Nigeria’s porous borders affecting growth of industrialisation – Expert

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From Lateef Dada, Osogbo

A financial expert, Dr Mufutau Raji, has attributed Nigeria’s porous borders and other security challenges to the slow growth of industrialisation in the country.

He stated this in Osogbo on Monday while delivering a lecture on “Industrialisation During Economic Recession; Lessons for New Generation of Entrepreneurs (Asiwaju Tunde Badmus As A case Study).

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The lecture was organised in celebration of the 76th birthday anniversary of Asiwaju Musulumi of Yorubaland, Edo and Delta, Alhaji Tunde Badmus.

According to him, the infrastructure deficit had continued to grow at an alarming rate because of the failure of industrialisation in Nigeria.

He blamed corruption, unfavourable foreign exchange rate, and poor power supply, among others, for the poor industrialisation, saying “the need for industrialisation is well recognised by Nigeria since her independence from Britain in 1960.

“Nigeria has made several attempts all without any appreciable success. Among several such attempts and like many others such well-intended efforts of the government is the Nigeria Industrial revolution plan of 2014.

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“The plan is aimed at increasing the contribution of Nigeria’s manufacturing sector to gross domestic from about four per cent in 2014 to six per cent in 2015, then above 10 per cent in 2017.

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“Yet all those hopes have been dashed by the current economic decision that Nigeria is experiencing,” he added.

Earlier in his sermon, Mufasir of Osogboland, Sheik Abdullateef Abajaoro, said prayer would be better to solve the insecurity challenges facing the country.

Earlier in his remarks, Governor Adegoyega Oyetola, congratulated the celebrator, describing him as a rare gift of nature and one of the foremost illustrious and industrious sons of the state,

Represented by his deputy, Benedict Alabi, Oyetola said the state and Nigeria owe the seasoned agriculturist, business mogul and indeed a detribalised Nigerian word of gratitude for his selfless service to the growth and development of the nation’s agricultural sector.

The Secretary of the planning committee, Waheed Saka, said the lecture was incorporated to bring the youths and enable them to tap from the experience, knowledge and challenges that the celebrant had encountered over the years.