Govt Unveils Plans to Revive Ailing Industries

Dr. Okechukwu EnelamahThe Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah
  • Govt Unveils Plans to Revive Ailing Industries

The Federal Government has unveiled plans to revive collapsed industries across the country.

Disclosing this on Wednesday while declaring open a five-day management retreat for workers of the Standards Organisation of Nigeria, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, pointed out that the current economic downturn necessitated the development of viable initiatives introduced by various arms of government.

He said, “These include the recovery and growth plan by the Ministry of Industry, Trade and Investment aimed at resuscitating collapsed industries, boosting trade, attracting responsible foreign direct investments, development of the Micro Small and Medium Enterprises and enhancing patronage of made- in-Nigeria goods.

Commenting on the theme of the programme, ‘Repositioning the Standards Organisation of Nigeria for Optimal Performance in a Diversified Economy’, the minister said it was apt given the economic diversification drive of the Federal Government away from oil.

“The role of SON in this regard cannot be overemphasised. You must reinvigorate your strategies in the fight against the influx and distribution of substandard products as part of measures to protect the local industries from unfair competition and re-position them for export to earn foreign exchange.”

He added that the collapse of global oil prices had provided a golden opportunity for Nigeria to develop its other endowed resources to the maximum capacity.

He said, in the light of this, more small businesses would require the services of SON, saying, “Your participation in the ongoing MSME clinic provides you the feel of Nigerians and the work that lies ahead in furtherance of the ease of doing business initiative,” he stated.

The Director-General of SON, Mr. Osita Aboloma, said that the retreat was organised annually for management and some middle-level officers at SON whose duties were pivotal to the success of the organisation.

He said holding the retreat afforded him an opportunity to fulfil his promise of running a transparent and all-inclusive organisation.

He said, “During the retreat, an overview of the departments and units will afford them the opportunity to outline the progress made in the past year, in line with the targets they set for themselves; the challenges faced and their plans for the years ahead.

“In the end, this will encourage cross-departmental collaboration and strengthen internal bonds in order to enhance effective service delivery.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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