NMDC Solicits More Funding For Manufacturing Sector

13 April 2021 By Georgina Humphrey

The Director General National Metallurgical Development Center, NMDC, Professor Linus Asuquo, has called for strong political will and adequate funding of the manufacturing sector to revamp the nation’s economy for sustainable development.

Speaking during an interview with Radio Nigeria in Abuja, Prof Asuquo who pointed out that Nigeria is naturally endowed with Silica sand, Glass and Clay sand stressed the need for adequate exploration of these minerals to create enormous job opportunities for youths.

He explained that the different minerals have various uses which when properly harnessed would industrialize the country.

The Director General of the National Metallurgical Development Center, emphasised the need for synergy between the State and the Federal Government for efficient exploitation of the nation’s mineral resources.

Prof Asuquo, also advocated an enabling environment such as stable power supply accessible roads amongst others to woe investors into the Manufacturing sector.

He explained that constant, efficient and effective supply of electricity is the foundation upon which development is sustained in every economy.

The NMDC Director General further stated that a nation that is deprived of constant power supply will constantly struggle for growth and development.

” Constant power supply is the hallmark of a developed economy and any nation whose energy need is epileptic prolongs her development and risks losing potential investors.” Professor Asuquo added.

He explained that by revamping the economy there must be alternative power supply to encourage investors knowing fully that the crude oil sector is going down and other sectors must be looked into to sustain the economy.

Speaking on the dwindling economy of the nation Professor Asuquo explained that resuscitating the Ajaokuta steel plant and Aluminium Smelting Company of Nigeria, AISCON, would assist in revamping the country’s economy and create employment opportunities.

Professor Asuquo stressed that no nation can go far economically without manufacturing adding that for the nation to move forward she must go back to the drawing board which is manufacturing.

On the bill to establish the Nigerian steel University, Professor Asuquo is of the opinion that the Ajaokuta steel plant should be functioning before establishing the University so as not to produce man power without employment opportunities.

According to Professor Asuquo once these steel plants are functioning, the economy would be diversified automatically because a lot would come out of the plants like steel and rod production and boost the economy of the country.

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