The National Agency for Science and Engineering Infrastructure, NASENI, has listed four opportunities for fast-tracking industrialization by Nigeria, including Leveraging Public-Private Partnerships Investment in local manufacturing, Green Technologies, and Digital Transformation.
Khalil Suleiman Halilu, Executive Vice Chairman/Chief Executive in a presentation titled “Fast-Tracking Industrialization Through Science and Engineering Infrastructure” at the WorldStage Economic Summit, WES, 2014 on Wednesday, September 25, 2024 in Lagos, said collaborative efforts between the government, private sector, and research institutions are essential for driving technological advancements while PPPs can leverage resources, expertise, and funding to accelerate innovation and industrial growth.
Represented by Ibrahim Dauda Coordinating Director F&A of NASENI, the EVC said: “Developing local industries can create jobs, reduce imports, and boost the economy. Investing in local manufacturing capabilities strengthens the domestic industrial base and reduces reliance on foreign goods.”
As for Green Technologies, he said adopting sustainable technologies was crucial for long-term industrial growth as green technologies minimize environmental impact, promote resource efficiency, and contribute to a more sustainable future.
Moreover, Halilu said, digital transformation entails harnessing the power of artificial intelligence, the Internet of Things, automation in industries to enhance efficiency, productivity, and competitiveness. Digital transformation is essential for staying ahead in the global marketplace.
The WES 2024 also attracted top executives and academicians including Dr. Aminu Maida, Executive Vice Chairman, Nigerian Communications Commission; Dr. Emomotimi Agama, Director General, Security and Exchange Commission; Prof Diran Akinleye, Head of Department of Economics, University of Lagos; Prof Yaqub Jameelah Omolara, Head of Department of Economics, Lagos State University.
The Securities and Exchange Commission said it approved nine new issuances with a combined value of ₦1.228 trillion for the Primary Market as at August 2024.
It’s Director- General, Dr. Emomotimi Agama said the approvals include four Rights Issues totalling ₦508.933 billion, one Private Placement valued at ₦10.05 billion, and four Public Offers amounting to ₦709.944 billion.
“These figures reflect the growing confidence in our capital market and underscores a reinvigorated Commission that is committed to facilitating orderly capital formation in Nigeria.”
Represented at the summit with the theme: Nigeria: Setting A Stage for Business and Economic Recovery by Mr. Tunde Kamali, Director, Office of the Director General, the SEC boss said the commission “is committed to positioning the capital market as a catalyst for Nigeria’s development goals.
“By fostering innovation and ensuring that the market meets the evolving needs of investors and the economy, we are creating an environment that supports sustainable growth and financial inclusion.
Nigerian Communications Commission also confirmed that it is working with major stakeholders in the telecoms industry to meet the ambitious targets of ensuring that broadband access is available to all Nigerians, with minimum speeds of 25 Mbps in urban areas and 10 Mbps in rural areas by 2025.
Mr Tunji Jimoh, Zonal Controller, NCC, Lagos, said as the agency charged with implementing the plan, it “is committed to expanding broadband infrastructure and creating an enabling environment for both local and foreign investments in the telecommunications sector.”
