AMBODE CALLS FOR PROMOTION OF REGIONAL VALUE CHAIN

Lagos State Governor, Mr. Akinwunmi Ambode has underscored the need for the promotion of a regional value chain, saying that Africa is naturally endowed and possesses what it takes to develop its industrial base to add value for employment creation and poverty eradication.

The Governor expressed the need for each nation to identify its area of comparative advantage within the value chain and develop a sustainable framework for effective private sector participation to support government’s desire to promote regional value chains.

Ambode spoke at the Year 2018 Africa Industrialisation day held at the LASCOFED Complex, Ikeja through the Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye.

The Governor identified the Ease of Doing Business as another very important issue that must be addressed as a matter of priority before true industrialisation can evolve.

He said this year’s theme; “Promoting Regional Value Chains in Africa: A pathway for stimulating Africa’s Structural Transformation, Industrialisation and Pharmaceutical Production” draws attention to the need to build a healthy nation that focuses on production rather than importation of pharmaceutical drugs.

Ambode added that Government identifies the necessity for private sector participation in industrialisation through the implementation of policies, programmes and best practices that encourage the productive sectors of the economy, including the pharmaceutical industry.

He affirmed that his administration is not oblivious of the challenges being faced by entrepreneurs in the State assuring that “the State government shall continue to engage members of the Organised Private Sector to develop appropriate and sustainable solutions to the challenges.”

He informed that the various projects in the areas of security, environment, infrastructural renewal and upgrade are designed to create the enabling environment that would promote industrialisation and sustain the status of Lagos State as a prime destination for investment in Africa.

The Africa Industrialisation Day was proclaimed by the Assembly of Heads of State and Government of the Organisation of African Unity (OAU) in November 1989 for the development of the industrial sector particularly the Micro, Small and Medium Enterprises.