By Zainab Bakare
The Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, has called for stronger government-private sector partnerships to transform Nigeria from a trading nation into a value-chain economy that creates jobs and boosts local production.
Enikanolaiye made the call during a high-level panel at the 32nd Nigerian Economic Summit (NES #32), themed “From Trade to Value Chains: Building Regional Industries to Compete Globally,” with the sub-theme “Invest Nigeria.”
According to a statement by the Special Assistant on Digital Media and Public Diplomacy, Raphael Oni, the minister said government alone could not mobilise the resources needed to drive economic growth and shared prosperity.
He called for stronger engagement with private businesses and increased investment from both domestic and foreign sources.
Nigeria’s 4D Foreign Policy Doctrine
Enikanolaiye explained that the Federal Government had reordered its 4D foreign policy doctrine to place national interest, defined by the welfare and prosperity of Nigerians, at the centre of its international relations.
The framework focuses on Demography, Development, Democracy and Diaspora.
He said democracy must deliver economic development and prosperity for Nigerians, stressing that governance should improve people’s welfare.
Youth, SMEs and Technology
The minister described Nigeria’s youthful population as a major asset that could drive economic growth if supported with investments in human capital, technology, innovation and creativity.
He said small and medium-sized enterprises (SMEs) should receive greater attention to help create jobs, increase incomes and expand opportunities for young people.
Enikanolaiye also said improved macroeconomic stability and declining inflation would help businesses make informed decisions and plan for the future.
He added that the Ministry of Foreign Affairs must engage more closely with Nigerians and work with the private sector to advance the country’s economic interests.
ECOWAS Calls for Regional Industrialisation
The President of the ECOWAS Commission, General Birame Diop, also called for greater investment in regional industries, stressing that trade agreements alone could not create jobs without local production.
His remarks were delivered by the Commissioner for Economic Affairs and Agriculture, Hon. Dehpue Yenpea Zuo.
Diop said intra-African trade remained at about 15 per cent, compared with more than 60 per cent in Europe and Asia, attributing the gap partly to the limited scale of regional industries.
He described the ECOWAS market, with more than 300 million consumers, as an opportunity for Nigerian manufacturers to expand production before competing across Africa under the African Continental Free Trade Area (AfCFTA).
The ECOWAS Commission President urged West African countries to implement existing trade agreements, develop regional value chains, improve access to financing for producers and measure progress by jobs created and goods processed within the region.
He said stronger regional industries would help West African countries compete more effectively in global markets.
