Acting President inaugurates Industrial Policy and Competitiveness Advisory Council

Group picture of members of The Industrial Policy & Competitiveness Advisory Council.

Acting President Yemi Osinbajo Tuesday inaugurated the Nigeria Industrial Policy and Competitiveness Advisory Council, which will spearhead the industrial agenda that will boost the contribution of manufacturing to the country’s Gross Domestic Product (GDP) by 250 per cent over a five-year period.The ambitious agenda will make Nigeria a manufacturing hub for West Africa and diversify the economy from its over-dependence on oil.

The council is made up of leaders in the private and public sectors and will be chaired by Osinbajo, while the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, and President of Dangote Group, Alhaji Aliko Dangote, will serve as vice-chairmen, representing the public and private sectors, respectively.

The alternate vice-chairmen of the council are the Minister of State for Industry, Trade and Investment, Ms. Aisha Abubakar and Chairman of ANAP Business Jets Limited, Mr. Atedo Peterside.

Other members of the council from the private sector include Mr. Kola Jamodu, Alhaji Abdulsamad Rabiu, Mr. Innocent Ifediaso Chukwuma, Mr. Rahuk Savara, Mr. John Coumantarous, Mrs. Stella Okoli, Mr. Makul Mathur, Mr. Obi Ezeude, Mr. Fidelis Ayebea, Mr. Lazarus Angbazo and Mrs. Juliet Anamah.

Others are Mrs. Kofo Akinkugbe, Alhaji Ado Mustapha, Alhaji Kamaldeen Yusuf, Alhaji Adamu Atta, Mr. Charles Abudu, Alhaju Ibrahim Salisu Buhari, Mr. Isiaku Tofa, Mr. Ade Ogundeyin and Dr. Frank Udemba Jacobs.

Public sector members of the council are the Ministers of Finance, Budget and National Planning, Agriculture and Rural Development, Power, Works and Housing, Transportation, Minister of State for Petroleum Resources, Ministers of Mines and Steel and Science Technology, as well as the Central Bank of Nigeria (CBN) Governor.

The council will also have a technical committee whose members are Dr. Yemi Dipeolu, Ambassador Chiedu Osakwe, Mr. Waheed Olagunju, Mr. Olusegun Awolowo, Ms. Yewande Sadiku, Dr. Yemi Kale and Dr. Ayo Teriba.

The council’s secretariat shall be headed by a project coordinator from the Ministry of Industry, Trade and Investment, with support from a leading firm to drive implementation.
The secretariat will propose and develop the agenda items for the council’s deliberations and identify the necessary resources required to support its deliberations.

It will also synthesise the output from deliberations and conduct research, where necessary, to affirm proposals and produce reports and statements, as well as coordinate the council’s interaction with public and private sector entities.

The broad terms of reference of the council is to provide input to the formulation of sectoral and industrial policy, and government interventions aimed at enhancing the performance of the Nigerian industrial sector.

In addition, the council will provide feedback on government policies and programmes that affect the industrial sector; make recommendations, propose initiatives and bring perspectives that promote competitiveness and growth of the Nigerian industrial sector.

It will also make inputs to Nigeria’s trade negotiations and agreements with a view to ensuring that the view of industry and industrialisation targets are taken into cognisance.
It is to also periodically review performance, trends and issues within the industrial sector, with a view to proposing interventions to enable investments and competitiveness.

Other terms of reference include proposing targets for national industrial output and investments across major industrial sectors; tracking the progress made on specific public and private sector initiatives aimed at transforming the industrial sector and meeting its industrialisation targets; and serving as ambassadors of the industrial sector and as a platform to facilitate communication on current and emerging issues affecting industry, and ensuring regular interaction between government and stakeholders in the industrial sector.