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The Federal Ministry of Industry, Trade and Investment (FMITI) is deepening its partnership with the Bureau of Public Enterprises (BPE) to drive Nigeria’s industrial development.
This was disclosed by a statement signed by Diana-Mary Nsan, the Special Adviser, Media, to the Minister.
The statement noted that at a high-level briefing held on November 26, the Minister of State for Industry, John Enoh, highlighted the strategic role of privatisation and reforms in revitalising the nation’s industrial and manufacturing sectors.
According to her, the Minister, while speaking on the collaborative initiative, emphasised the alignment of BPE’s privatisation efforts with FMITI’s vision of boosting industrial productivity and fostering economic diversification.
“Our goal is to ensure that privatiaed assets are optimised to create jobs, add value, and drive economic growth,” the Minister stated.
Discussions during the meeting focused on addressing challenges in key sectors such as sugar and automotive manufacturing, which are currently operating below capacity.
The Minister noted the importance of tackling these barriers to growth, adding, “Collaborative efforts between FMITI and BPE will promote backward integration, support local production, and drive efficiency in these critical industries.”
Recognising the importance of a skilled workforce, the Minister stressed the need for workforce training and capacity building to meet the demands of modern industries.
“Through strategic partnerships with organizations like the Industrial Training Fund (ITF), we aim to equip our workforce with the skills required to thrive in an industrialised economy,” the Minister said.
The briefing also highlighted the importance of robust oversight mechanisms to ensure that privatized entities deliver on their mandates.
The Minister emphasised, “Strong monitoring and evaluation systems are crucial for holding these entities accountable and achieving our industrialization objectives.”
Enoh expressed optimism about the synergies between FMITI and BPE, noting that the partnership reflects a shared vision for Nigeria’s industrial advancement. “By working together, we can position Nigeria as a global industrial powerhouse. This effort aligns with the President’s vision of a creative and self-reliant economy,” the Minister stated.
