Govt set to establish MSM industries in the federation

06 Mar '08

2 min read

The Federal Government of Nigeria has revealed plans to establish micro, small and medium (MSM) industries across the country.

Government's desire was disclosed on March 3, by Umaru Yar'Adua, President of Nigeria at the leadership conference on 'de-industrialization of northern Nigeria'.

The president also stated, “Our rural industrialization program is to target 5,000 micro, small and medium industries across the country. I have no doubt that the attainment of the long-term objective of social and economic transformation of Nigeria into a sustainable, competitive and prosperous economy would be easily achieved if all the stakeholders display the required commitments.”

In order to effectively implement this program, the Government will very soon venture for rehabilitation of institutional infrastructure in the existing 21 industrial development centers located across the country as well as establish new ones in 15 other states of the federation.

Furthermore, the new industrial policy to be implemented in Nigeria is expected to creat jobs, raise incomes, expand markets, facilitate healthy competition and disseminate knowledge and skills.

Besides, reviewing of the policy was regarded as crucial in order to accelerate the pace of industrial revival, growth and development through increasing value-addition at every stage of manufacturing.

The President noted that this could be achieved through “knowledge and skill acquisition, intensive production, best practices and above all, to encourage the private sector to play a pivotal role in the industrial development of the country.”

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