In a significant announcement, Chief Uche Geoffrey Nnaji, the Minister of Innovation, Science, and Technology, revealed that the Federal Government plans to create 4.4 million jobs through the National Strategy for Competitiveness in Raw Material and Products Development.
This strategy aims to address economic diversification and enhance the local manufacturing sector’s global competitiveness.
Addressing attendees at the National Consultative Committee on Global Competitiveness Conference in Abuja, Nnaji highlighted that the strategy will not only boost employment but also increase local content in manufacturing to 50% and 80%, respectively. These measures are intended to elevate the global standing of Nigerian-made raw materials, products, and services.
The conference, themed “Harnessing Local Resources for Diversifying Nigerian Economy and Enhancing Global Competitiveness,” focused on how investments in innovation, technology, research, infrastructure, and human capital development can drive the country’s global competitiveness.
Nnaji emphasized that global competitiveness is crucial for economic vitality, as it involves producing goods and services that meet international standards and strengthen citizens’ long-term income.
Nnaji called for leveraging the power of innovation, science, and technology to enhance value addition and indigenous industrialization in Nigeria. He stressed that continuous investment in cutting-edge technologies is vital for improving the quality of local content and ensuring global competitiveness.
The Minister urged stakeholders to build strategic alliances to produce high-quality, competitive raw materials and services, which would improve Nigeria’s position on the global index.
Mrs. Esuabana Nko Asanye, the Permanent Secretary of the Ministry, represented by Mrs. Salamatu Mohammed, Director of Planning, Research, and Policy Analysis, reiterated that the conference aims to tackle critical issues related to the National Strategy’s implementation. She highlighted the relevance of the theme in the context of the administration’s priorities.
Prof. Nnanyelugo Martin Ike-Muonso, Director-General of the Raw Materials Research and Development Council (RMRDC), welcomed participants and underscored the strategy’s role as a transformative force in national development. He noted that the focus on innovation, science, and technology in raw materials development would reduce reliance on imports and support economic growth.
The conference included a technical workshop where stakeholders discussed crucial topics such as competitiveness, advocacy, and the commercialization of research and development breakthroughs.
