Recession to avail Nigeria opportunity to diversifying economy – Minister

The current economic recession facing Nigeria will avail Nigerians and the country the opportunity to look inwards for ways towards diversifying the e...

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The current economic recession facing Nigeria will avail Nigerians and the country the opportunity to look inwards for ways towards diversifying the economy, according to the Minister of State for Industries, Trade and Investment, Hajiya Aisha Abubakar.

Abubakar who spoke Tuesday at a special stakeholders meeting with Manufacturers Association of Nigeria (MAN) and other business communities, at Gidauniya Foundation, Kano, noted that Nigeria had the wherewithal to institute indigenous industrialization that can cater the need of Africa.

“What we are passing through now in the name of economic recession will not slow down government in encouraging Nigerians to look inwards by utilizing the abandoned human and mineral resources that we are blessed with to revive the economy this time,” she said.

“When you have blocks everywhere, you don’t have an option than to look inwards and use what we have to encourage our industrialists to take the opportunity of the SMEs to revive our ailing factories to create jobs.

“Previous years past, most of this products that our industries are manufacturing locally are being imported from foreign countries, but now, as you can see, some of these factories have gotten order from the Nigerian Army to manufacture boots.

“These are the opportunities that have come abound the recession. We still have hope which will be very inspiring if Nigerians will use the opportunity to give out their sacrifice for the Buhari-led administration to bring back our economy.

“We are all living witnesses how the government and our people are taking patriot and committed steps to see to the end of this recession.”

She was optimistic that there was hope for the country, looking at how Nigerians were responding to the hard economic realities facing the nation.

According to her, the Bank of Industries (BoI) would soon begin talks with SMEs with a view to giving them a helping hand for the development of their respective businesse, which would ultimately reflect on the national productivity.

Bashir Danyaro, an industrialists and owner of WHANU Limited that produces of footwear at Panshekara Industrial Layout urged the Federal Government to encourage SMEs in the country.

He urged government to always consider it important through constant patronage of the locally made products.

Source: WorldStage News | Recession to avail Nigeria opportunity to diversifying economy – Minister

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