The Minister of Science and Technology Dr Ogbonnaya Onu said over 4.2million good jobs will be created in Nigeria in a period of five years if the Development of Raw Materials Plan is well implemented.
He said a successful implementation of the National Strategy for Raw Materials and Products Development will reduce 10.8 percent import reductions of goods will the country over N3trillion in foreign exchange for short time of five years.
The National Strategy for Raw Materials and Products Development plan was approved by the Federal Executive Council (FEC) in May 2017, and the main objective is to reduce raw materials imports and develop our local industries.
The minister, who spoke at the 1st Competitiveness Consultative Forum for Regulatory Establishments in Abuja yesterday said, a successful implementation of this strategy would yield about 4.2 million jobs, 10.8% import reductions of goods, thereby saving the country over N3Trillion in foreign exchange for the short-term period of five years".
He continued, adoption of science, technology and innovation in industries and businesses would result in high quality made-in-Nigeria products that attract higher demand patronage.
He also disclosed that the EU had invested more than 50million Euros to support quality infrastructure projects in West Africa for the past 15 years.
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