However, with the economy facing challenges in recent years, the prospect of technologically lifting the nation’s productivity faces challenges. Stakeholders have called for a functional development blueprint that will boost industrialisation and job growth,An online dialogue to support industrialisation, innovation, inclusion and stability held last month.
Some businesses, he noted, contend with logistical difficulties, such as infrastructure challenges and the absence of clusters to support their business input requirements. He cited a series of mega-challenges faced by Nigeria, including the inability to foster economic growth, and improving security among others.
Utomi called for the revival of industrial clusters, adding such facilities spur economic growth because they provideAround the world, he added that there were useful models of successful industrialisation case studies whose features Nigeria could assimilate. While at the helm of affairs of FIIRO attention, she said was given considerably to small businesses engaging in agricultural food processing.
Since small and medium enterprises have been recognised as the key driving force of the country’s economic development, she said continued government support will help the sector maintain its position as the mainstay of the economy for years to come. Due to intense working capital constraints, she said many small manufacturers were unable to make the upfront investments in upgraded technologies that could have positive returns.
Policies in this area, she noted, should aim to support training and capacity building via skill development programmes and promote partnerships between SMEs that can develop or transfer technology, products, processes or management practices. He explained that the company enrolled thousands of farmers in its backward integration programme, converting inputs into quality raw materials to meet expected standards.
A comprehensive industrialisation policy that would prioritise developmental efforts towards driving backward integration programmes and creating linkages for various value chains in the manufacturing industry, he added, would grow the economy. On a policy level, he said the most significant need was for federal agencies to move beyond their restricted silos of activity to more collaboration with other agencies with similar objectives. The key areas for collaboration, he said, should be economic and industry policy.
Stop exporting raw materials... Industrialize this nation. Manufacturer what we eat and use.