News Investigators/ The Federal Government has pledged to address challenges affecting the industrial sector, which have led to companies relocating abroad.
The Minister of State for Industry, Trade and Investment, Sen. John Enoh, gave this assurance during a courtesy visit to Gov. Babajide Sanwo-Olu of Lagos State on Friday in Ikoyi.
Enoh assured that the government would create an enabling environment for businesses to thrive and remain competitive.
He stated that collaboration with stakeholders was essential to ensuring the survival and sustainability of businesses across the country.
The minister commended the Lagos State Government for fostering a business-friendly environment that encourages industrial growth.
He explained that the visit aimed to gain firsthand insight into the challenges faced by industries and identify effective solutions.
According to him, the tour is part of the ministry’s efforts to support industries and develop strategies to drive economic growth.
“The tour will help the government understand both the challenges and opportunities faced by various industries,” he said.
He added that these insights would help create a more favourable business environment, ultimately driving national economic prosperity.
“Lagos, being a hub for industries like manufacturing, food processing, and beverages, is ideal for this industrial tour.
“The state is home to major companies such as Nigerian Breweries Plc, Nestlé Nigeria, and CHI Limited, among others.
“By engaging with these industries, the government can identify key challenges and develop targeted solutions to support their growth,” he stated.
In response, Sanwo-Olu emphasised the importance of collaboration between state and federal governments in fostering a conducive business environment.
Represented by his deputy, Dr Obafemi Hamzat, the governor stressed that industrial viability is crucial to a nation’s economic survival.
He noted that no country can achieve sustainable development without strengthening its industrial sector.
According to him, industries play a fundamental role in shaping economic stability and growth.
He added that collaboration between governments would create an environment conducive to industrial expansion and national prosperity.
The governor underscored the need for cooperation and strategic planning to drive economic progress.
He warned that the relocation of industries due to government inaction is a trend that must be halted.
Sanwo-Olu cited Unilever’s departure from Nigeria as an example of the consequences of inadequate government intervention.
To tackle business challenges, he highlighted his administration’s “BOS Meet Business” initiative, aimed at addressing industrial concerns.
He acknowledged that some challenges required joint efforts with Federal Government agencies to resolve them.
The governor also expressed appreciation to President Bola Tinubu for establishing a ministry dedicated to engaging with industries and solving their challenges.
NAN