Federal Government says present administration is exploring modalities to eliminates over-dependence on oil and gas through massive investment into non-oil sector of the economy.
The permanent secretary, Federal Ministry of Trade, commerce and investment, Dr. Evelyn Ngige stated this in Bauchi during the opening ceremony of the 14th meeting of the National Council on Industry, Trade and Investment.
The Five-day meeting was organised by the Federal Ministry of Industry Trade and Investment (FMITI) in collaboration with the Bauchi state Ministry of Commerce and Industry.
According to her, the meeting could not have come in a better time than now when all efforts are being made by the government led by president Muhammadu Buhari to further fortify the economy by devising means to diversify it from its present overdependence on the oil and gas sector.
She said, the National Council on Industry, Trade and Investment is the highest Policy Advisory Body in the sector, under the Chairmanship of the Honourable Minister of State of Industry, Trade and Investment, Mariam Katagum.
The Permanent Secretary explained that the main purpose of the Council meeting was to brainstorm, strategise, deliberate and recommend policies and programmes aimed at addressing challenges facing the sector.
She hinted that recommendation reached by the Council will be escalated for the consideration of the Federal Executive Council, after which the implementation of the decisions will be coordinated by the Federal Ministry of Industry, Trade and Investment.
Ngige, who revealed that the council had received over 70 memoranda from various Ministries, Department and Agencies (MDAs) for deliberations and consideration, urged the stakeholders to thoroughly examine them for appropriate recommendations.
She said these recommendations would further strengthen the sector to deliver economic growth and development through industrialisation and increase investment in the local economy for employment generation and wealth creation.
In her address, the state Commissioner for Commerce and Industry, Zainab Baban Takko, said that the National Council meeting was a very important forum where far-reaching decisions pertaining to the industrial growth and development of the Country were discussed.
She added that it is a forum where workable solutions are proffered to move the nation towards economic independence and self-reliance in both the public and private domains of the economy.
The commissioner further said that Bauchi state had keyed into numerous federal government Programmes and initiatives bordering on Commerce, Industry and Investment.
The theme of the 14th meeting in Bauchi is ‘Strengthening Industry, Trade and Investment sector in promoting development in the country.’
