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FG aims at 10% GDP contribution from manufacturing sector in 5 years

In line with the present administration’s thrust to revivify the manufacturing industry, the Federal Government has put plans in place to raise the sector’s Gross Domestic Product (GDP) contribution from its current 4 percent to 10 percent in 2019.

“We launched the National Industrial Revolution Plan (NIRP) and we have put plans in place to increase GDP contribution of the sector from its current 4 percent to 10 percent in 2019”, said President Goodluck Jonathan, who was represented by Vice President Namadi Sambo, during the commissioning of Procter Gamble’s (PG) plant at Agbara, Ogun State on Thursday.

According to Jonathan, the present administration has been consistent in eliminating bureaucratic obstacles to manufacturing investments and providing enabling infrastructure for businesses, adding that the government is currently focused on areas and products which the country has comparative and competitive advantage on.

“Businesses are now being registered under 24 hours. Lagos-Sokoto road is on the drawing board and work will be executed on the public-private partnership (PPP) basis. Contract for Lagos-Ogun-Ibadan has also been

awarded”, he enthused, adding that PG’s completion of the mammoth project was an indication that the administration’s economic and market reforms were working.

Ibikunle Amosun, governor, Ogun State, said it is gratifying that PG, the world’s leading name in the Fast-Moving Consumer Goods (FCMG) market, has invested over $300 million in the country, stating that the company’s choice of Ogun is an indication that the state has become a hub of industries.

“This investment will create over 2,000 direct and indirect jobs and engage over 3,000 Small and Medium scale Enterprises (SMEs). This is an indication that Ogun State has become a clear choice for foreign direct investment (FDI)”, he said, adding that the investment will further reduce the crime rate, while his administration will keep making the state conducive for business.



Culled from :Here

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