The Federal Executive Council (FEC) has on Monday given its stamp of approval to the creation of the Presidential Council on Industrial Revitalization Roadmap, an initiative that is poised to revitalize and boost various industrial sectors within the country.
It was gathered that the council will be headed by President Bola Tinubu and will include ten subcommittees with dedicated responsibilities.
The Minister of Trade, Industry and Investment, Doris Uzoka-Anite, disclosed this on Monday.
Uzoka-Anite revealed it at the end of the FEC meeting, adding that the subcommittees will deliberate on various policies within different ministries and the Ministry of Industry, Trade, and Investment.
The Minister said, “We have a plethora of policies, frameworks, and guidelines aimed at reinvigorating industries across these diverse ministries and agencies.
“We are mandated to collaborate and devise a unified roadmap for each of these subcommittees, all geared towards fostering a comprehensive resurgence of the national economy in accordance with Mr President’s eight-point agenda.
“At the conclusion of this effort, we anticipate an upsurge in investment across various industrial sectors.
“We also expect to witness a surge in job creation, bolstering employment figures and an overall improvement in our indices, particularly our GDP growth rates, projected to escalate from 3.5% to an aspirational 7%, with a GDP base of approximately 1 trillion, aligning with Mr President’s vision.
“The impetus behind this initiative is our strategy to stimulate industrial growth, with a particular focus on catalysing the growth of small and medium-sized enterprises (SMEs) within the broader industrial landscape.”