The Federal government has reaffirmed its commitment to sustainable industrial growth following a high-level briefing by the Bureau of Public Enterprises (BPE) on Tuesday, 26th of November.
This disclosure, came through the Minister of State for Industry, Federal Ministry of Industry, Trade, and Investment (FMITI), John Owan Enoh.
In a statement signed by Diana- Mary Nsan, SA (Media) to the Minister of State, it was revealed that, the Minister while speaking at the meeting, underscored the crucial role of privatization and reform in revitalizing Nigeria’s industrial and manufacturing sectors.
He emphasized the importance of aligning BPE’s privatization objectives with the vision of FMITI in boosting industrial productivity and economic diversification.
“With a focus on promoting efficiency in previously privatized entities, the Ministry aims to ensure these assets contribute meaningfully to job creation, value addition, and economic growth.”
Discussions highlighted the need to optimize operations in sectors such as sugar and automotive manufacturing, which currently operate below capacity.
“Collaborative efforts between FMITI and BPE will target barriers to growth while fostering backward integration and encouraging local production.”
Acknowledging BPE’s role in facilitating reforms, the Minister reiterated the critical need for workforce training and skill development. “Through strategic partnerships with stakeholders, including the Industrial Training Fund (ITF), FMITI will drive human capital development to meet the demands of modern industries.”
The briefing also emphasized the necessity of robust oversight mechanisms to monitor and evaluate the performance of privatized entities. An approach that ensures accountability and drives the achievement of Nigeria’s industrialization goals.
The Minister expressed optimism about the synergies between FMITI and BPE, emphasizing that a shared vision and coordinated efforts will position Nigeria as a global industrial powerhouse. These collaborative initiatives align with the President’s vision of a creative and self-reliant economy.
A renewed partnership which marks a significant step toward transforming Nigeria’s industrial landscape and ensuring sustainable development for all citizens.
