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Boost industrial manufacturing to accelerate economic growth and development in Nigeria

 African Development Bank Group President Dr. Akinwumi A. Adesina has said low levels of industrial manufacturing are hampering economic growth and development in Nigeria and many other African countries. He said Nigeria must accelerate its manufacturing sector through integration and a rapid progression up global and regional value chains where it has a comparative advantage. Adesina was speaking at a lecture titled Overcoming Binding Constraints to Competitive Manufacturing for Intra-Regional Trade, which he delivered at the inaugural edition of the Adeola Odutola Lecture Series on Tuesday in Abuja. The series is organized by the Manufacturers Association of Nigeria. The African Development Bank head said: “The continent has abundant natural resources, oil, gas, minerals, metals, agricultural and forest products, and the blue economy. But tragically and ironically, Africa’s massive natural resources have not translated into wealth.” He added: “The low level of industrial man...