Senate Challenges FG On Funding Of Industrial Centres

Senate Challenges FG On Funding Of Industrial CentresThe Federal Government has been asked to pay more attention to building Nigeria’s industrial capacity, by giving priority to the development and funding of Industrial Development Centers (IDCs) across the country.

The Senate Committee on Industries made the call during a visit to the Industrial Development Centre in Owerri, the Imo State capital, as part of its oversight function.

The Committee, led by Senator Sam Egwu, decried the state of the centres across the country, stressing the need to prioritise the IDCs and ensure they become functional, in order to contribute to the nation’s Gross Domestic Product (GDP).

A member of the Committee, Senator Barnabas Gemade, observed that one of the major causes of Nigeria’s recession was the failure to develop its industrial capacities.

He added that countries like China and India were able to thrive due to the priority given to industrialisation.

“IDCs were meant to give a foundation of producing middle-level staff for industrialising the nation. And since they were not working very well, and have remained moribund in most of the centres, 23 of them in the country, our level of industrialisation is where it is, which is part of why the recession has come to this nation.

“Countries like India and China that were basically at the same level with Nigeria, are highly industrialised now because they paid attention to their development of industrial capacity, that is what is lacking here,” he said.

The Director-General of Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Dikko Radda, said to achieve full diversification of the economy, government should give more priority to industrialisation.

“I believe we are going to get it right this time because the lawmakers are here and they are the people that appropriate funds for the development of these centres.

“I believe they are really worried about it, and I believe that they are going to do something about it. The government will put more priority on the IDCs,” he said.

Senate Committee Sees To Procurement Of Locally Made Vehicles

Senate Committee, Locally MadeThe Chairman of the Senate Committee on Industry, Senator Sam Egwu, has promised that the legislature will come up with relevant laws to ease the effect of foreign exchange on local manufacturers and ensure patronage for them.

Speaking during an oversight inspection of Innoson Automobile Manufacturing Plant, Nnewi, Anambra state, alongside his committee members, he said that the situation is detrimental to the nation’s economy.

Senator Egwu said that he was hopeful that the Procurement Bill which has passed the second reading and only awaiting the President’s assent would bring hope for indigenous manufacturers.

He explained that the bill is expected to strengthen local patronage by the government which is the major advocacy of the bill.

Innoson Automobile is expected to be one of the major beneficiaries of the bill as this means that government agencies would begin to use Innoson vehicles.

Innoson is the only vehicle manufacturing company in the country as others are only into assemblage and the Senator maintained that government should encourage such development in every possible means for the good of the country.

The Chief Executive Officer of Innoson Automobile Group, Mr Innocent Chukwuma, confirmed the view that the economic challenges were taking its toll on local manufacturers,

He revealed that production has dropped due to discrepancies in planning and outcome but remained hopeful that intervention from government would indeed ease the effects.