Osibanjo Expresses Hope in Nigeria’s Economic Future
Osibanjo expresses hope in Nigeria’s economic future despite the current challenges facing the Nation, he believes all the challenges will be resolved.
Vice President Yemi Osinbajo has expressed optimism about Nigeria’s extremely bright economic future, which he said is inevitable despite the present challenges the country faces.
The Vice President revealed this in a press release on Wednesday, the 12th of May, by his spokesman, Laolu Akande, who spoke while inspecting the SecureID facility in Lagos. He said amidst the challenges, the country’s economic future is bright and issues will be resolved.
He stated that the Buhari Administration in following the recommendation of the Presidential Economic Advisory Council was determined that manufacturing our own products will be the main focus in bringing about dynamic growth, jobs, and exports.
”This will mean retooling our business environment for greater competitiveness, especially with the take-off of the African Continental Free Trade Area agreement. We are rethinking our tax regimes, sorting out external and internal trade issues, getting our regulatory authorities; SON, NAFDAC, and even Customs, to see their roles more as business facilitators rather than policemen or revenue generators. Our environment must be friendly for local businesses first, foreign investments will follow enthusiastically.
”Aside from the work, we are doing with other infrastructure such as rail, roads, and power we are committed to a plan of democratizing broadband connectivity. Our program, which we have reiterated in our Economic Sustainability Plan, is broadband connectivity for all by 2023. The Federal Ministry of Communications and Digital Economy launched the National Broadband Plan which is designed to deliver data download speeds across Nigeria of a minimum of 25mbps in urban areas and 10mbps in rural areas, with effective coverage available to at least 90 percent of the population at affordable prices by the target date. Broadband connectivity is as important as electricity in the digital age, unlike electricity we do not have to make several mistakes before getting it right.”
Furthermore, while commending the efforts of the founder and Managing Director of SecureID, Mrs. Kofo Akinkugbe, Osinbajo described the SecureID facility as a historical place with innovation and creativity.
He said, “This world-class manufacturing facility is reputed to be the first certified smartcard manufacturing plant in sub-Saharan Africa, the only smart card production and personalization plant in West Africa and one of only six on the continent and one of only 80 in the world. The facility serves 21 countries across Africa and is fully certified by major commercial card companies – VISA, Verve, and MasterCard. SecureID has shown that this country can be at the cutting edge of development in technology and digital enterprises. The world in which companies like SecureID operate, providing comprehensive end-to-end payment, identity management, and digital security solutions is one that thrives on innovation.”
The Funder of SecureID, Mrs. Kofo Akinkugbe, said that SecureID was a good entrepreneurial story of an abiding faith in God and the nation, proving the possibility of investing and remaining in the course.
Akinkugbe also commended the federal government for establishing institutions and agencies that lend support to start-ups, MSMEs, and other enterprises that had assisted the company.
The representative of the Bank of Industry, it’s Executive Director, Mr. Simon Araronu, also expressed his excitement to partner with SecureID, being a pioneer of global status in the industry, as well as making high-class products while generating foreign exchange earnings and creating jobs.