by Tolu Orekoya
Vision 2020 is still the goal line which the president has drawn for accomplishments with regards to the country. With the stagnant power supply unable to meet the growing needs of consumers and manufacturers in the country, the presidency sought to reassure producers that the plan for power supply in the country is headed in a positive direction.
At the 40th Annual General Meeting of Manufacturers Association of Nigeria (MAN) held yesterday in Lagos, Samuel Ortom, Minister of State for Trade and Investment, who was representing the president, told the audience that “structural weaknesses standing between us and revolutionizing the power sector” was a priority on the presidential agenda.
“Some of the problems are deep, but not beyond the government. We are currently reviewing the lapses in the power sector to make it one of the best in the world in the year 2020. Nigeria is on the threshold of history, ready to join the world economic powers in the very near future”, he said.
Ortom also spoke of the expansion of foreign and local investment in the Nigerian economy, saying that “more than 16,000 investors have registered their intentions to do business worth about N6.6 trillion in just one year.” He also mentioned that electricity was key to building the country’s “export portfolio”.
He said the government’s effort at attracting local and foreign investors into the economy was yielding positive results. “More than 16,000 local and foreign
According to Punch MAN President, Kola Jamodu, said the manufacturing sector was one of the most powerful engines for economic growth and a catalyst for transformation of the nation’s economic structure. At the meeting, MAN proffered a blueprint to revamp and boost the electricity sector.