president, however, observed that the figures

 

The NACCIMA president, however, observed that the figures are in stark contrast to the position of the Senate ad-hoc Co find mmittee on Privatisation, which posited that 80 per cent of the firms are not performing.

In addition, he said Nigeria can borrow from the lessons of the economic policies of the “Asian Tigers” — Hong Kong, South Korea, Singapore and Taiwan — to boost the manufacturing sector.
He, however, warned that Nigeria must exercise “caution” in trying to imitate the Asian poli business ies. He explained that government needs to consider the peculiarities of the nation’s economy and marry it with those of Asia in areas “where poli house cies are applicable rather than wholesale adoption”.
“This is because the casualty between growth and industrialisation could prove to be a costly mistake as seen in other countries, in pushing for rapid industrialisation,” Mr. Ajayi stated.

 

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