By Kingsley Alu, Abuja
The federal government has said that increased support for local producers would also boost the manufacturing sector’s contribution to the Gross Domestic Product (GDP).
The government said it is essential if the productive sector were to become Africa’s preferred manufacturing hub and a dominant force in the AfCFTA market.
The managing director, NEXIM Bank , Abubakar Abba Bello; executive secretary, Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku, and the director-general, Nigerian Export Promotion Council (NEPC), Mr Segun Awolowo, gave this commitment yesterday after a successful on-the- spot inspection of the top-of-the- notch facilities of Halibiz Industries at the Idu Industrial Centre, Abuja.
President of the firm, Qs Adamu Aliyu, had earlier in his presentation said a Fast-Moving Consumer Goods (FMCG) manufacturing firm like Halibiz Industries that is creating jobs and adding value to the FMCG eco –system would need Pioneer Status to expand.
He said this is more so as the FMCG market is very big and the specificity of the sector is also underlined by the requirements and pressures that are placed on the quality of products.
While also explaining that the status would provide a buffer to enable the timely recoupment of capital investments incurred by the company at the start-up stages, Aliyu told the chief executives that as part of its ambitious growth and expansion plans, the company already had its sight set on the export market, specifically the AfCFTA with its over top-of-the- notch 14 product lines.
He disclosed that to accommodate the vision of the company, more structural expansion is presently ongoing, adding that there are ample opportunities if the country can produce what it consumes, as it would not only create jobs but also feed the world.