NIEEE: Executive Order 5 Implementation Will Boost Local Capacity
The Nigeria Institute of Electrical Electronic Engineers (NIEEE) has stressed the need for the implementation of Executive Order 5 in order to enhance growth of local capacities among manufacturers and solution developers.
NIEEE, therefore called on the federal government to expedite action in the implementation of the law which it stated would empower the local manufacturing.
According to engineers, the previous efforts of government geared towards achieving economic development had relied on the use of foreign aid, investment in machines, fostering education at the primary and secondary level, controlling population growth and giving loans and depth relief on reforms to stimulate the economy with a view to achieving self-sufficiency.
They, however, said the previous efforts did not yield the desired results, hence the need for full scale implementation of the Executive Order 5 to boost local production.
NIEEE made the call during its Fellowship Conferment Ceremony of 29 Engineers, which held recently in Abuja.
The Chief Executive Officer, Kenol Nigeria Limited, Olu Ogunduyile, in his public lecture at the event, stressed the importance of empowering local manufacturers through the implementation of the Executive Order 5.
He said the active participation of more professionals in the development process would harmonise all efforts to achieve the desired results.
Ogunduyile, also stressed the need for mentorship by fellows of professional bodies, saying exco members of professional associations should foster relationship with all fellows and senior members to ensure engineering professionals are enlisted for the National Youth Service Corps (NYSC), not as teachers but to industries for industrial experience.
He added that collaboration with the academia and industries in Research and Development (R&D) would promote industrial growth.
He also urged government to encourage the Nigeria Industrial Development Bank (NIDB), to fund the industrial growth at a single digit interest rate with a long period of repayment of six years.
According to Ogunduyile, “To reduce pressure on naira, government should support agriculture, textile industries and many others to reduce capital flight that put pressure on the economy.”
He also said since Nigeria had shortfall of 20 million housing deficit as at 2018, the government needs N21 trillion to fund it.
According to him, “Remember there are millions of engineers, technologist, technicians, artisans and other trades that will benefit from this exercise.
“In other words, you will be sending out the hoodlums, kidnappers away from our streets. An idle hand is the devil’s workshop.
“We need a lot of synergies, thoughtfulness, and collaboration to look inward to solve these challenges.
“We also want the National Agency for Science and Engineering Infrastructure (NASENI) to rise up to the immediate challenges to foster relationship with the industries and the academia to ensure massive production of ventilators, spraying machines and other equipment that will take away pressure on our currency.”