NACCIMA Lists Areas for Economic Diversification

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has listed four areas for the Federal Government to focus on in its diversification agenda.

The chamber advised that the diversification should aim at boosting capacities in the manufacturing, mining, agriculture and services sectors for sustainable development.

Mr Emmanuel Cobham, the Director-General of the chamber, gave the advice in an interview with the News Agency of Nigeria on Wednesday in Lagos.

``Government should continue to encourage the productive capacities of large-scale industries as well as the Small and Medium Enterprises (SMEs) to manufacture goods competitively.

``Agro-businesses should be promoted, local content strategy must be encouraged, while Information, Communication and Technology (ICT) should be developed to be the major driver of the economy,’’ he said.

Cobham said that government should provide finance, risk-bearing facilities, market information and value-added advisory services to businesses.

``They should also evolve economic policies to fast-track development in all the political zones of the country.

``They must improve competitiveness of locally produced goods through maintenance of standards for enhanced job creation and economic growth,’’ he said.

He assured that the outcome would deepen export-oriented investments in the country’s non-oil sector and improved revenue generation for the country.