President Muhammadu Buhari hinted yesterday, that he
would gladly reverse or abandon some economic policies he inherited from past
administrations, if doing so would lead to the creation of more jobs for
Nigerians.
Accordingly, he has directed
the Ministry of Industries, Trade and Investment, and that Finance, as well as
the Central Bank and other relevant government agencies to evolve, before next
year’s budget, new policies to boost domestic manufacturing.
Buhari, who stated this at a
meeting with the executive members of the Manufacturers Association of Nigeria
(MAN) in the Presidential Villa, Abuja, lamented that the textile industry that
employed about 320,000 people in the past only has about 30,000 now.
Presidential spokesman, Mr.
Femi Adesina, quoted Buhari as saying in the meeting: “We are in difficult
times economically, but we’ll continue to do our best for manufacturing to pick
up.
Expressing regret at the dwindling fortunes of the
textile industry, the president said, “It shows the carelessness of past
governments if almost 300,000 people lose jobs in a single sector. We have a
clear idea of how we can stimulate employment and we will work very hard to do
so.”
Earlier, MAN president, Dr
Frank Udemba Jacobs, had appealed for a review of policies that were stifling
the manufacturing sector.
He told the president that a
robust manufacturing sector, was essential to the country’s economic wellbeing.
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