23rd November, 2021
Lagos State Governor, Babajide Sanwo-Olu on Tuesday said there is urgency in the need for Africa to industrialise and cease being a dumping site for industrial, commercial and consumer products from other countries.
Sanwo-Olu spoke at the 2021 Africa Industrialisation Day, held in Alausa, Ikeja, Lagos, saying that industrialization of Africa would serve a dual purpose of socio-economic empowerment through job creation and wealth generation opportunities for the people and enhance revenue generation for government for sustainable development of the economy and provision of infrastructure and social services.
The governor, who was represented by the Secretary to the State Government, Folasade Jaji, added that the state was not unmindful of the potentials available for socio-economic growth and regeneration, especially with its status as the hub of socio-economic and industrial activities in Nigeria and he ECOWAS sub-region.
“We are committed to enhancing our potential through partnerships and collaboration with the private sector and other stakeholders as well as the provision of incentives and implementing policies/strategies that will encourage more entrepreneurs to jump on the industrialization train.
“I urge you all, young and upcoming entrepreneurs in particular, to take advantage of the opportunities we have provided through relevant government agencies. Industrialisation is about adding value to the abundant primary products we are blessed with for greater and more rewarding returns through local consumption and exports,” he said.
Speaking at the event, Commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande, said the theme for this year; “Industrialising Africa: Renewed commitment towards an Inclusive and Sustainable Industrialisation and Economic Diversification,” is apt and timely.
She said this year’s theme was a pointer to the fact that internal policies must be evolved that would act as a catalyst for local industries to facilitate industrialisation and economic diversification.
“I wish to also remind us of the need to begin to work out strategies that would give us comparative advantages as a nation in view of the Africa Free Continental Free Trade Agreement which Nigeria keyed into on 22nd July, 2019 in Niamey.
“It is expected that once AFCTA is fully implemented, it with create a single African market for goods and services, covering an estimated 1.2 billion people with a combined GDP of USD2.5 trillion across 55 member states,” she stated.
The commissioner added that as a responsive government, “we are aware of the challenges of industrialisation and for this reason it has continuously evolved policy initiatives and programmes to boost the potentials of the private sector and creating a conducive business environment.
“You will all agree with me that the State has also consistently supported the Micro, Small and Medium Enterprises (MSMEs) through its participation in the International Trade Fair and devoting an annual fair to them to exhibit their skills, creativity and innovations.”
She said government had taken a step further at the forum, to include the exhibition of locally fabricated machines and equipment and innovative projects from Lagos schools as a means of creating the desired linkages between machine producers, manufacturers of goods and the end users.
Akande enjoined all stakeholders to take advantage of this opportunity and make efforts to create the necessary synergy that would lead to value addition on government’s path to industrialisation, economic recovery and growth.
Special Adviser to the Governor on Commerce, Industry and Cooperatives, Oladele Ajayi enjoined all to take advantage of every segment of the event as a means of growing their businesses and developing themselves for the common good of the economy and the State.