CBN Plans to Make NSPMC Among World's Best 10
From Cletus Akwaya in Abuja
A comprehensive rehabilitation package aimed at moving the Nigeria Security Printing and Miniting Company (NSPMC), to rank among the best 10 in the world is being worked out by the Central Bank of Nigeria (CBN).
Governor of CBN, Prof. Charles Soludo disclosed this in Abuja saying there was no reason why Nigeria should spent billions of naira to printing her currency abroad when it had capacity to print all her currency requirements locally.
"I have just come back from a trip to see how others do it.There is no reason why the Mint in three years cannot be among the top 10 in the world" he said in a speech at the closing ceremony of the 45th annual conference of the Nigeria Economic Society (NES) in Abuja.
Soludo described as a national shame, the inability of the Mint to operate to capacity and vowed to "break the jinx that Nigeria cannot manage."
He decried the public attitude to amangement of Government enterprises which he said emphasised corruption at the expense of patritic service.
"Once peole treat public enterprises as if tthey are there to chop , the machines must braek down and the parts bought at prices three times and somebody gets thousands of dollars from competitors to go on holidays. That's why Nigeria is not industrializing, that's why Nigeria is not growing" he stressed.
He said mthe Mint was a thing of regret that Nigeria's currency was being supplied by countries with lower capacity pledging to end the practice within three years.
Speaking on the theme of the NES conference,
"Challenges of Nigerian Industrialisation: Apath Way to Nigeria Becoming A Highly Industrialiased Country
In The Year 2015" the CBN boss said what was important was for the country to identify her niche areas.
For instance, he said the petrochemicals was one
sector Nigeria has comparative advantages in the emerging global economy.
Also, he said the country could consider the development of industrial clusters or technological parks even on a pilot basis around the six geo-political zones.
But to achieve however, he said a certain level of patriotism was required from the citizen for the necessary sacrifices to be made.
"The whole issue of nationalism is very critical. How many believe in and are prepared to pay the supreme sacrifice to move Nigeria forward?"he querried.
Soludo said the Federal Government was aware of the growing desire for industrialization and had made strategic plans within the context of the National Economic Empowerment and Development Strategy(NEEDS) to grow the economy and place the private sector as the engine for industrialization and development.
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