Institute urges FG to focus on manufacturing, textile sectors

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FOLLOWING the controversy surrounding whether to devalue the Naira or not, President, Chartered Institute of Commerce of Nigeria, CICN, Dr. Adewale Olusoji, said it cannot save the economic situation but Federal Government to focus on the manufacturing and textile sectors.

Olusoji made the assertion in an interview in Abuja, where he urged the government to consider development of the non-oil sector.
He stated that aside from the agriculture sector that seems to have attracted slight attention, other sectors such as mining, commerce should be given needed supports.

The President, who emphasized on the significant of reliable power, said consistent power failure has been the major bane to developing the sectors especially manufacturing.

However, he urged industries to take advantage of alternative power sources rather than complete dependence on the primary power source of hydro and gas.

He said: “Manufacturing sector and industries cannot survive not to talk of growing when power remains an issue. A whole lots of businesses die within their first year.”

Olusoji pledged support of the institute in terms of capacity building to complementing efforts of the Federal Government on economic development.

He said it has become imperative for the government to bring on board various professional institutes and professionals to proffer economic solutions to move the it forward.

The Charted Institute of Commerce of Nigeria was founded in 1979, and has a mandate to promote commerce and economic development.

The institute has over 34, 000 students across the country with thousands of certified professionals serving in different sectors of the economy.

Source: Vanguard