Uche Nnaji, Minister of Innovation, Science and Technology, disclosed to the National Consultative Committee on Global Competitiveness in Raw Materials and Product Development conference about the government’s plan to boost local manufacturing content to 80%.
In a post on the official X account of the Federal Ministry of Information and National Orientation, Nnaji said the strategy will generate employment and enhance local content in manufacturing.
According to him, the boost in local content will ensure the global acceptance of Nigerian raw materials, products, and services, thereby improving the country’s global competitiveness.
“The Federal Government will create 4.4 million jobs through the implementation of the National strategy for competitiveness in Raw Material and Products Development in Nigeria.
“The implementation of the National strategy will not only enhance the creation of employment and our quest for economic diversification, but will also boost local content in manufacturing to 80 percent, for global acceptance of made-in-Nigeria raw materials, products and services which will ensure global competitiveness in the country.”
The Minister said.
He further stated that the global competitiveness is essential for producing goods and services that meet international standards, emphasising that Nigeria must leverage innovation, science, and technology to achieve this.
According to him the theme, “Harnessing Local Resources for Diversifying Nigeria and Enhancing Global Competitiveness”, is aimed at championing the country’s global competitiveness diversification through investments in Innovation and Technology, Research and Development, Infrastructure and Human Capital Development.
Global competitiveness is the life blood of any thriving economy as it underscores the ability to produce goods and services that meet the standard of the international market by strengthening the citizen’s long term real income
