Economic Diversification - News Agency Of Nigeria

TYGF President advocates international partnerships for economic diversification

Tosin Kolade
Jun, Mon, 2025

Foreign

TYGF President advocates international partnerships for economic diversification

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By Patricia Amogu

The National President, Tinubu Young Generation Forum (TYGF), Mr Kevin Timothy, said Nigeria’s international relations and partnerships would deepen its economic diversification drive.

Timothy stated this during an official meeting with Egyptian investors and billionaire business mogul, Mr Yasser Mohammed, the CEO/Managing Director of SAMCO Cooperation Company and Porto Marine Ltd in Abuja.

The News Agency of Nigeria (NAN) reports that Francisco Edu Ngua Mangue, Ambassador of Equatorial Guinea to Nigeria, was also in attendance.

According to him, the meeting focused on strengthening bilateral partnerships that will further boost investment opportunities and enhance economic cooperation among the three nations.

He said fostering such partnerships will drive growth and development; promote human capital development and build collaborations on initiatives to build skills and capacity.

“Key areas of focus include oil and gas,we will be exploring opportunities for joint investments and cooperation in the oil and gas system.

‘In the aspect of agriculture, we will be developing partnerships to enhance food security and economic growth.

“By strengthening cooperation, African nations can play a significant role in driving the global economy and positioning the continent among the top economies worldwide.” he said. (NAN)

Edited by Emmanuel Yashim

FG reaffirms commitment to leather industry growth

Philip Daniel Yatai
Mar, Thu, 2025

Economy/Business

FG reaffirms commitment to leather industry growth

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By Lucy Ogalue

The Federal Government has reaffirmed its commitment to revitalising Nigeria’s leather industry to boost job creation, economic diversification, and industrial development.

The Minister of State for Industry, Sen. John Enoh, stated this on Thursday, during a meeting with the Steering Committee on Strategic Implementation Plan of the Leather and Leather Products Policy in Abuja.

He stressed the importance of fully implementing the Leather Policy, highlighting its vast potential for economic transformation.

Enoh urged the committee to document challenges hindering implementation and identify areas where government intervention could accelerate progress.

The minister called for an alternative to ‘ponmo’ (processed cowhide), advocating its use in leather production rather than as food.

He argued that diverting hides and skins into industrial use could significantly contribute to economic growth.

“The leather industry is crucial to our national economy. We must develop it sustainably while ensuring Nigerians have viable consumption alternatives,” Enoh said.

He assured the committee of the Ministry’s full support, calling for stronger collaboration to enhance Nigeria’s position in the global leather market.

Dr Auwal Imam, Chairman of the National Steering Committee, commended the Minister’s proactive approach and highlighted achievements in implementing the Leather Policy.

Imam is also the Director-General, Nigeria Institute of Leather, Science and Technology.

“These include skill acquisition programmes, research advancements, and the establishment of 22 extension centres to support industry players,” he said.

Imam called for greater government involvement in fully implementing the Leather Policy and integrating the sector into national MSME survival programmes.

He urged the provision of single-digit interest loans for leather entrepreneurs, stronger campaigns for Made-in-Nigeria leather products, and a $1 billion Leather Industry Venture Fund to boost investment.

“With proper government backing, Nigeria’s leather sector can compete globally, create jobs, and contribute significantly to the economy,” he added. (NAN)

Edited by Kamal Tayo Oropo