BY FAVOUR NNABUGWU

ABUJA – Minister of Trade and Investment, Mr. Olusegun Aganga, said yesterday there would be structural changes in the ministry to ensure the success of the transformation agenda of the government, especially with regards to economic growth.

Aganga said he was appointed, alongside Minister of State, Dr. Samuel Ortom, to transform and refocus the new ministry as the driver of the nation’s economy, and charged the staff to work hard for sustainable  economic growth and jobs.

He told the staff of the Ministry: “This will require a new way of thinking some reforms and structural changes, finding creative solution to our challenges, a renewed commitment and a determination to succeed. I will, of course, welcome ideas and suggestions from you.

“Our mission is to transform this new  Ministry of Trade and Investment and ensure that it takes its rightful place as the driver of the Nigerian economy.

“In any country, this ministry should be the heart of the economy and, in fact, it is the case in many developed and developing economies.”

Aganga, however, emphasized the need for the economy to be private sector-driven due to the enormous opportunities, challenges and size of the investment required.

“As you are probably aware from the Vision 20:2020 document, the investment required in the next four years is close to N35 trillion. Of this, about N10 trillion is expected from the Federal Government, N9 trillion from the state governments and N15 trillion from the private sector.

“Given the amount aggregated to capital project in our annual budget, it is clear that achieving Vision 20:2020 will rely heavily on the private sector, hence the need to refocus and rename the ministry, which is that vital link  between the private sector and economy,” he  said.