The Ministry of Industry, Trade and Investment has declared that it is working with the World Bank to develop a Sector Strategic Plan for 2020-2030 to improve the economy.
The Permanent Secretary disclosed this-sir Sani-Gwarzo at the twelfth gathering of the National Council on Industry, Trade and Investment on Monday in Abuja themed: “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 pandemic era.”
The Perm Sec added that the partnership with World Bank would fill in as a guide for the sustainable rejuvenation of the sector, referring to endeavours at digitalising the activities of the trade ministry and additional offices.
He said that the deployment of “Digital Industry, Trade and Investment Platform (DITIP) was an enterprise E-solution that could drive a fully automated process, citing the review of the Nigerian Industrial Revolution Plan (NIRP), while the Trade Policy investment policy formulation was in progress.
All these efforts, when finalized and entirely in operation, would facilitate re-invigoration of the sector for growth and development,” the permanent secretary said.
He also noted that the Investment Promotion and Protection Agreement (IPPA) with Singapore and Morocco had been signed. At the same time, efforts were being made with the Ministry of Justice for its ratification.
The ministry is also working to develop a coordinated approach to investment promotion within 25 states and FCT.
“All the agencies were making efforts under the ministry to develop Post COVID-19 plans that will assist them in navigating the challenges posed by the pandemic,’’ he added.