Tinubu seeks export-driven Nigerian economy
By the AFREEQUE newsroom, based on ThisDay
Nigerian President Bola Ahmed Tinubu says industrial policy must strengthen local production, value chains and the processing of raw materials. The approach is based on the new industrial policy approved by the Federal Executive Council, Tinubu said at the Lagos International Trade Fair, according to This Day.
Nigerian President Bola Ahmed Tinubu has defended an industrial and trade policy aimed at increasing local production and Nigeria's exports. He was speaking in Lagos at the opening of the 40th edition of the Lagos International Trade Fair, according to ThisDay.
Tinubu, represented by the minister of state for Industry, Trade and Investment John Owan Enoh, presented industrial policy and trade policy as two parts of the same strategy. He said the Federal Executive Council had approved the Nigeria Industrial Policy, a roadmap aimed at strengthening manufacturing, local value chains and the processing of raw materials into finished products, according to ThisDay.
The president also cited textiles and clothing, automotive parts, pharmaceuticals and creative industries among the sectors Nigeria is seeking to develop before negotiating market opportunities under the African Continental Free Trade Area. The Lagos trade fair is being held from 6 to 15 November and is organised by the Lagos Chamber of Commerce and Industry, according to ThisDay.
