Jonathan Unfolds Plans to Make Nigeria Self-Reliant

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President Goodluck Jonathan

December 2, 2014 – Nigeria’s President, Dr. Goodluck Ebele Jonathan has unfolded plans to make Nigeria self-reliant.

The president who was speaking at an occasion to name top 100 companies in Abuja said he has directed the Federal Ministry of Industry, Trade and Investment to work with Central Bank of Nigeria on the matter.

“I have directed the Federal Ministry of Industry, Trade and Investments to work with the Central Bank, in the execution of a comprehensive investment and trade agenda to increase local production, and substitute unnecessary imports with our local goods. This is a game changer, which will reposition us globally, and rapidly boost our foreign reserves.

“The Ministry of Industry, Trade, and Investment and the CBN are already working with the Ministry of Petroleum Resources to cut down imports of petroleum products; they are also working with the Ministry of Agriculture to cut down imports of food products; and with the Ministry of Mines and Steel, to cut down imports of metal related products. Ladies and Gentlemen, this will be one of our boldest initiatives ever to finally make our country self-sufficient”, he said, adding that he confident that Nigeria is able to produce in Nigeria, most of what is consumed in Nigeria.

“The bulk of the investments required to make this happen will come from the Top 100”, he said.

He explained that government launched the Nigerian Industrial Revolution Plan (NIRP), to rapidly expand manufacturing in Nigeria, by accelerating private investments in areas such as building materials, foods and beverage manufacturing, petrochemicals, and fertilizers, steel, the auto sector, leather and textiles, cocoa and palm oil processing, amongst many others.

“We are also using the NIRP to address the hindrances to competitiveness, by reducing the costs of financing, providing industrial skills, enhancing the investment climate, improving product standards, and intervening in industrial infrastructure in areas related to energy and heavy cargo transportation.

Furthermore, we have launched the Agricultural Transformation Agenda to increase food production by over 20 million tons a year, and make Agriculture in Nigeria truly commercial.

“We accelerated the implementation of the Gas Master Plan in the Oil and Gas Industry, by installing over 450km of gas pipelines over the last 3 years, with another 2,000km planned over the next 4 years. We have grown from less than 500 million cubic feet per day, 4 years ago, to about 1.5 billion cubic feet per day currently”, he said.

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