Local Production Will Stabilise Supply Chains, Strengthen Economy – Tinubu

President Bola Tinubu has emphasised the importance of local production in stabilising supply chains and strengthening the Nigerian economy.

Representing Tinubu, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stated this at the 50th Anniversary and commissioning of Africa’s largest fibre optic manufacturing facility by Coleman Technical Industries Limited in Ogun State.

The facility is expected to enhance Nigeria’s digital economy, promote import substitution, and contribute to the country’s economic growth. The commissioning of the facility is seen as a significant milestone in the country’s journey towards self-sufficiency and economic development.

Tinubu stated that the newly established plant serves not just as an additional facility, but as a crucial asset that enhances the competitiveness of the Nigerian economy.

According to him, with every kilometre of fibre produced, we are reinforcing the backbone of our digital economy, which, in turn, accelerates broadband access for both homes and businesses.

This advancement enables secure e-commerce, powers smart factories, and modernises public services.

He noted, “This project supports import substitution through local production, helping to stabilise supply chains and strengthen Nigeria’s macroeconomic landscape. The unwavering commitment expressed throughout this endeavour indicates a bright future for Nigeria’s manufacturing sector and its role in the continental market of 1.4 billion people.”

The governor of Ogun State, Dapo Abiodun, said that “today’s commissioning represents a pivotal moment for Ogun State and Nigeria’s digital revolution. In an era defined by connectivity and data, fibre optics are fundamental to modern communication, as highlighted by industry experts.”

According to him, establishing this factory signifies not just industrial growth but a crucial step toward bridging the digital divide, enhancing national connectivity, and driving technological advancement.

The governor of Lagos State, Babajide Sanwo-Olu, emphasised the importance of industrial and digital advancement for the nation, saying that “this newly expanded fibre optic facility signals that the digital revolution on our continent will increasingly be driven by solutions developed right here in Africa, through the ingenuity and efforts of our own people and industries.”

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, stressed the need for businesses like Coleman to become case studies, illustrating the pivotal role of the digital economy in fostering societal prosperity.

The managing director/chief executive officer of Coleman Wires and Cables Industries, George Onafowokan, stated that, “the Factory we are commissioning today is single-handedly the Largest Fibre Optic Cable Factory by capacity and the First Fibre-Reinforced Plastic (FRP) Manufacturing Factory in Africa today.”

He stated that “with the continued support of government, financial institutions, and stakeholders here today, Coleman is on track to become a N15 trillion ($10 billion) revenue enterprise, to be gotten from local and over 50 per cent from export repatriation and export-generated revenue.

“Our next major project is already on the horizon: a $100 million Fibre Optic Cable Drawing Tower, designed to deepen local content, reduce imports, promote exports with a competitive advantage, and position Nigeria as Africa’s hub for fibre optic technology, ” he stressed.

The facility, built in partnership with U.S.-based Corning Inc., will support broadband expansion, digital inclusion, and export growth under Nigeria’s $1 trillion economic ambition.