Doris Nkiruka Uzoka-Anite, Minister of Industry, Trade, and Investment, revealed plans to boost Nigeria’s industrial sector. Uzoka-Anite emphasized the administration’s goal to produce a locally-made vehicle, even starting with Keke Napep, by December.
“We told them that everybody must come together and sign an MOU—the car manufacturers should sign an offtake agreement with the suppliers of the components and with those who are doing leather in Kano. The MOU is going to be signed by June, and by December, we should produce one vehicle. Even if it’s Keke Napep we start with, we are fine. Let us produce from beginning to end,” Uzoka-Anite stated.
She highlighted the administration’s vision to create 50 million jobs within eight years. Key strategies involve attracting investments, improving trade policies, and reducing barriers to exports. “We have our investment strategy, which is to identify investable opportunities, map them out, and have a plan so that investors can easily put their money in,” she explained.
Uzoka-Anite noted that the ministry has already secured at least $30 billion in investment commitments. She said, “More people are coming in and still pledging. That shows a lot of optimism and excitement for the economy and for Nigeria.”
Efforts are being made to enhance trade by facilitating bilateral agreements and promoting value-added exports over raw materials. The ministry has received support from the WTO to improve standards and reduce non-tariff barriers. “The standard trade development facility support from the WTO is helping us to actually improve the standard of goods that we export,” Uzoka-Anite explained.
To tackle the challenges faced by industries, Uzoka-Anite said they have engaged with over 30 stakeholders to find solutions. The automotive sector and the cotton, textile, and garment value chains are prioritized. “We brought all the car manufacturers, the suppliers of the raw materials, and the component parts together in one room and gave them the mandate that we must produce our own car,” she said.
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