Editor
By Fatima Saka
The Nigeria Senate has emphasized on the needs to restore the country’s industry deficiency and provide a conducive legislative environment to promote greater Foreign Direct Investments that will boost the economic value of Nigeria.
The Chairman Senate Committee on Industries, Distinguished Senator Francis Fadahunsi, made this assertion at the Inaugural Committee Meeting held on Wednesday at the Senate Building National Assembly Complex.
He Added that this will involve all the investors, especially the majority Micro, Small and Medium Enterprises (MSMEs) as well as obtaining increased efficiency in revenue generation and budgetary expenditure by Government Agencies under the Oversight of this Committee, has become imperative.
“It is with great joy and a high sense of duty, that I welcome you all to this
inaugural meeting of the Senate
Committee on Industries. I thank the Almighty God and congratulate us all, for being found worthy by our respective
Constituents and the Senate Leadership to be elected into the 10th Senate and
serve in this very important Committee.
“And to be a Senator of the Federal Republic of Nigeria, at this period in our nation comes with great responsibility.
“Permit me to quickly remind us, distinguished colleagues, that the task ahead of this Committee, as it concerns its specific mandates, is enormous. Truth be
told, our actions and inactions will contribute significantly to the success or
otherwise of this 10th Senate and the nation’s economy at large, which frankly
speaking, is presently not where it ought to be.
“It may interest you dear colleagues, that based on the Senate Standing Rules,
the mandate of the Committee follows:
“Standardization and quality control, Industrial development matters generally, Incentive for industrial development, National industrial planning, Small-scale Industries, Aid to industries, Heavy Industries set up by the Federal Government of Nigeria, Participation of Small BusinessS enterprises, procurement, and Government contracts, Promotion and administration And of technology y transfer programmes, Industrial financing, Privatization and commercialization. Industrial Training Fund, and Annual budget estimates.”
The Chairman further highlighted the underlisted Ministry Department and
Agencies (MDAs) are under the direct oversight of the Senate Committee on
Industries which includes: “Federal Ministry of Industry, Trade, and Investment (FMITI);, National Sugar Development Council (NSDC);, Small and Medium Enterprises Development Agency of Nigeria,(SMEDAN);, The Industrial Training Fund (TF);, Standards Organization of Nigeria (SON);, National Automotive Design and Development Council (NADDC); and Bank of industry (BOI).”
“Distinguished colleagues, at this juncture, permit me to crave your indulgence and plead that you do not hold back from coming up with your positive contributions at any time, to ensure the success that we all desire. The Secretariat has already drawn up a draft work plan for the Committee.
“The details of this plan will be considered and brought before you, distinguished
colleagues after some fine-tuning tor tinal approvals one immediate suggestion, is to Commence work as quickly as possible, with our search lights beamed on the Automotive Industry; its regulatory Agency
the National Automotive Design and Development Council (NADDC) and the
many Auto Assembly/Manufacturing Plants in Nigeria.
“This is especially so, inview of the need to shore up and expand revenue sources of the nation and because of the recent Autogas Conan Programme of the Federal Government as a key approach to ameliorate the negative impact of the fuel
tovernment, as a Key approach subsidy removal on citizens, among other řeasons. You will recall that President Bola Tinubu on October 1st said that the Federal Government would make provision for 55,000 CNG Conversion Kits to kick-start the auto-conversion programme.
The plan is to take on each Industrial sub sector and Agencies or the Committee’s Oversight, in like manner, all the agencies under the Committee oversight, such as the Standards Organization of Nigeria (SON), the National Sugar Development
Council (NSDC); the Industrial Training Fund (ITE): Small and Medium
Enterprises Development Agency of Nigeria (SMEDAN) and the Bank of
Industry (BOI) are to be thoroughly engaged by the Committee strategically
and proactively, for the good of Nigerians, especially, the numerous young
men and women across Nigeria, who presently are either underemployed or
unemployed.
“If media reports credited to the Minister of Trade, Industry, and Investment,
Doris Uzoka-Anite about the approval of a Presidential Council on Industrial
Revitalization Roadmap by the Federal Executive Council (FEC), to be Chaired
by Mr. President are indeed true; that can be taken as a bold step in the right
direction. This of course, would be one policy that should be of special interest
to the Committee and we shall endeavor to follow through.
“In conclusion, I wish to appreciate your presence, dear colleagues at this
maiden meeting. It is my hope and prayer, that we shall work as a team, with the
bureaucratic support of our hard-working Secretariat, to deliver on this important national assignment bestowed on us by the leadership of the Senate and the Nigerian people to move the Industrial Wheels of our great nation
forward.”
