Nigeria should take industrialization serioiusly-gbadamasi

A Nigerian industrialist and business tycoon, Chief Rasheed Gbadamasi

Nigeria should take industrialization serioiusly-gbadamasi
Ben Adam Shemang, Abuja

A Nigerian industrialist and business tycoon, Chief Rasheed Gbadamasi is calling on the Nigerian government to ensure the country’s industrialization drive is kept alive.

He said that government at all levels, must ensure there is a conducive investment atmosphere for best global practices so as to attract investors.

speaking in a Voice of Nigeria Programme:  In-The-News, Chief Gbadamasi said roads, rail network, electricity, strong institutions, security among others were urgently needed, if the nation’s economy must be revamped.

Again, the industrialist lamented that some aspects of the privatization programme of public owned companies were not moving on as they ought to be.

No commitment

Going down memory lane, the businessman said that in the early 60’s, Malaysia imported palm kernel  seedling  from Nigeria but today, Nigeria imports palm oil from Malaysia which has now become the number one palm oil  exporter globally.

He traced the reason to lack of commitment and seriousness on the part of many planners of the Nigeria economy.

On why there are no new refineries in Nigeria despite the issuance of licences, he said:  “you don’t have funds to build refinery.

It’s not late 

To refine a billion barrel of oil will cost about $1billion.  Where is this kind of money nowadays?”
On the cost of governance, he said it is unfortunately too high but warned that “one day oil will dry up". What will Nigeria do?

Chief Gbadamasi wants government to take a critical look at the privatisation programme to ensure it works, saying “if India is the 7th largest industrialized nation the world over. Nigeria can make it. It’s not late”.

Iheanacho