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News -
NIDO News
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Written by Oghogho Obayuwana
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Saturday, 12 July 2008 13:10 |
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THE Federal Government has taken its investment campaign to Nigerians abroad. And to demonstrate its desire to assist its citizens, the government has designed a funding package. Through the package unfolded by the Industries Minister, Chief Charles Ugwuh in Berlin, Germany, any Nigerian citizen who is keen on participating in the country's industrialisation but lacks the means can now draw from an N80 billion investment pool of the Federal Government. The money kept under the National Resources Fund (NRF) is meant for local capacity building, technology transfer, product standardisation to create overseas' market for Nigerian goods, among others. Ugwuh said that the government was keen on exporting manufactured goods to Germany to change the current situation where raw materials (mainly crude oil) are exported to Europe's biggest economy.
He said that the government needed expertise of Nigerians in the Diaspora in meteorology, metallurgy and petro-chemical to grow the economy. The minister said the standardisation of Nigerian goods would remove the perennial handicap of getting country's products into the world market. In discussions with the German Standardisation Institute (GSI) in Berlin and later with a broad spectrum of Nigerian professionals, entrepreneurs and business interests on how to partner with them to open more trade doors with Germany at the Nigerian Ambassador Abdul Bin Rimdap's residence at the weekend, Ugwuh urged them to think about making their quick presence on the Nigerian scene, which is being opened up by the investment policy of the new administration before the Germans (who he maintains are already making inroads), join the Asians in completely taking over the space being created. Nigeria's standardisation drive is motivated by the achievement of another African country - Botswana - which created similar trade collaboration with Germany enabling it within a few years to be exporting a large volume of manufactured goods that goes well beyond its traditional diamond. The minister's charge is coming after a recent call made here by the German President Horst Kohler urging European and especially German investors, to look towards "inviting" countries in Africa for investments, describing the continent as the "Market of the future." On his mission in Berlin, Ugwuh said: "It is to seek some understanding between Nigeria and the German standardisation institute. To collaborate with it and set up opportunities for partnering and indeed mentoring by the agency... They have expressed a great sense of willingness and desire to invest in us. That is to help us build our capacity and to be real partners. As you know, we have very good bilateral relations with Germany. We have a signed agreement in cultural, technological and business co-operation with Germany. So, within that umbrella, we are seeking a wider relationship and we were assured that this would happen. This will help Nigeria uplift its product quality. And begin to enter the export market. That has been a handicap for us. We have had a handicap in putting our products forward for export in the world market... As a government and as a people, what we should be doing is to excite confidence, you got to show to people that you are meeting the minimum standards of what is required to market such products. And the Germans are on top of the ladder in this area. The collaboration will rub off on Nigeria and help us meet the minimum standards that the world expects of our products. This is what we are trying to do." On the efforts being made by the government to attract industrial investment into Nigeria while also stepping up the scale of exports, the minister said the seven-point agenda of the President Umaru Musa Yar'Adua administration in taking Nigeria into the league of the world's top 20 economies by 2020, including using the cluster industrial concept as a major support mechanism. He said: "Our GDP (Gross Domestic Product) is fairly stabilising. We have now a 6.5 per cent growth rate. We should double that to get near where we are going. It's a tall order. In the seven-point agenda, we ought to create wealth, to fight poverty, not poverty alleviation but to eliminate it. Agriculture is contributing 41 per cent of the GDP. The real effort here is to try and create the environment for industries to thrive. So far, there are problems. We have to look at it from the farm gate and are currently using NIPC (Nigerian Investment Promotion Council) targeting areas where we have competitive advantage... Now, we are seeing that the spectrum of interest currently coming from India, Japan and China is more than Europe. We want where our resources can give us mileage. There is a free zone in Lagos, another in Ogun and Koreans are also doing things. I will give more thought to Germany if there are signs of encouragement, which is why we are collaborating on standardisation. Now, we have a one-stop shop in Abuja and many things should be falling in place." Answering questions from the President of Nigerians in Diaspora Organisation (NIDO) in Germany, Dr. Agwi and the President of the Nigerian Professionals and Entrepreneurs in Germany (NIPEG), Mr. Brisbourne Iyamu on recognition and enhancement of their efforts to attract investments to Nigeria, Ugwuh said: "Give us a list of Nigerians who have skill and expertise and are willing to come back. We have a place for them. See the Germans are already coming but you are not. If we go through their tutelage and their mentoring, we have a better chance of our products coming here. We need to uplift the quality of our services. We need expertise in meteorology, metallurgy, and petrochemical. We are looking for these types of Nigerians willing to contribute. We now have the cluster concept already in operation. It will provide the infrastructure so we tell all industrialists: go and set up there. We have to think of the next level. Nigeria now produces 4.2 million tonnes of rice from the previous 2.8 million. To raise this level in the next five years and get into serious rice and cassava processing is a task that you must be involved in ...There is now an N80 billion from the National Resources Fund for you to participate. We are looking for improvements in weights and measures. Citizens complained that all Nigerian agencies have no contacts. I have not seen a German advert on German TV about Nigerian opportunities. We need an information gateway, and to stop the scenario where something is produced in Nigeria for 100 Euros, the same thing is produced in Taiwan for 50 Euros. We have a 38 to 42 per cent cost handicap. That's why we are talking about industrial clusters. Rolling stock, panel vans etc can be made in Nigeria. You have heard about the garment centre in Aba. Measurement, sizes and specifications are being worked on so we can deliver on the world market. We need to grapple with machines and production methods. Fortune favours the brave..."
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