The Ministry of Industry, Trade and Investment is collaborating with the World Bank to develop a Sector Strategic Plan for 2020 to 2030 to revitalise the sector.
The ministry’s Permanent Secretary, Dr Nasir Sani-Gwarzo, disclosed this on Monday in Abuja at the 12th meeting of the National Council on Industry, Trade and Investment.
Sani-Gwarzo, who spoke at the Virtual/Physical Technical Session, said that the plan would serve as a roadmap for a sustainable revitalisation of the sector.
He added that efforts were underway to digitalise the operations of the ministry and its agencies.
He said that this would be through the deployment of “Digital Industry, Trade and Investment Platform (DITIP)’’ — an enterprise e-solution that could drive a fully automated paperless hub
According to him, the ministry is embarking on the review of the Nigerian Industrial Revolution Plan (NIRP), while the Trade Policy Investment Policy formulation is in progress.
“All these efforts, when finalised and fully in operation, would facilitate the re-invigoration of the sector for growth and development,’’ he said.
Besides, the permanent secretary said that the Investment Promotion and Protection Agreement (IPPA) with Singapore and Morocco had been signed, adding that the ministry was liaising with the Ministry of Justice for its ratification.
“The ministry is also working to develop a coordinated approach to investment promotion within 25 states and the Federal Capital Territory (FCT).
“Efforts were being made by all the agencies under the ministry to develop post-COVID-19 plans that will assist them to navigate the challenges posed by the pandemic,’’ he added.
Sani-Gwarzo said the ministry was promoting economic growth, job and wealth creation by vigorously implementing the 14 Presidential Priority Projects within the context of its mandate.
He listed some of the projects as the activation of the private sector-led six Special Economic Zones (SEZs) located in Lekki, Enyimba, Funtua, Ibom, Kano and Benue.
Others include collaboration with the private sector to create well-paying jobs for youths and implement a strategy, aimed at lifting 100 million Nigerians out of poverty.
Sani-Gwarzo said that the implementation of these projects was expected to facilitate the actualisation of the Federal Government’s priority programmes.
The three-day council meeting has “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 Pandemic Era” as its theme.