The Minister of State for Industry, Federal Ministry of Industry, Trade, and Investment (FMITI), Senator John Enoh, has reaffirmed the government’s commitment to sustainable industrial growth following a high-level briefing by the Bureau of Public Enterprises (BPE) on the 26th of November.
The meeting underscored the crucial role of privatization and reform in revitalizing Nigeria’s industrial and manufacturing sectors.
The Minister emphasised the importance of aligning BPE’s privatization objectives with FMITI’s vision of boosting industrial productivity and economic diversification.
With a focus on promoting efficiency in previously privatized entities, the Ministry aims to ensure these assets contribute meaningfully to job creation, value addition, and economic growth.
The discussions highlighted the need to optimise operations in sectors such as sugar and automotive manufacturing, which currently operate below capacity, noting that collaborative efforts between FMITI and BPE will target barriers to growth while fostering backward integration and encouraging local production.
Acknowledging BPE’s role in facilitating reforms, the Send Enoh reiterated the critical need for workforce training and skill development.
“Through strategic partnerships with stakeholders, including the Industrial Training Fund (ITF), FMITI will drive human capital development to meet the demands of modern industries,” he said.
The briefing also emphasized the necessity of robust oversight mechanisms to monitor and evaluate the performance of privatized entities to ensure accountability and drive the achievement of Nigeria’s industrialization goals.
The minister expressed optimism about the synergies between FMITI and BPE, emphasizing that a shared vision and coordinated efforts will position Nigeria as a global industrial powerhouse.
“These collaborative initiatives align with the President’s vision of a creative and self-reliant economy.
“This renewed partnership marks a significant step toward transforming Nigeria’s industrial landscape and ensuring sustainable development for all citizens,” he added.
