The federal government has said it may consider the option to stop the patronage of Toyota vehicles for government officials if the automobile company and others that are mostly used by government and its agencies do not show proof of major contribution to the economy, including job creation for Nigerians.
Minister of state for Industry John Owan Enoh said the move would help Nigeria to make significant change as a people and as a country.
The minister said he was waiting for the details and statistics about some of the companies and auto companies that have benefited the most from Nigeria’s huge market without creating the corresponding value for the economy.
“While not being particular, Toyota. Can you imagine the volume of Toyota vehicles that are bought by the government and its agencies? I have gone to some auto companies. There are the ones adding value. I am waiting for the value that Toyota is adding to Nigeria’s auto industry.
“And I think that to get the result that we expect to get, at some point we will need to be dramatic – take some dramatic decisions. Otherwise things won’t change,” the minister said yesterday at the inauguration of the Industrial Revolution Work Group (IRWG) in Abuja yesterday.
“We need to get to a point that we give a point line – is it the next 11 months? Is it the next 18 months? Of we don’t find evidence
“Otherwise things won’t change. We need to get to a point and give a timeline. Is it the next 12 months? Is it the next 18 months? If we don’t find evidence in our country, what work is being done to demonstrate the enablement, right? We’ll stop buying some classes of vehicles.
“And we can do it. That is the only way things can change for us. And things must change. We must stop contributing to job creation abroad. And not have any jobs created in-country,” the minister stated.
Former minister of Industry, Trade, and Investment Olusegun Aganga said the roadmap for reviving the nation’s industries must be built on four fundamental pillars: Policy reform and regulatory efficiency by streamlining bureaucratic bottlenecks, reducing the cost of doing business, and ensuring a policy environment that encourages industrial growth.
Others are infrastructure and energy solutions, creation of access to finance and incentives and technology and innovation through the positioning of Nigerian industries for the fourth industrial revolution by integrating digital transformation, automation, and research-driven innovation.
Dr Aganga who said policy inconsistencies are Nigeria’s major problem to achieving the desired industrialisation, stated that “A revitalised textile sector means jobs for thousands; a functional steel industry means infrastructure development; a flourishing agro-processing industry means food security.”
He told members of the working group that their duty is not merely an economic necessity but a patriotic duty.
According to Aganga, the IRWG represents a unique, strategic, and pragmatic approach to industrial policy-making. He said by bringing together key stakeholders from the public and private sectors, the initiative will drive a targeted and structured process to tackle the pressing challenges facing Nigeria’s manufacturing sector, resuscitate moribund industries, and create an enabling environment for sustainable industrial growth.
