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VP Shettima: FG to Support Local Manufacturers with N75 Billion

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Vice President Kashim Shettima stated that the federal government is committing N75 billion to local manufacturers by March 2024 to enhance the manufacturing sector. The declaration took place at the second National Conference on non-oil export hosted by the Nigerian Export Promotion Council (NEPC) in Abuja.

Jumoke Oduwole, Special Adviser on Presidential Enabling Business Environment Council (PEBEC) and Investment, represented the Vice President. Shettima specified that the N75 billion fund would support 100,000 start-ups and Micro, Small, and Medium Enterprises (MSMEs) at competitive interest rates.

The conference revolves around the theme “Building a Sustainable National Economy Through Non-Oil Export.” The Vice President emphasized the government’s dedication to fortifying the infrastructure for bolstered non-oil exports. He highlighted the country’s historical 80% reliance on oil revenue, underscoring the urgency to diversify.

According to a report by People’s Gazette, Legal expert Abdul Mahmood highlighted the provisions of the Nigerian Constitution regarding the consequences of presenting forged certificates to the Independent National Electoral Commission.

Many social media users expressed their thoughts on the matter. User @firstladyship emphasized the clarity of the 1999 Constitution on such situations, while @TheFavouredWoman reminded everyone of the legal implications of forgery in Nigeria.

Minister of Industry, Trade and Investment Doris Uzoka-Anite expressed her concerns over Nigeria’s long-standing mono-economy. However, she acknowledged the positive impact of the government’s diversification endeavors, noting a 40% surge in non-oil exports in 2022.

Ezra Yakusak, the CEO of NEPC, affirmed that the non-oil sector’s contribution to the economy has risen significantly. The 2022 records show a growth of 39.91% in non-oil exports, featuring a diverse range of products. However, he expressed concerns over a disease outbreak affecting ginger farms in Kaduna State and appealed for prompt government intervention.

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