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By Maryam Aminu, Abuja

The honorable minister of industry, trade and investment Mr. Otunba Richard Adeniyi Adebayo has on Tuesday 4th September 2021 launched a sustainable supply chain and procurement school also known as ISO 20400.

The scheme intends to increase trading investment and make sub-Sahara and Africa a more favorable destination for foreign investment, especially with the present economic uncertainties.

According to the minister, while giving his opening remarks, the supply chain sustainability school in Africa is been set up as a subsidiary of the International network of public responsibility.

Eustace Onuegbu, the senior lead implementer said  the vulnerability of the supply chain that has been exposed by the pandemic is been witnessed everywhere in the world so we need to now begin to think about localization, “how do we develop our own resources at the local level?” He further asked.

He added that when the program commences at the local level, “we won’t be frustrated in times of pandemic, we won’t be left out in production line and our supply won’t be affected”.

Eustace further stressed that Nigeria is not a strong/huge manufacturing country but, “we are a trading company, that is why we are beginning to develop a sustainable strategy and framework so that we will drive international trade and position ourselves to benefit in the increased trade that will kick start in few years”.

He made it known to the press that ISO 20400 was drafted and approved by experts from 160 countries all around the world and it was meant to standardize practices in the supply chain.
“Our expectation is a body sector support from the Ministry of Industry, Trade, and Investment.

“The Ministry has been mandated with the authority and responsibility to make policies that support trade, drive employment and create wealth. So they should lay policies that will encourage organizations to begin to subscribe the idea of implementing sustainability principles for us to compete globally”.

Also speaking, Mr. Faith Nwaobi emphasized the importance of the initiative especially for Nigeria’s economy as this will reduce poverty and uplift the country’s trade and investment and make the nation worthy to compete globally.

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