At a recent forum, Aisha Rimi of the Nigeria Investment Promotion Commission stressed the urgent need for Nigeria to diversify its economy by promoting industrialization. Highlighting the importance of domestic and foreign investment, she noted current reforms aimed at improving the business climate. Edo State leaders also discussed agricultural initiatives and untapped natural resources as vital for sustainable economic growth.
In a crucial address at the Nigeria Investment Promotion Commission’s stakeholders engagement forum, Aisha Rimi, the Executive Secretary and CEO of the Commission, emphasized the imperative for Nigeria to diversify its economy through robust industrialization. Speaking in Benin, she pointed out that promoting both domestic and foreign investments is key to unlocking the country’s economic potential.
Rimi underscored that the current administration is steadfast in its commitment to revitalize the economy. With proactive economic reforms aimed at improving the business climate, Nigeria seeks to become a more attractive destination for investment. “It is clear that Nigeria urgently needs to diversify its economy by promoting industrialisation. The big question is, how do we do all of this? The answer is investment—not just foreign, but also domestic,” she stated, highlighting the dual focus on improving local and international investment attractiveness.
Addressing the urgent need for employment opportunities among Nigeria’s large youth population, Rimi also advocated for the development of infrastructure and the sustainable exploitation of the country’s abundant natural resources. She pointedly remarked on the importance of revitalizing educational institutions and health services, which she believes are critical to achieving overall socio-economic progress.
Moreover, Amen Odigie, the Managing Director of the Edo State Investment Promotion Office, elaborated on the agricultural initiatives in the state. These range from large-scale farming operations to providing smallholder farmers with access to better financing and improved seed types and strains. He stated, “Beyond agriculture, our nation is blessed with an array of natural resources. Developing these resources sustainably, from extraction to processing and manufacturing, presents immense opportunities for investment and industrial growth.”
Odigie further noted that Nigeria possesses significant deposits of solid minerals—such as limestone, gold, iron ore, and coal—that remain largely untapped. He stressed that properly harnessing these resources could significantly boost the nation’s GDP while creating comprehensive industrial value chains that benefit locals.
The Governor of Edo State, Monday Okpebholo, represented by the Secretary to the State Government, Musa Ikhilor, stressed the interconnectedness of sustainable economic growth with investment initiatives. He mentioned that his administration is committed to fostering a conducive environment for investment-driven growth through various business-friendly reforms. “This aligns with the NIPC’s vision to strengthen the capacity of State Investment Promotion Agencies and foster partnerships to attract and retain investment for the diversification of the Nigerian economy,” he added.
In summary, the calls for Nigeria to diversify its economy through industrialization are becoming increasingly urgent, as emphasized by Aisha Rimi and other stakeholders at the NIPC forum. The necessity for a dual approach—enhancing both foreign and domestic investment—is seen as critical. Furthermore, the potential for sustainable development through agricultural and mineral resource initiatives presents promising opportunities for economic growth and increased employment.
Original Source: punchng.com
