…As NACCIMA seeks investment in transportation, energy, others to reduce costs
A former Acting Director General and Chief Executive Officer of the Federal Institute of Industrial Research, FIIRO, Dr. Chima C. Igwe has declared that FIIRO under the present Management of the Institute led by Dr. Mrs. Jummai Adamu Tutuwa is now more visible and more accessible to Nigerians and foreign investors especially women and youths who are interested in establishing Micro, small and Medium Scale industries using FIIRO locally developed technologies.
This declaration was made during his goodwill message to the Commerce and Industry Correspondents Association of Nigeria, CICAN Conference and Awards, 2024 with the theme: “Navigating Fiscal and Monetary Policy Challenges as Threats to $1 Trillion (USD) GDP Target by 2030” held at the Raddison Blu Hotel, Isaac John Street, Ikeja GRA, Lagos recently .
Dr. Igwe said that one of the threats to the achievement of the said target, in addition to all the ones highlighted and enumerated by all the speakers could be “neglecting the development of Micro, Small, and Medium Scale Industries using locally developed technologies by Agencies and Institutions such as the Federal Institute of Industrial Research, National Agency for Science and Engineering Infrastructures, Projects Development Institute, and so on.”
He stated that FIIRO, in particular, has locally developed so many technologies that can empower Nigerians in developing Micro, Small, and Medium Scale Industries, thereby creating employment and wealth and assisting the government in the achievement of the targeted $1 Trillion (USD) GDP by the year 2030.
Dr. Igwe also stated in his goodwill message that the current Director General/CEO, FIIRO Dr. Mrs Jummai Adamu Tutuwa has made FIIRO and FIIRO technologies more visible and accessible to all Nigerians with her numerous achievements in a very short period and space of time.
Dr. Igwe commended the National Chairman, Mr. Charles Okonji, and the entire National Executive members of CICAN for their great efforts in organizing the CICAN Conference and Awards 2024.
The National Chairman of CICAN, on his part, commended FIIRO for its contributions to economic development; he therefore urged them to do more.
He also tasked the government at all levels, including ministries, to provide an enabling environment for businesses to thrive to reduce unemployment in the country.
“No nation becomes great without production. Europe developed with the Industrial Revolution. It is unfortunate that subsequent governments in Nigeria have paid lip service to the growth of industrial sector, preferring the crude oil business, whose price is not determined or controlled by the government.
“Many multi-nationals left Nigeria because of the inclement environment including the high cost of production, high exchange rate, insecurity, multiple taxation/levies, and poor infrastructure”, he stated.
Also, speaking at the event, the Director-General of Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, Olusola Obadimu represented by the
Research Officer, NACCIMA, William Inya, urged the federal government to prioritize investments in transportation, energy, and technology to reduce production costs; and develop more industrial parks and special economic zones to enhance economies of scale and attract foreign investment.
It also called for investment in local raw material sources to minimize reliance on imports and enhance competitiveness.
“Achieving a $1 trillion GDP by 2030 is ambitious but within reach if we align our priorities, forge public-private partnerships, and implement pragmatic policies”, he said.
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