Gov. Adeleke sees great future, huge potential for Nigeria’s industrialisation 

Gov. Ademola Adeleke of Osun, says Nigeria has a great future and huge potential to become an industrialised country, giving its vast human and natural resources.

The governor, represented by the Commissioner, Ministry of Commerce and Industry, Rev. Bunmi Jenyo, said this on Friday at Osun State Special Day at the ongoing 2024 Lagos International Trade Fair.

Adeleke said that the southwest region must make efforts to tap into the vast opportunities that abound across sectors of the Nigerian economy.

He said the opportunities included tourism, Information and Communication Technology, agriculture, automobile products, assembly, production and services, chemicals, agro processing, mining, gemstone, textile, leather and others.

The governor added that the southwest region had a large productive population and market for movement of goods and services.

“We must,

therefore, use our resources to build our industrial potential, which is one of the important objectives of Africa Continental Free Trade Area (AFCFTA).

“If we implement our policies well and timely, our industries and manufacturing sector will create millions of jobs in the region,” he said.

Adeleke stated the importance of taken effective actions to adequately get the Micro, Small and Medium Enterprises (MSME) to leverage trade opportunities in AFCFTA, particularly within the southwest region.

He said that Osun, being a commercial region, should not be left behind in the attraction of investments in the commercial and industrial sectors.

“The state is endowed with abundant natural and agriculture resources that are yet to be fully harnessed and the state government is making efforts to return the state to top commercial status,” he said.

Mr Gabriel Idahosa, President, Lagos Chamber of Commerce and Industry (LCCI), said the chamber was pushing for solutions to government’s revenue mobilisation challenges, debt sustainability, diversification, and industrialisation.

He said by design and conceptualisation, the 2024 Lagos International Trade Fair was specially packaged to meet the aspirations and interests of state governments that sought tested platforms to promote investment opportunities in their states.

Idahosa said in a diversified economy like Nigeria, state governments should be the catalyst for the actualisation of industrialisation and a significant and sustainable growth of the Gross Domestic Product (GDP).

According to him, in the developed economies, most production in agriculture and industry is carried under the regions/states.

“It is against this background that state governments in Nigeria must play their fundamental roles and create the required conducive environment for businesses and manufacturing activities to thrive.

“This unlocks local economic potentials, fosters bottom-up growth and development as well as promote state-wide/regional competitiveness,” he said.

The LCCI president noted that Osun State had witnessed accelerated and sustained development in infrastructure, amenities, creation of critical public goods, and implementation of ease of doing business reforms.

These, he said, have supported the state’s industrialisation aspirations.

Idahosa urged the governor to invest more in infrastructure development that could improve the ease of doing business in the state.

He said this was particularly important, considering the emerging opportunities in the state-owned electricity grid, to cater to the power needs of the state.

“With food inflation at a record level currently, states like Osun State can rescue the situation by being more innovative in food production and processing,” he said.