The Nigerian Minister of State for Industry, Trade, and Investment (FMITI), in a high-level briefing by the Bureau of Public Enterprise, reiterated government’s commitment to sustainable industrial growth.
John Owan Enoh emphasized the importance of aligning BPE’s privatization objectives with the Ministry’s vision of boosting industrial productivity and economic diversification. With a focus on promoting efficiency in previously privatized entities, the Ministry aims to ensure these assets contribute meaningfully to job creation, value addition, and economic growth.
According to a statement issued on Wednesday by the Special Assistant on Media, Diana-Mary Nsan, discussions highlighted the need to optimize operations in sectors such as sugar and automotive manufacturing, which currently operate below capacity. Collaborative efforts between FMITI and BPE will target barriers to growth while fostering backward integration and encouraging local production.
Acknowledging BPE’s role in facilitating reforms, the Minister reiterated the critical need for workforce training and skill development. Through strategic partnerships with stakeholders, including the Industrial Training Fund (ITF), FMITI will drive human capital development to meet the demands of modern industries.
The briefing also emphasized the necessity of robust oversight mechanisms to monitor and evaluate the performance of privatized entities. This approach ensures accountability and drives the achievement of Nigeria’s industrialization goals.
The Minister expressed optimism about the synergies between Ministry and BPE, emphasizing that a shared vision and coordinated efforts will position Nigeria as a global industrial powerhouse. These collaborative initiatives align with the President’s vision of a creative and self-reliant economy.
This renewed partnership marks a significant step toward transforming Nigeria’s industrial landscape and ensuring sustainable development for all citizens.The meeting underscored the crucial role of privatization and reform in revitalizing Nigeria’s industrial and manufacturing sectors.
