Abuja – The Abuja Chamber of Commerce and Industry limited (ABUCCI) has called on the Federal Government to review and develop a well-articulated Industrial Revolution Plan (IRP) to boost the manufacturing sector.
The President of ABUCCI, Mr Tony Ejikonyem, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday.
Ejikonyem also advocated for the formulation and implementation of an Enterprise Development Programme (EDP) in the country.
He said that the development of an IRP and EDP would usher in a new era for industrial sector development.
According to him, the overriding objectives of the IRP and EDP will be to strengthen the resilience and growth of the sector.
Ejikonyem said that for the manufacturing sector to drive economic development, it would need to strengthen its competitiveness and capacity.
[pro_ad_display_adzone id=”70560″]
He explained that the sector must position itself to take advantage of the opportunities and challenges arising from global and regional developments in trade and investment.
He called on the government to pursue vigorously, policies and programmes designed to reposition the sector, urging an increase in the use of technology to develop strong domestic capability for operators in the sector.
The ABUCCI president also emphasised the need for government to increase the production of capital and intermediate goods.
He said it would provide a range of economic benefits and improve the balance of payments as well as foreign reserves.
On encouraging exports, Ejikonyem advocated for an introduction of new approaches and initiatives to develop and promote the sector.
He called for the establishment of a well-equipped regional exhibition and distribution centres in selected overseas markets with private sector collaboration
.
According to him, the establishment of the centres will promote inward buying.
He said that competitiveness, productivity and quality enhancement was crucial in achieving greater efficiency in the production of goods and services.
Ejikonyem also advocated for the expansion of electronic commerce, to modernise, strengthen and enhance competitiveness of distributive trade in a globalised and liberalised environment.
He said it was important for Nigeria to ensure that its trade restrictive measures were in accordance with the international trade rules.
“ Measures should also be taken to provide an enabling administrative and legislative environment in order to achieve desired robust economy,’’ he said. (NAN)
