Business
Industrial Policy Implementation ’ll Increase Production -FG
The Federal Ministry of Industry, Trade and Investment (FMITI) says implementation of the Nigeria Industrial Policy (NIP) will improve growth, promote made in Nigeria goods and increase industrial production.
Permanent Secretary, FMITI, Mr Edet Akpan, said this at a six-day brainstorming on the “Validation of the Revised Draft Nigeria Industrial Policy” in Lagos on Monday.
According to him, implementation of the NIP will also increase foreign exchange earning, thereby encouraging sustained and inclusive contributions to the Gross Domestic Product (GDP).
“The last published industrial policy took place in 2003, while the initiative to review this particular document started in 2014.
“The Federal Ministry of Industry, Trade and Investment has since began the engagement of stakeholders and the international community to ensure that the document has both domestic and international flavour.
“The validation exercise, therefore, is set to review what was dofasttrackr and accommodate reasonable and concerned inputs from the varied Ministries, Departments and Agencies (MDAs) assembled.
“The Nigeria Industrial Policy (NIP) validation is very apt and indeed long overdue in positioning and responding to the Federal Government economic direction,” Akpan said.
Akpan, who was represented by Alhaji Tijani Inuwa, a director in the ministry, stressed the need to have a working document for the investing public and decision makers.
Akpan said that the NIP seeks to fast-track the industrial development of the country based on its endowed resources and special prominence to Micro, Small and Medium Enterprises (MSMEs).
Also speaking, the Director, Industrial Department of FMITI, Mr Adewale Bakare, said that the quest for enduring industrial policy was everybody’s business.
Bakare called for continued engagement as the country diversify its economy from oil to non oil sectors by harnessing the opportunities that abound from the vast natural resources of the country.
The President, Manufacturers Association of Nigeria (MAN), Mr Mansur Ahmed, in his own speech, said that Nigeria would benefit from the new African Continental Free Trade Area Agreement.
He said this, however, depended on the effectiveness of the country’s industrial policy and the quantum of Nigerian Manufacturing products available for sale at the continental market.
“MAN is therefore delighted to be part of this exercise that will enable stakeholders to validate the revised industrial policy in this consultative platform.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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