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NEF seeks resuscitation of Ajaokuta Steel Complex, others

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 NEF seeks resuscitation of Ajaokuta Steel Complex others

The Nigeria Entrepreneurship Forum, NEF, has called for the resuscitation of Ajaokuta Steel Complex and Ikot Abasi Aluminum Smelting Plant.

The President of NEF, Dr. Sidney Inegbedion, made the call in his paper presentation during the National Roundtable On The Actualization Of The Objectives Of The Real Sector In The Medium Term National Development Plan Leveraging The Organized Private Sector held in Abuja.

Inegbedion said this rescuscitation of the two important companies would act as catalyst for reviving moribund steel Industries such as Delta Steel Company, Oshogbo Rolling Mills, Jos Rolling Mills, Katsina Rolling Mills, National Iron Ore Mining Company Itakpe and the Metallurgical Institute, Onitsha.

He stated that the move would also have multiple effect of triggering the economy to embark on welding and fabrication of smaller engines for agricultural processing, housing, defense and armament production, transportation, construction and exporting.

READ ALSO :Concession plans for Ajaokuta Steel, Itakpe mining firm ongoing – Osinbajo

According to him, strengthening the role of private sector as partners in national development through proper utilization of their organized private sector Institutions would go a long way in repositioning the nation’s economy and improve Foreign Direct Investment, FDI, increase foreign earnings, boost the nation’s Micro, Small and Medium Enterprises (MSMESs) as well as enhance the country Gross Domestic Products, GDP.

“MSMEs are very vital to economic development in terms of investment, output generation, employment generation and poverty reduction and yet they are humbled by numerous challenges which Government at all levels must boldly step in to address the MSMEs challenges to better compliment their efforts using inclusive approaches” He explained

The President of NEF stressed the need for Nigeria to continue to invest in human capital development to improve labour productivity in all sector against the backdrop of the world contracting into a global village through technology and and innovation.

“Most importantly, there is the need to develop and implement programmes that raises workers skills in other to increase productivity, knowledge, and acceptable skills” Dr. Igbinedion emphasized

He also called for the review of the nation’s educational curricula to adapt to changing technology trend and make Nigeria youths marketable in the global market place.

On agriculture, he advocated increase in farm productivity to match the share of agriculture labour force with its output share since smallholder farmers constitute 80 percent in the country.

‘Therefore, a deliberate focus on smallholder farmers is a way to increase income of large share of the population thereby reducing poverty and assist smallholder farmers to have access to input and access to markets utilizing accredited agricultural commodity associations and they would serve vehicles for smallholder farmers training, finding support mechanisms and access to technology, information and market” He pointed out

He observed that considering Nigeria:s rich endowment in human and natural resources as well as its pro stance on market economy, the private sector productivity and contribution towards financing national development plans should compete favourably with groups in its peer or with the advanced countries.

“Since the Government is trusting the private sector to assume reign over the economy and its development plans, the private sector should also be assisted to assume its expected responsibilities and the creation of an enabling environment for higher private sector productivity will require strong politiy will to provide security, infrastructure, good governance, Institutional support and inclusion, ” he added.

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