Buharis new industrial policy

You're referring to the "National Industrial Policy and Competitiveness (NIPC) 2020" recently launched by the Federal Government of Nigeria under the leadership of President Muhammadu Buhari.

The policy aims to revitalize the country's industrial sector, promote economic growth, and increase competitiveness. Here are some key highlights:

Objectives:

  1. Promote industrialization and economic diversification
  2. Enhance competitiveness and productivity
  3. Increase value addition and exports
  4. Improve the business environment and reduce bureaucracy
  5. Foster innovation and entrepreneurship

Strategic Thrusts:

  1. Industrialization and Value Addition: Encourage the development of new industries, upgrade existing ones, and promote value addition to increase the country's competitiveness.
  2. Infrastructure Development: Improve the quality and availability of infrastructure, including energy, transportation, and communication networks.
  3. Human Capital Development: Develop the skills and competencies of the workforce to meet the demands of the industrial sector.
  4. Innovation and Entrepreneurship: Foster a culture of innovation and entrepreneurship, and provide support for start-ups and small and medium-sized enterprises (SMEs).
  5. Public-Private Partnership: Encourage collaboration between the public and private sectors to drive industrial development.

Key Initiatives:

  1. Industrial Parks and Estates: Establish industrial parks and estates to provide a conducive environment for industries to operate.
  2. Special Economic Zones (SEZs): Establish SEZs to promote export-oriented industries and attract foreign investment.
  3. Industrial Skills Development: Develop a skills development program to equip workers with the necessary skills for the industrial sector.
  4. Innovation Hubs: Establish innovation hubs to promote research and development, and innovation in key sectors.
  5. Public-Private Partnership (PPP) Framework: Develop a PPP framework to facilitate collaboration between the public and private sectors.

Implementation Plan:

The policy will be implemented through a multi-stakeholder approach, involving the Federal Government, states, local governments, private sector, and civil society organizations. The implementation plan includes:

  1. Establishment of a National Industrial Policy Implementation Committee: A committee will be set up to oversee the implementation of the policy.
  2. Development of Sectoral Industrial Policies: Sectoral industrial policies will be developed to guide the implementation of the policy in specific sectors.
  3. Capacity Building and Training: Capacity building and training programs will be implemented to equip stakeholders with the necessary skills and knowledge.
  4. Monitoring and Evaluation: The policy will be monitored and evaluated regularly to ensure its effectiveness and make necessary adjustments.

Overall, the National Industrial Policy and Competitiveness (NIPC) 2020 aims to revitalize Nigeria's industrial sector, promote economic growth, and increase competitiveness. The policy's success will depend on the effective implementation of its initiatives and the collaboration of all stakeholders involved.