Focus shifts in the final year of Buhari’s administration
By Jeph Ajobaju, Chief Copy Editor
Focus in the last full year of the administration of Muhammadu Buhari has shifted to improve power supply, infrastructure, manufacturing, and continental trade, according to Trade Minister Niyi Adebayo.
Adebayo told Channels Television that because Nigerians accounts for 200 million of Africa’s 1.3 billion target market, the government seeks to make the country the most attractive market to do business on the continent.
“If you want to do business in Africa, you must start from Nigeria. Africa has a 1.3 billion (people) market, out of that, over 200 million are in Nigeria, so your best bet is to start from Nigeria and move out to Africa,” he said.
He listed current major challenges to include security, electricity supply, and general infrastructure.
“There are also delays at the ports and things like that. We have been giving and explaining what the government is doing to solve these problems.
“With regards to power, we are aware that there is a power problem, so however, based on that, what we are doing is creating special economic zones and special industrial parks.”
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Industrial parks
Industrial parks are also in the mix, Adebayo stressed, which would have embedded power, and all other infrastructure that anyone setting up a factory would need, per Nairametrics reporting.
“Another thing we are doing is that many industries are setting up their power plants, and the FG is spending money with regards to setting up gas pipelines all over the country so that you can easily tap into the gas pipelines and access the gas and power your plants.”
These are just some of the things the government is doing to help the manufacturing sector, according to him.
He said because manufacturers feel the price of gas is too high, Abuja is engaging with the Petroleum Resources Ministry to see how the price can be competitive.
Sugar tax
The Manufacturers Association of Nigeria (MAN) has implored Abuja to halt the planned N10 per litre tax on sweetened and non-alcoholic beverages (Sugar Tax) proposed by the Finance Ministry in its Domestic Revenue Mobilisation.