The Country Director of UNIDO in Nigeria, Dr Patrick Kormawa, says adequate development of the private sector is key to the sustenance of industrialisation in the country.
Kormawa made this known in Abuja on Thursday, in an interview with newsmen.
The director also noted that most industrialised nations of the world attained the height through a combination of industrial and trade policies.
“Most of the developed economies or industrialised nations of the world did not achieve that only by trade.
“They did it through the combination of trade policy and industrialisation policy, taking into consideration the comparative advantage of their various countries.’’
He expressed worry over the low investment in the nation's industrial sector, and urged the federal government to put in mechanisms that would drive the sector to fast track national development.
“Investment in the industrial sector has not been matching the demand needed to move the industry. You need investment in the industrial sector.
“Once you have investment in the industrial sector, basically the problems of industrialisation will be solved”, the director said.
He pledged UNIDO's continued support to programmes and policies of the federal government that would drive industrialisation and the achievement of Vision 20:2020.
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