Vice-President Kashim Shettima has urged African countries to focus on processing their natural resources locally instead of exporting them in their raw form, saying the move would boost industrialisation, create jobs and strengthen the continent’s economies.
Speaking during a visit to the Glo-Djigbé Industrial Zone in Cotonou, Benin Republic, on Friday, Shettima said Africa must take greater advantage of its natural resources by developing industries that transform raw materials into finished products.
He said exporting raw materials while importing finished goods made from those same resources deprives African economies of value, employment opportunities and long-term growth.
The Vice-President commended Benin Republic for building integrated value chains in cotton, cashew and soya bean processing, describing the industrial zone as a model for other African countries seeking to expand manufacturing and attract investment.
Shettima noted that although Africa has significant cotton production potential, the continent accounts for only about one per cent of the estimated $370 billion global cotton industry. He said reviving Nigeria’s textile sector could create millions of jobs, increase non-oil exports and stimulate economic activity.
He explained that the visit was aimed at studying successful industrial models that could be replicated in Nigeria under President Bola Tinubu’s Renewed Hope Agenda.
According to him, the Federal Government is establishing eight agro-industrial zones across eight states to strengthen agricultural value chains and support industrial development nationwide.
During the tour, the Nigerian delegation inspected facilities where cotton is processed into yarn, fabric and finished garments, as well as plants producing cashew and soya bean products for domestic use and export.
Shettima was accompanied by the governors of Kwara, Imo, Katsina, Plateau, Zamfara and Jigawa states.