Vice President Kashim Shettima has called on African countries to take greater control of their natural resources and strengthen their participation in global trade by investing in local industries and value addition.
Shettima made the call on Friday in Cotonou, Republic of Benin, during a tour and assessment of the Glo Djigbé Industrial Zone, GDIZ, where he inspected facilities involved in the processing of cotton, cashew and soya beans.
According to the News Agency of Nigeria, NAN, the Vice President said Africa must maximise its vast natural resources by developing industries capable of transforming raw materials into higher value products.
He expressed satisfaction with Benin’s efforts to establish integrated production and export systems for locally sourced resources, describing the GDIZ as an African success story in industrial development.
Shettima regretted that Africa currently accounts for only about one per cent of the global cotton industry, which he said is valued at approximately 370 billion dollars.
He said reviving Nigeria’s textile value chain could create millions of jobs, increase non oil exports and stimulate economic activities across the country.
The Vice President said the visit was undertaken at the direction of President Bola Ahmed Tinubu as part of efforts to study and replicate successful industrialisation models under the Renewed Hope Agenda.
“We are here essentially at the behest of President Tinubu, in the spirit of his Renewed Hope Agenda, to see and peer review global best practices,” Shettima said.
He disclosed that the Federal Government was establishing eight agro industrial zones in eight states, adding that Nigeria would draw important lessons from Benin’s experience in developing integrated value chains for cotton, cashew and soya beans.
“Be rest assured that we have learnt a lot of lessons through this visit, and we are going to replicate a lot of that in Nigeria,” he said.
The Vice President also reaffirmed the Federal Government’s commitment to ensuring that Nigeria’s renewed industrialisation drive benefits all regions of the country through collaboration with state governments.
During the visit, the Nigerian delegation was briefed on the structure, production capacity and investment opportunities at the GDIZ by Benin’s Minister of Tourism and Foreign Trade.
The delegation inspected integrated textile and agro processing facilities where locally produced cotton is transformed into yarn, fabric and finished garments. They also toured facilities processing cashew and other agricultural commodities for domestic consumption and export.
The visit was part of Nigeria’s efforts to draw practical lessons from Benin’s experience in linking agriculture with manufacturing, attracting private investment and transforming raw materials into finished products.
Shettima was accompanied by the governors of Kwara, Imo, Katsina, Plateau, Zamfara and Jigawa states.
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