Senator Expresses Worry Over FG’s Vision 2020

Friday Ekeoba and Sola Fadere, Lagos - 22.03.2008

The Chairman, Senate Committee on Commerce and Industry, Senator Kamarudeen Adedibu, has expressed worry over the federal government’s Vision 2020 where it aims at transforming the country into one of 20 most developed economies in the world.

Adedibu said unless government took concrete steps to develop the real sector of the economy, growth recorded in other sectors would soon be adversely affected.

The senator made these remarks on Thursday in Lagos at a one-day stakeholders workshop organised by the Commerce and Industry Correspondents Association of Nigeria (CICAN).

Adedibu said the National Assembly would in the next three weeks come up with a bill that would help galvanise the real sector. He added that part of the bill was to bring together stakeholders in the real sector of the economy and find a way to use the money from the excess crude oil to boost the sector.

Speaking also at the workshop, Minister for Commerce and Industry, Mr. Charles Ugwuh, said the government close to give licence for bulk cement importation of 11.5 million metric tonnes to bridge the gap between national demand of 16.5 million metric tones as against 6.5 metric tones locally produced in 2007 by cement manufacturers.

He noted that the measure which is expected to last for only six months added that the government would continue to provide the enabling environment towards achieving self-sufficiency in cement production within the shortest possible time.

Meanwhile the president, Manufacturers Association of Nigeria (MAN), Alhaji Bashir Borodo, who was represented at the occasion by Chief Ifejika, said for the real sector to thrive, government needed to adequately develop the energy and transportation sectors of the economy.