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Former NIMASA Boss Dakuku Peterside Shares Blueprint For Reviving Nigeria’s Real Sector
Former NIMASA Boss Dakuku Peterside Shares Blueprint For Reviving Nigeria’s Real Sector....KINDLY READ THE FULL STORY HERE▶

In major urban centers across Nigeria, a considerable number of manufacturing companies have departed due to significant disincentives in the business environment. Even more concerning, the prospect of additional departures looms large.
Nevertheless, Dakuku Peterside, former head of the Nigerian Maritime Administration and Safety Agency (NIMASA), has put forth a series of measures the Federal Government could adopt to rejuvenate the country’s real economy.
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In his statement, Peterside emphasized:
“To combat de-industrialization and promote industrial growth, Nigeria must undertake comprehensive economic reforms aimed at catalyzing investments in critical infrastructure, fostering stable and supportive governmental policies, implementing a degree of creative protectionism to safeguard local industries, facilitating access to affordable capital, and pursuing diversification of the economy away from heavy reliance on oil. Encouraging the expansion of the manufacturing sector is paramount for job creation, reducing dependence on imports, and attaining sustainable economic development in the nation. The path to industrialization is not insurmountable. Other countries facing more adverse conditions than Nigeria’s have successfully traversed this path, and we can emulate their success. It is a fundamental human endeavor to study the experiences of others, learn from them, and adapt their lessons to suit our unique circumstances.
Nigeria has no alternative but to embrace industrialization. Production serves as the cornerstone of progress. Local production and consumption of our goods, as well as the exportation of goods and services to the global market, can help address the issues stemming from poverty and unemployment.
De-industrialization represents an existential challenge, and we must take every possible measure to counteract this trend and usher in a period of extensive industrial growth. It is imperative that we critically assess the most effective strategies for industrialization, with the collective effort of all stakeholders required to achieve this goal.”
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