The Federal Government is set to create about 4.2 million quality and decent jobs within five years if the Raw Materials Development Plan is properly implemented.
Minister of Science and Technology Dr Ogbonnaya Onu made this known when speaking at the 1st Competitiveness Consultative Forum for Regulatory Establishments in Abuja.
The minister also pointed out that a successful implementation of the National Strategy for Raw Materials and Products Development would lead to 10.8 per cent import reductions of goods; thereby saving the country over N3 trillion in foreign exchange for a 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 its main objective is to drastically reduce raw materials imports and develop local industries.
The minister said: “Specifically, a successful implementation of this strategy would yield about 4.2 million quality and decent jobs, 10.8 per cent import reductions of goods, thereby saving the country over Three Trillion Naira (N3trn) in foreign exchange for the short-term period of five years.”
According to him, adoption of science, technology and innovation in industries and businesses would result in high quality made-in-Nigeria products that attract higher demand patronage.
However, 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 120 million 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 50 million Euro to support quality infrastructure projects in West Africa for the past 15 years.
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