ACCI Urges Revitalisation Of Idu Industrial Hub To Drive Economic Growth

The President of the Abuja Chamber of Commerce and Industry (ACCI), Dr. Emeka Obegolu, has called on government agencies and stakeholders to prioritize the revitalization of the Federal Capital Territory’s industrial sector, with a focus on the Idu Yard Industrial Hub.

Speaking at the chamber’s end-of-year media chat in Abuja on Tuesday, Dr. Obegolu highlighted critical challenges affecting the hub, including inadequate infrastructure, unreliable power supply, and poor security. He noted that despite its potential to spur economic growth and create jobs, the hub remains underutilised due to systemic neglect.

Dr. Obegolu described the recently passed FCTA 2024 supplementary appropriation bill as a unique opportunity to address these challenges. He urged the Federal Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to prioritise industrial development in budget implementation.

He recommended key interventions such as repairing and expanding roads to improve logistics, deploying alternative energy solutions for uninterrupted electricity, and strengthening security in the industrial hub to rebuild investor confidence. He emphasized that these efforts would catalyze job creation and economic growth in the Federal Capital Territory.

“Simplify tax processes to reduce the financial burden on businesses and create programs to train and engage young people in industrial skills development,” Dr. Obegolu appealed to the authorities.

Looking forward to 2025, the ACCI President reaffirmed the chamber’s commitment to advocating for policies that improve the ease of doing business and support a thriving industrial ecosystem. He called for enhanced collaboration among the government, private sector, and media to transform neglected zones into vibrant centers of economic activity.

Dr. Obegolu also emphasised the media’s crucial role in shaping public opinion and driving economic reforms.

“The media has been instrumental in highlighting both the challenges and achievements of the industrial and commercial sectors. Your unwavering support has amplified the voices of stakeholders and fostered economic dialogue. On behalf of the ACCI, I extend our heartfelt appreciation for your invaluable contributions,” he said.