The Federal Executive Council (FEC) has approved the establishment of the Presidential Council on Industrial Revitalization Roadmap, which will be chaired by President Bola Tinubu and comprise ten subcommittees.
This was disclosed on Monday by the Minister of Trade, Industry, and Investment, Doris Uzoka-Anite.
She spoke at the end of the FEC meeting, explaining that the subcommittees will deliberate on various policies within different ministries and the Ministry of Industry, Trade, and Investment.
According to the Minister, “We have a plethora of policies, frameworks, and guidelines aimed at reinvigorating industries across these diverse ministries and agencies.
“We are mandated to collaborate and devise a unified roadmap for each of these subcommittees, all geared towards fostering a comprehensive resurgence of the national economy in accordance with Mr. President’s eight-point agenda.”
“At the conclusion of this effort, we anticipate an upsurge in investment across various industrial sectors.
“We also expect to witness a surge in job creation, bolstering employment figures and an overall improvement in our indices, particularly our GDP growth rates, projected to escalate from 3.5% to an aspirational 7%, with a GDP base of approximately 1 trillion, aligning with Mr. President’s vision.
“The impetus behind this initiative is our strategy to stimulate industrial growth, with a particular focus on catalysing the growth of small and medium-sized enterprises (SMEs) within the broader industrial landscape,” she emphasized.