Govt to boost domestic trade
The Federal Government has re-affirmed its commitment towards facilitating the growth and development of domestic trade across the country.
The Minister of Industry Trade and Investment, Olusegun Aganga, who stated this at a Townhall Meeting with traders and representatives of market associations from the Southwest geo-political zone, in Lagos, yesterday, said the parley was necessitated by the Federal Government’s recognition of the importance of domestic trade in achieving its inclusive and sustainable economic growth and development in line with President Jonathan’s Transformation Agenda.
Aganga said: “This is the first ever townhall meeting, and also the first in the series that the Ministry of Industry, Trade and Investment will be organising as part of our deliberate strategy to develop and grow domestic trade across the country.
“As part of our domestic trade strategy, the Federal Government wants to bring policy formulation and implementation down to the grassroots and ensure that traders are carried along.”
He said statistics have shown that domestic trade has a strategic role to play in achieving inclusive and sustainable growth and development in the country.
He explained that with the re-basing of the country’s Gross Domestic Product, agriculture now contributes about 22 per cent to the GDP; industrial sector contributes about 26 per cent, while the services sector, accounts for about 52 per cent, adding that when you look at the services sector’s contribution, retail and wholesale trade, account for about one third of that 52 per cent.
Aganga said the government will partner traders and other regional organisations to provide the conducive environment for the development of domestic trade.
“Nigerians are very enterprising and hardworking people. All they need is the enabling environment. Our job as a government is to provide them with the conducive environment to do their businesses so that they can create jobs and drive inclusive and sustainable economic growth and development,” he said.
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