In order to achieve Nigerias aspiration to become a 1 trillion economy by 2030, the Manufacturers Association of Nigeria MAN has tasked the federal government to prioritise industrial-led development.
Director General of MAN, Segun Ajayi-Kadir, who gave the charge in a chat with Vanguard, said that industrial transformation must be the anchor of Nigerias economic strategy, if the target must be met.
"To make a credible path to a 1 trillion economy, Nigeria must prioritise an industrial-led development model. This requires a deliberate and strategic revival of industrial output, with a particular focus on high-value-added and exportable manufactured goods, supported by unmitigated government patronage. Reliable and affordable energy supply must be central to this effort without stable and cost-effective electricity, the manufacturing sector cannot thrive and contribute meaningfully to the GDP," he stated.
On the latest rebasing of Nigerias GDP by the National Bureau of Statistics NBS, Ajayi-Kadir said: "The federal governments aspiration for Nigeria to become a 1 trillion economy by 2030 is an ambitious but technically attainable goal over the medium to long term."