NIGERIA: FG Targets $558.45 Million GDP by 2018

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Federal government has said it is anticipating a huge increase in its national gross domestic product (GDP) from $510 million in 2013 to $558.45 million in 2018 especially from the implementation of the National Quality Infrastructure (NQI).
Chairman of the national steering committee for the Nigeria National Quality Policy, NQP, Mr. Olusegun Aganga, who stated this at the 2nd meeting of the committee, said the figure would be a 10 per cent growth within the first five year of implementation period.
According to Aganga, who is the Minister of Industry, Trade and Investment, “the increase in the services sector from the previous 26 per cent to 51 per cent, shows the tremendous contributions of the services sector to the economy."
He added: “Since the National Quality Policy, NQP is now known to strengthen institutions, private businesses, competence of measurements, laboratories/testing, persons etc, all energies must be channelled to fast-track its early take off to also stimulate our targeted industrial growth and job creation aimed at achieving the Vision 2020."
Represented by the President of the National Association of Small and Medium Enterprises (NASME), Alhaji Ibrahim Gusau, he recalled that the need for a NQP to enhance the country’s reputation as a provider of quality products and services globally led to the signing of agreement on trade facilitation markets at the 9th ministerial conference of World Trade Organisation (WTO) in Bali in December 2013.
Aganga added that “Nigeria must ensure that necessary quality infrastructures is in place to make quality a part of our national lives, to sell what we have to both the domestic and foreign markets as well as sustain investments through an established and functional NQI”.
In his remarks, the Director-General of the Standards Organisation of Nigeria, SON, Dr. Joseph Ikem Odumodu, explained that the government inaugurated the committee for national quality policy to boost economic growth through an articulated industrial revolution plan known as the NQP.
“In the next three weeks will be going on a road show in all the six geo-political zones of the country, because we want our programme to be acceptable not only to the formal sector, but the generality of the people.
“We want the people to take advantage of the programme to contribute their views to the policy. I can observe that we have more government people here than the private sector whereas policy is not made for the government, but for the people.
“We need to go on the road show to talk to the people on the policy and get their feedback before we come back to write our report for submission through the minister to the Federal Executive Council, FEC. We expect that the report will be approved by FEC before the last quarter of this year," Odumodu said.
The DG said the committee’s works continue after the submission of the report, explaining that “it is an enduring document that will last even till the next five years,” adding that there were some policy documents that are as old as Africa.
Odumodu noted that lack of National Quality Policy made the influx of substandard products prevalence in the country, regretting that some people don’t value quality.
“Though like I always said, there are substandard products all over the world, the difference is that we seem to embrace these products. People know they are substandard and dangerous to their lives, but always complain of lack of money to buy quality ones," he stressed.
The programme is supported by the European Union, EU and United Nations Industrial Development Organisation, UNIDO.
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