Nigerian Manufacturers Must Embrace Industrial Revolution, Says Osinbajo
Vice-President Yemi Osinbajo has called on the Nigerian manufacturing sector to embrace the emerging Fourth Industrial Revolution and the current trends in technological innovations.
Osinbajo made this call yesterday in Lagos at the opening ceremony of the fifth Nigeria Manufacturing and Equipment Exhibition (NME Expo) with the theme: ‘The Fourth Industrial Revolution and the Nigerian Manufacturing sector’, organised by the Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC).
Osinbajo, who was represented by the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, said Nigeria is at a crucial point in its economic history at the emergence of the Fourth Industrial Revolution.
He stated that the industrial revolution would fundamentally alter the way Nigerians live, work and relate to one another.
“Also we are at the threshold of the African Continental Free Trade Area (AfCFTA) agreement that will reposition the Nigerian market and the way trade is carried out in Africa.
“We are living in an exciting time. The manufacturing sector must prepare itself for the fourth industrial revolution that is coming in the age of AfCFTA. I am extremely thrilled to see that the theme of this expo speaks on the changes that we must expect.
“Already, artificial intelligence is all around us from self-driven cars and drones to software that can automatically translate languages. “Nigerians are the second largest users of internet and mobile telephones with about 117 million at the last count. I look forward to getting feedback on your deliberation on how we will prepare for the changes that lie ahead and make the most of our existing advantages,” Osinbajo said.
He said nothing has the potential to drive Nigeria’s development as the manufacturing sector, and is therefore at the centre of President Muhammadu Buhari’s strategic plan to attain sustainable growth and fulfill our aspiration to lift 100 million Nigerians out of poverty in the next 10 years.