Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite has said that one of President Bola Tinubu’s visions is to jump-start Nigeria into a $1trillion economy through gradual implementation of policies that target to achieve a double-digit growth rate in Gross Domestic Product (GDP).
The Trade Minister who stated this while briefing State House Correspondents at the Presidential Villa, Abuja said both the Presidential Council on Industrial Revitalization and the Presidential Council on Fiscal Reform and Tax Policy Review set up by Tinubu last year were already working in this direction.
“For this to happen, we have been mandated and charged to come up with the resolution from those committees as quickly as possible and, when this is implemented, we expect to see more creation of jobs, drop in prices of goods and services, and a total revival of the economy,” the Minister noted.
According to her, “When this committees finalize its review and come up with its reports, we will be implementing policies that will jumpstart the economy again and see us experiencing a double-digit growth rate in the GDP, as well as being on track to achieve the vision of His Excellency to achieve a $1 trillion economy.”
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The Trade Minister explained that the Federal Government was deeply concerned with the rising cost of goods and services in the country, as well as the rising cost of doing business, and is working hard to improve the business environment for manufacturers and industrialists.
“As you’ll recall, the priority of this government is to promote and protect local industries and manufacturers and this will mean that we must do all that is necessary to remove all the roadblocks and bottlenecks impeding or impacting businesses,” Dr. Doris stressed.
The Presidential Council on Industrial Revitalization, which was set up in October and the Presidential Council on Fiscal Policy and Tax Review set up in July 2023, include the Committee on Consumer Credit, Committee on Artisan Certification and Licensing, Committee on Trade Facilitation, and the Committee on Commodity Exchange.
It also includes the Committee on Mining and Solid Minerals, Committee on Oil and Gas, Creative Economy, Steel and Heavy Industries, and now Healthcare has also opted to join the Presidential Council, as well as the Committee on Micro Small and Medium Enterprises (MSMEs).
The Trade Minister also told reporters that President Tinubu has always reiterated that Nigeria is open for business and that there are no more roadblocks.
“We are removing and we’ve removed these roadblocks and these roadblocks include multiple taxations, multiple levies, customs duties, and various levies that are imposed on businesses, infrastructure decay, including power,” she added.
