Connect with us

Economy

Minister assures private sector of govt’s support to reboot economy

Published

on

Minister assures private sector of govt’s support to reboot economy

The Minister of Industry, Trade and Investment, Chief Niyi Adebayo, has assured the Organised Private Sector of Nigeria (OPSN) of the government’s support to its efforts to reboot the economy in the face of the COVID-19 pandemic.


Mr Ayoola Olukanni, Director-General, Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), said in a statement on Sunday that the minister gave the assurance at a private meeting with the OPSN.

The News Agency of Nigeria reports that members of the OPSN at the meeting were the Manufacturers Association of Nigeria (MAN), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Nigeria Employers’ Consultative Association (NECA).

Others were the Nigerian Association of Small and Medium Enterprises (NASME) and Nigerian Association of Small Scale Industrialists (NASSI).

Adebayo said that his ministry would support and work closely with the private sector as government works to reboot the economy in the face of the COVID-19 pandemic.

The minister reaffirmed the role private sector had to play in the bid to restart the economy of the nation.

He said that series of stimulus packages would be made available soon to assist operators and operations in the private sector.

“These include a N50 billion survival funds for MSME; and a N15 billion Guaranteed Uptake Scheme to save 500,000 jobs,” Adebayo said.

He also revealed that under some of these interventions, 40 per cent of the funds was reserved for women-owned businesses.

Also, Olukanni said the meeting discussed and agreed that the implementation of project and programmes under the Economy Sustainability Plan recently approved by National Executive Council would be in close cooperation with members of OPSN.

In her remarks, the OPSN President Hajiya Saratu Iya Aliyu, lauded the minister for the opportunity given to the private sector to present its positions and requests.

Iya Aliyu called for closer ties between the OPSN and the Ministry of Industry, Trade and Investment, especially as the country struggles to save and reboot the economy.

She said the present situation truly presented an opportunity to diversify the economy and make it more self-reliant, adding that steps must be taken toward attainment of the goal.

Other issues discussed at the meeting were Maritime Port Reforms; Appropriate Gas pricing; Special Economic Zones and Industrial Clusters, as well as stable and regular power supply.

Edited By: Olagoke Olatoye (NAN)

Rukayat Moisemhe: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a media subscriber of the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Israel describes UN rejection of Iran arms embargo as ‘disgrace’ Amaechi, Mohammed inspect Lagos-Ibadan rail project  My album, “Jehovah”, lifts people going through challenges — Gospel songstress Total blackout in Rivers as angry youths shutdown Afam transmission lines Police arrest pastor, 5 others for alleged child theft in A’Ibom Delta approves 3 additional private schools for JSS exams Buhari rejoices with Kingsley Osadolor at 60 COVID-19: survivors say mental health key to defeating virus Kogi Poly expels 25 students for examination malprcatice NBS says 21.76m Nigerians unemployed in 2020 Refugee Commission commends Humanitarian Affairs Minister Latin America’s coronavirus cases exceed 6m Militants attack kills 2 policemen in Afghanistan’s eastern Kunar province Britain marks 75 years since Japan’s defeat in World War II S/Korea capital returns to tougher social distancing rules as virus cases spike Food security: Campaign for Democracy tasks Niger Govt. on security India set to mass produce COVID-19 vaccine, launches digital health mission – Modi UN rejects United States bid to extend Iran arms embargo ASUU kicks against alleged take over of institute by Kano Govt COVID-19: Nigeria records 7 more deaths, 329 fresh cases Barca’s Pique calls for wholesale changes after “shameful” defeat INEC seeks stakeholders collaboration in instituting electoral transparency Bayern Munich must stay grounded in spite of Barca demolition, coach says FC Barcelona’s Umtiti tests positive for COVID-19 Bauchi Gov. condoles family of murdered lawmaker, Mante Football united behind Infantino, FIFA general secretary says Council approves health care provision fund guideline Labour ministry denies complicity in human trafficking UN ‘strongly condemns’ rights abuses in Cameroon Tourism operators reveal Top 10 romantic destinations for honeymoon in Nigeria DG NTA lauds Lalong for peace efforts in Plateau Post COVID-19: Ministry holds public enlightenment on legal metrology Expert call for adequate funding to promote research on stem cell transplant JSS 3 students resume Aug. 16/17 – KDSG FG inaugurates committee of professionals to oversee intergovernmental affairs Mafa: Borno Govt resettles 2,800 displaced families 6-years after insurgents’ attack NAIC, AFAN partner to insure 40m farmers against flood, other disasters Lagos Assembly proposes N20m licence fee for lottery, betting operators Lagos govt charges Lagosians to plant coconuts trees Edo unemployment rate declines to 19% under Obaseki’s job creation drive-official PDP reconstitutes Kaduna State caretaker committee Nasarawa Deputy Governor tasks journalists on investigative reportage Sales rep docked over alleged theft of employer’s goods worth N430,000 Shop owners, traders lament as Kuje Council demolishes structures LASG reverses 10% service charge for trips on e-hailing platforms Unilag ASUU says no going back in rejection of VC’s removal Court remands 2 men over alleged serial robberies with knife, rape KEDCO loses N260m to vandalism in 3 months NCDMB Tower: A boost to local content — P100 companies Osun-Osogbo Festival ends with low turnout due to COVID-19