The Oluwo of Iwoland, Oba Abdul-Rasheed Akanbi, has asked the Federal Government to look beyond agriculture and urgently begin the process of industrialising the nation in order to address the current economic downturn.
The monarch, in a statement by his media adviser, Oriyomi Akinbote, said it had become “very” imperative for the President Muhammadu Buhari-led administration to formulate policies that would gear the economy towards industrialisation.
Oba Akanbi also asked President Buhari to consider outsourcing and the involvement of Nigerians in the diaspora in the implementation of the policies.
He said, “As much as I believe that agriculture is good and lucrative, I don’t think it would go a long way in getting the economy out of recession quickly as industrialisation would do.
“For example, let’s think about how industrialisation has brought an unprecedented high unemployment rate and revenue into the coffers of China. Many American and European companies now have their plants in China because of the many economic advantages (cheap labour and other incentives) the country offers.
“Nigeria could do the same as China and even beat it because there are better opportunities here. We have abundant raw materials to support our production lines. The population is there and there is a huge home market.
“Nigeria, unlike China, is also strategically located and it’s closer to Europe and America, where investments could be attracted. So, I want to advise that we leave the tiling of the land for our neighbours like Niger Republic, Mali and Chad and let us focus on industrialisation because of its many inherent advantages.”
Punch
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