PAN: $9bn Dangote Investment Will Boost Manufacturing Sector In Nigeria
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The General Manager Operations, PAN Nigeria, Engr Augustine Ikebudu Okolo, has disclosed that the investment of Dangote Group in petroleum refining, petrochemical and fertiliser plant in the Olokola free trade zone would boost activities in the manufacturing sector.
This is even as he noted that such investment would also provide opportunities for engineers to contribute their quota in revamping the economy adding that Nigeria spent $7.4bn in importation of vehicles and automotive parts last year.
He stated this in Abuja yesterday during the opening of 2016 Engineering Week and Annual General meeting, organised by the Nigeria Society of Engineers (NSE ) Abuja branch with the theme, “Revamping the Nigerian Manufacturing Sector: Great Responsibility for Engineers”.
According to him, “To achieve high level of activity in the manufacturing sector, we must have effective capacity, design capabilities, design and development capacity”.
Okolo who was a guest speaker listed policy somersault , infrastructure and equipment decay and inadequate electricity supply as the major challenges confronting the manufacturing sector.
He said there is a need for the federal government to initiate massive development of cities and industrial clusters adding that economic development is dependent on cities and industrial clusters.
Also speaking , the Chairman of NSE Abuja branch, Engr Yakubu Ali Garba decried the moribund state of manufacturing industries in Nigeria stressing that there is a need to diversify the economy away from over dependence on oil.
He expressed satisfaction with the progress of work at Abuja airport expansion project even as he sought the introduction of maintainance culture to sustain the facilities.
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