The Federal Executive Council (FEC) has given approval for the establishment of the Presidential Council on Industrial Revitalization Roadmap. Chaired by President Bola Tinubu, the council will consist of ten subcommittees, each focusing on various policies within different ministries and the Ministry of Industry, Trade, and Investment.
Minister of Trade, Industry, and Investment, Doris Uzoka-Anite, disclosed this information after the FEC meeting. She emphasized the importance of collaboration among the subcommittees to devise a unified roadmap aimed at reinvigorating industries. The overarching goal is to foster a comprehensive resurgence of the national economy in alignment with President Bola Tinubu’s eight-point agenda.
The minister highlighted the multitude of policies, frameworks, and guidelines already in place to stimulate industrial growth across various sectors. The establishment of the subcommittees is part of a broader strategy to stimulate investment, job creation, and overall economic improvement. The initiative particularly targets the growth of small and medium-sized enterprises (SMEs) within the industrial landscape.
The expected outcomes of this effort include an increase in investment across industrial sectors, job creation, and an improvement in GDP growth rates. The government envisions a significant boost in economic indices, with a projected GDP growth rate escalating from 3.5% to an aspirational 7%, aligning with President Tinubu’s vision for economic revitalization.
