News: Federal Government to Create 4.2Million Jobs Through Raw Materials Development

Ministry of Science and Technology – About 4.2million “quality and decent jobs” will be created in Nigeria within five years if the Raw Materials Development Plan is properly implemented, the Minister of Science and Technology Dr Ogbonnaya Onu has said.

Dr Onu, who spoke at the 1st Competitiveness Consultative Forum for Regulatory Establishments in Abuja yesterday, also said a successful implementation of the National Strategy for Raw Materials and Products Development would reduce 10.8 percent import reductions of goods thereby saving the country over N3trillion in foreign exchange for short time of five years.

The National Strategy for Raw Materials and Products Development plan was approved by the Federal Executive Council (FEC) in May 2017, and it main objective is to drastically reduce raw materials imports and develop our local industries, officials said.

“Specifically, a successful implementation of this strategy would yield about 4.2 million quality and decent jobs, 10.8% import reductions of goods, thereby saving the country over Three Trillion Naira (N3trn) in foreign exchange for the short-term period of five years”, the minister said.

He said adoption of science, technology and innovation in industries and businesses would result in high quality made-in-Nigeria products that attract higher demand patronage.

But in his goodwill message at the forum, the Trade Counsellor of European Union Delegation to Nigeria and ECOWAS, Filippo Amato said the body has set aside 120m Euro for the West Africa competitiveness programme that would be implemented at the regional level.

He also disclosed that the EU had invested more than 50m Euro to support quality infrastructure projects in West Africa for the past 15 years.

Source: Daily Trust