there are not many MRO facilities in West Africa, a situation that makes domestic airline operators ferry their aircraft, only to queue overseas for two months or more for their aircraft maintenance.
Raw materials
Officials at the event added that the purpose of the event was to woo investors to invest in Nigeria, adding:
- ” We want to have industries in Nigeria to process and manufacture our raw materials in the country to give job opportunities to our youths and women.
- ” To continue allowing our raw materials to be exported and paid next to nothing for it will continue to keep our people in poverty.
- ” We want Nigeria to change the way they have been doing business. We are confident that the outcomes of this gathering will have a lasting impact on the economic landscape, not only in Nigeria but also across the globe.”
This had been our chorus over the years but Nigeria still export raw cassava and stem including many unprocessed products. We get short changed in the value chain. The Ministry of commerce and industry should do more to encourage private enterprise to promote economic growth