Nigeria’s GDP could easily grow to $1trn by 2023 If we revive these 10 moribund industries

Nigeria’s GDP could easily grow to trn by 2023 If we revive these 10 moribund industries

Must Read

Lagos Embarks On “Operation Show your Planning Permit” (Photos)

In a bid to curb the menace of illegal building construction and building collapse, the Lagos State Government, through...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
- Advertisement -
- Advertisement -

Nigeria’s GDP could easily grow to $1trn by 2023 If we revive these 10 moribund industries

(1) Ajaokuta Steel Mill

No nation can industrialise without steel. Without it, you simply cannot go about manufacturing, so until we get that plant up and running, we are going nowhere. Come on now, we have been at this thing since 1979

(2) Jebba Paper Mill

When established, the Jebba Paper Mill was planned to be the largest such facility in West Africa. By now, it should have a virtual monopoly on the supply of newsprint across West Africa. It was recently taken over by an Indian businessman and began to function again. When set up in 1969, it was to have an annual output of 55,000 tonnes. I hope the new owners can get it back to full capacity

(3) Oluwa Glass Company, Igbokoda

Founded by the former Ondo State governor Michael Ajasin, this factory was the only one of its kind on the African continent. It was designed to supply automobile windscreens, drinking glasses, and the construction industry with windows. Today, it is lying totally derelict

(4) Okposi Salt Industry

During the Nigerian Civil War, this plant provided Biafra with all its salt. Using very basic technology, women processed water from Okposi Salt Lake and turned it into table salt. Do you know that the facility is still standing there today?

(5) Arewa Textiles Kaduna

Arguably the jewel in the manufacturing crown of northern Nigeria, this was one of Ahmadu Bello’s pet projects. It started off in 1955, when northern Nigerian government officials, working together with the British textile firm, David Whitehead & Sons, successfully began arrangements to build the first large textile manufacturing mill in Nigeria, Kaduna. Today, nothing is happening there

Read:  Etisalat recorded the highest incoming porting activities in Q1 2017 - NCC

(6) Ile-Oluji Cocoa Grinding Plant

Another initiative of Governor Michael Ajasin, this plant was started as part of the integrated chocolate production chain. Nigeria is the world’s sixth-largest cocoa producer with an annual output of about 250,000 tonnes. Today, the global chocolate industry is worth about $105bn but I can tell you that Nigeria is not even getting $1bn from this. Economists say that a sum of $275m could easily be made if we add value to our cocoa exports

Read:  Bambooks Launches Nigeria’s Largest Digital Library

(7) Mokwa Cattle Ranch

This was another initiative introduced during the First Republic. Brought to Nigeria by the Germans, the Mokwa Cattle Ranch was actually designed to end the primitive practice of nomadism in Nigeria. The livestock at the plant was to be fed on special molasses diets. As of at 1973 when the Germans handed over the ranch to Nigeria, it still had 3,000 healthy cattle in it. Today, there is not one cow on the ranch

(8) Nigerian-Romanian Wood Industry, Ondo

This is another major tragedy as this plant actually got up and running. It was a major supplier of furniture to the home furnishing industry and by now, would have been exporting finished products to the industrialised world had we kept it going. How we ruined it is beyond me

Read:  AB InBev Launches New Beer Brands

(9) Bacita Sugar Company, Ilorin

Nigeria’s annual sugar consumption is about 2m tonnes but we only produce about 25,000 tonnes of this. I do not know of any sector where production lags so far behind consumption. Aliko Dangote’s Savannah Sugar Company in Adamawa State is trying to bridge the gap but alas, the gulf is massive

(10) Okitipupa Palm Oil Mill

Appearing to be making a comeback after an investor said it planned to pump $13m in the project, the Okitipupa Palm Oil Company began life in 1969 with the creation of plantations. In 1974, an oil processing mill was installed and in 1976, the firm was incorporated as a limited liability company. However, true to style, we let it fall into ruin, allowing Malaysia and Indonesia to overtake us as palm oil producers. Today, Nigeria consumes more palm oil than she produces

Just ask yourselves how many jobs reviving all these plants would create. Do we have a master plan to get them up and running?

Most of them are owned by state governments, so the initiative is down to the governors. If you ask me, the man to come up with the master plan is Kayode Fayemi, the chairman of the Nigerian Governors Forum.

Written By Ayo Akinfe

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

Latest News

Yeedi Launches Easy to Use and Powerful Robot Vacuum Cleaner in the US Market

Yeedi celebrates introduction of its K600 in the US on with an early bird discount price from February...

Emergence of Max.NG in Ibadan – Origins, Implications, Projections

After establishing its presence across four locations in Nigeria and barely a month after the Lagos Okada ban,, the pioneering bike hailing company...

AB InBev lost $170m profit in two months due to Coronavirus

AB InBev, the world’s largest brewer, said it lost $170 million in profits during the first two months of 2020 because of the coronavirus...

Tantalizers in 2019: Profit After Tax Drops 74.3% to N22.2M

Tantalizers Plc has released its financial statements for the year ended December 31, 2019. The firm, which is One of leading Quick Service Restaurant...

Ipsos in 2019: Revenue Exceeds €2bn But Warns on Coronavirus Effect For 2020

Paris, February 26, 2020 – Ipsos generated over €2 billion in revenue in 2019, 14.5% increase in FY 2018. 2019 is the first year...
%d bloggers like this: