Absence Of Strong Enterprises Hinders Industrial Dev – NIPC

The Nigerian Investment
Promotion Commission (NIPC) has said the absence of strong and virile enterprises had hindered the development of Nigeria’s industrial sector.
The Acting Executive Secretary of NIPC, Alhaji Abulkakir Hassan, said this at the inauguration of the Abuja Chapter of Entrepreneurs’ Organisation (EO Nigeria) in Abuja, on Wednesday.
Hassan said that enterprises had been widely acknowledged as the springboard for sustainable industrial and economic development.
The acting executive secretary was represented by the Director of Infrastructure in the commission, Alhaji Sulaiman Takuma.
According to Hassan, the numerous goods being produced by enterprises provided veritable means of large-scale employment as they were usually labour intensive.
He said that enterprises also provided training ground for skills acquisition which was critical to industrial development as they rely on the use of raw materials.
Hassan said that these contributions explained why governments and international agencies mobilised efforts toward the realisation of sustainable industrial and the creation of mass employment through rapid growth and development of enterprises.
He stressed the need for the development of indigenous entrepreneurship which would lead to acquisition of requisite skills and relevant technical training and development of modern enterprises.
The executive secretary said that for enterprises to meaningfully contribute to economic growth, development and transformation of the country, government policy focus must seek to address unstable macro-economic environment.
According to him, the absence of prudent fiscal management should also be addressed.