- Abubakar Aliyu, a former Director of the Federal Ministry of Industry, Trade, and Investment, wants Nigerians to see the good side of the subsidy removal
- He believes that the removal of subsidy would lead to the allocation of resources for the advancement of the country
- NNPC Limited has already begun the implementation of subsidy removal by adjusting the pump price of petrol across its stations
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Abubakar Aliyu, a former Director of the Federal Ministry of Industry, Trade, and Investment, has backed the recent move by President Bola Ahmed Tinubu and the Nigerian National Petrol Company Limited to remove the fuel subsidy.
Aliyu stated this while speaking at the Equipments and Manufacturing Expo, a 3-day exposition with the theme, Reigniting Manufacturing to Drive Economic Growth and Development.
The former DG also expressed hope that the removal of subsidy would lead to the proper allocation of resources previously spent on subsidising fuel.
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DG on manufacturers' export
At the expo, Aliyu stressed the importance of small and medium-sized enterprises (SMEs) in developing Nigeria's manufacturing industries.
He also acknowledged the challenges faced by the manufacturing sector, including energy and infrastructure constraints, and assured that the government is actively working to create a conducive environment for businesses to thrive.
Also speaking, Joseph Oru, the founder of EMWA and CEO of Zenith Exhibitions, said the expo serves as a platform for manufacturers, suppliers, industry experts, and stakeholders to showcase their latest advancements, exchange knowledge, and foster collaborations.
"Beyond the impressive displays, the event will also foster an environment of knowledge sharing and professional growth through conferences, workshops and interactive sessions led by industry experts.
"We aim to empower you with insights, strategies and tools to navigate the ever-changing landscape of manufacturing.
"The event provides SMEs and participants with valuable insights and insider knowledge to advance their careers and grow their businesses."
He added that the EMWA Expo, now in its third edition, has solidified its position as Nigeria's premier international manufacturing and industrial event.
Subsidy removal: Innoson Motors rolls out gas-powered trucks, buses, and cars
In another report, Legit.ng revealed that Nigeria’s local automobile manufacturing firm, Innoson Motors, has announced its latest innovation, the Innoson LNG/CNG Gas Trucks, buses, and cars, at its factory in Nnewi, Anambra State.
The liquified natural gas (LNG) and compressed natural gas (CNG) enabled vehicles were launched on Tuesday, April 20, 2023, by the Manufacturers Association of Nigeria (MAN) president Otunba Francis Meshioye.
Innoson Motors’ head of corporate communications, Cornel Osigwe, said the unique feature of the Innoson gas-powered brands is their ability to use CNG which is more affordable than diesel or petrol.