The Vice President Kashim Shettima has said the economic policies of the current administration will resuscitate economic activities in the manufacturing and engineering sectors.
He also pledged commitment to unleashing the country’s full economy potential by implementing policies focused on job creation, access to capital for small and large businesses, inclusiveness and the rule of law to boost the fight against hunger, poverty, and corruption.
Shettima said this during his address at the opening ceremony of 2023 National Engineering Conference, Exhibition and Annual General Meeting held on Tuesday in Abuja.
The conference was themed,”Re-engineering the Manufacturing Sector for Competitiveness and Enhanced Economic Growth.”
The PUNCH reports that the manufacturing sector has witnessed significant reduction in its contribution to the nation’s Gross Domestic Product.
But speaking in his address, the VP acknowledged that infrastructure development remain the backbone of any successful manufacturing industry and promised to partner with the society on favourable legislations and policies that will accelerate growth of the manufacturing sector.
He said, “We are very much aware of the problems and challenges that are almost in your minds. Access to low cost capital, challenges of multiple taxation, issues of infrastructure deficits, foreign exchange, export obstacles amongst others.
“I am happy to let you know that we are tackling with unprecedented boldness and decisiveness each and every issue. In the area of taxation, Our goal is to increase Nigeria’s tax revenues while also reducing the burden on individuals and businesses. It might sound like a contradiction, but it is not. By streamlining the number of taxes, introducing greater efficiency and breaking the loopholes.
We can and will deliver less burdensome tax burdens to businesses and employers of labour.
The President of the Nigerian Society of Engineers, Mr Tasiu Gidari-Wudil, in his remarks said the theme of the conference was informed by the continuing decline of activities in the manufacturing sector of Nigeria’s economy.
“The saddest trajectory of Nigeria is the gigantic Ajaokuta Steel Manufacturing Company on which manufacturing activities revolved , never rolled out one length of steel since it was built.
“Recognising that transforming the manufacturing sector is critical for driving economic growth the stimulating innovation.
“And providing the roadmap for developing a skilled workforce the society went into alliance with United Nations Development Industrial Development Organization, and Manufacturing Association of Nigeria, to chart out new plans and solutions.
Gidari-Wudil was optimistic that by the end of the conference productive decisions would be made on how the Ajaokuta Steel Manufacturing Company in particular would be revived and the whole manufacturing sector in general rekindled for performance.
SOURCE: PUNCHNG
