The Managing Director of logistics and engineering services company, LADOL Free Zone, Amy Jadesimi, has stated the importance of an industrialised Nigeria, noting that an industrialised economy would protect supply chains.
She stated this at the 2021 SPE Nigeria Council Annual Technical Symposium, calling for a diversification of the Nigerian economy.
Jadesimi said that Nigeria would end up becoming an industrialised economy even if it continued to drag its foot on the transition.
She said, “The key to having strong supply chains in Nigeria is industrial development and diversification. The data shows that the most profitable businesses and those that will have increased access to finance are sustainable businesses.
“Nigeria has an unmatched opportunity to grow and industrialise sustainably. Sustainable business models work across all industries.
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“In fact, in just four sectors – healthcare, agriculture, energy, and urbanisation – there are $12 trillion of sustainable business opportunities.
“As one of the fastest-growing countries in the world, our need is greater than most and our reward will be greater than most if we latch on to these opportunities now.
“We are living in a world where the largest country in the world, led by President Joe Biden’s administration, is making green commitments, not just in terms of transitioning but also in terms of investment today, far beyond the commitments made by previous leaders. UK, Europe, and countries in Asia are doing the same.
“Even if we don’t transit our economy, we will end up being forced to. But that is the wrong way to look at this global shift.
“Rather this shift is a chance for us to build the right way and achieve sustainable industrialisation ahead of wealthier countries, which have to backward integrate. Especially since technologies are getting cheaper.
“In summary, we need to industrialise to protect and strengthen our supply chains today – doing so sustainably through the local private sector will yield greater profits now and, in the future, unable to get access to cheaper, longer-term funding and put us at the forefront of a worldwide transition.
“While this transition could take another 20 to 30 years, there is no doubt that it is needed, it has started, and it will happen.
“To secure our supply chains today, to secure our economy and industries tomorrow, we must develop more local eco-systems, just as we have done in LADOL, which support a wide range of industries.”
