News Investigators/ The Abuja Chamber of Commerce and Industry (ACCI) has urged government agencies and stakeholders to take immediate action to revitalise the Idu Yard Industrial Hub in the Federal Capital Territory (FCT).
The President of ACCI, Emeka Obegolu, made the call at the ACCI’s end-of-year media parley on Tuesday in Abuja.
According to Mr Obegolu , a Senior Advocate of Nigeria (SAN), the Idu Industrial Hub, if properly harnessed, has the potential to catalyse economic growth and create adequate jobs for Nigerians.
He acknowledged the challenges facing the industrial hub, including poor infrastructure, unreliable power supply, and inadequate security, which he said had hindered its full potential.
“The Idu Yard Industrial Hub remains an underutilised asset due to systemic neglect.
“Addressing its challenges can unlock significant economic opportunities and improve Nigeria’s industrial sector,” he said.
The ACCI President welcomed the recent passage of the Federal Capital Territory Administration (FCTA) 2024 Supplementary Appropriation Bill by the Senate.
He described it as an opportunity to address the longstanding issues plaguing the hub.
He called on the Federal Ministry of Industry, Trade and Investment, the FCTA, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to prioritise industrial development in their budget implementation.
To revitalise the hub, Mr Obegolu called for road rehabilitation, deployment of alternative energy solutions for stable power supply, enhanced security measures, streamlined tax processes, and youth engagement through skills development programmes.
“These steps are crucial to restoring investor confidence and transforming the Idu Yard into a vibrant economic activity center,” he said.
Mr Obegolu, who also leads the Organised Private Sector (OPS) in the FCT and surrounding areas, emphasised the critical role of the media in advocating for change and holding stakeholders accountable.
He urged journalists to continue spotlighting industrial sector challenges to catalyse action from policymakers.
He expressed gratitude to the media for their balanced coverage of the chamber’s activities and their role in advancing economic dialogue.
He described the media’s contributions as instrumental to driving reforms and amplifying the voices of Nigeria’s business community.
Looking ahead to 2025, Mr Obegolu reaffirmed the chamber’s commitment to advocating for policies that enhance the ease of doing business and fostered a thriving industrial ecosystem.
He also called for stronger collaboration between the media, government, and private sector stakeholders to transform neglected industrial zones into economic hubs.
The ACCI President pledged the chamber’s readiness to work with all stakeholders in building a thriving business environment.
NAN