The Minister of Science and Technology, Dr. Ogbonnaya Onu, Tuesday said the leather industry is the nation’s next gold mine and holds the key to industrial growth, jobs and wealth creation.
Onu, who made the remark at the validation workshop on National Leather and Leather Products Policy held at the Giginya Hotel, Sokoto, described the leather industry as strategic in view of its importance in the economic diversification of the country.
The minister, who was represented by the Director General, National Centre for Technology Management, Prof. Okechukwu Okwuoma, noted that the leather industry generates N24.5 billion annually and has the capacity to create about 700,000 direct and indirect jobs.
Onu stated that President Muhammadu Buhari was working diligently to improve the socio-economic well being of the people by vigorously promoting the increase in local content, diversification of the nation’s economy and transformation from a resource-based to knowledge-based economy.
According to him, it is in line with this that the Federal Ministry of Science and Technology in its drive to diversify the national economy and conserve foreign exchange through import substitution came up with various projects on the application of indigenous and innovative technologies for value addition.
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