Expo to explore economy diversification

Nigeria manufacturing sectorFrom OKORO CHINEDU in Lagos, Nigeria
LAGOS, (CAJ News) THE country’s leading manufacturing experts will early next year converge in Lagos for the Nigeria Manufacturing Expo.

The event will be launched in response to the government’s commitment to industrialisation and Nigeria’s need to diversify.

There is more to Nigeria than oil, says Russell Hughes, Director of the Nigeria Manufacturing Expo.

He pointed out that last year Nigerian imports of food processing and packaging machinery increased over 20 percent to $365 million.

Plastics and rubber products grew by 23,8 percent and $7,4 billion was spent on importing vehicle and automotive parts along with The National Automotive Council (NAC) disbursing $46m in loans aimed at developing local production.

Hughes said as President Muhammadu Buhari stated during his first visit to the United States recent, Nigeria was the most populous nation and largest market in Africa with vast human and natural resources, blessed with abundant young skilled workforce.

There is no other way to expand economic opportunities and create employment opportunities for millions of our youths than boosting domestic manufacturing, undertaking infrastructural development and industrialisation,said Hughes.

The Nigeria Manufacturing Expo is scheduled for March 15-17 March.

The event is hosted by Event Patrons, the Manufacturers Association of Nigeria (MAN) in partnership with Spintelligent Pty and Clarion Events Ltd, African event specialists and organisers of the West African Power Industry Convention (WAPIC).

-CAJ News

Short URL: http://cajnewsafrica.com/?p=7822

Posted by on Aug 27 2015. Filed under Africa & World, Finance, Finance & Banking, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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