TEMITOPE AJAYI
At yesterday’s meeting of the Federal Executive Council, the industrialisation agenda of the President Tinubu’s administration came into focus.
The Federal Government is poised to achieve full industrial revival of the economy in line with the eight point agenda of President Tinubu.
With the new commitment to the real sector the economy is expected to see a boost in job creation and a general increase in economic indices, especially GDP growth rates, which is projected to move from above 3.5% from 2024 to 7%.
The ambition of President Tinubu is to grow our economy from the current $450billion GDP to $1trillion in the next 8years. To actualize this, the government we came up with a roadmap to stimulate industrial growth, especially catalyzing SME growth and rev up the entire industrial sector.
To ensure all red tap and administrative bottlenecks are eliminated, the Federal Executive Council set up the following Subcommittees:
1. Subcommittee on consumer credit.
2. Subcommittee on commodity exchange.
3. Subcommittee on heavy industries and steel development.
4. Subcommittee on trade facilitation and ease of doing business.
5. Subcommittee on licensing and certification of artisans.
6. Subcommittee on trade facilitation and realization.
7. Subcommittee on mining and solid minerals.
8. Subcommittee on oil and gas.
9 Subcommittee on Creative Industries.
The council also approved the setup of the committee to review the Free Trade Zones and Special Economic Zones.