Abuja Chamber of Commerce and Industry (ACCI) has urged the Federal Government to develop a well articulated Industrial Revolution Plan (IRP) and the Enterprise Development Programme (EDP) aimed at ushering in a new era for industrial sector development in Nigeria.
President of ACCI, Tony Ejinkeonye, who made the call while addressing newsmen in Abuja, said the overriding objectives of IRP and EDP would be to strengthen the resilience and growth of the sector.
Ejinkeonye said the manufacturing sector would need to further strengthen its competitiveness and capacity as well as position itself to take advantage of the opportunities and challenges arising from global and regional developments in trade and investment.
As part of the measures to re-position the manufacturing in Nigeria, he called for increasing the use of technology and developing strong domestic capability, adding efforts should be focused on increasing the use of technology and developing a strong domestic base in terms of capabilities and knowledge.
He also called on the government to emphasise on the policy to increase the production of capital and intermediate goods so as to provide a range of economic benefits such as improvements in the balance of payments and foreign reserves.
He further advocated the development of new approaches and initiatives to promote exports, stressing the need for the establishment of regional exhibition and distribution centres in selected overseas market equipped with distribution facilities in collaboration with the private sector.
The President of ACCI underscored the need to enhance competitiveness of Nigerian products in the international market as part of new policy direction to boost the manufacturing sector of the economy.