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Unemployment: Africa, least industrialised continent worldwide — Senator

Senator Osita Izunaso, Chairman Senate Committee on Capital Market, says Africa remains the least industrialised continent in the world. Izunaso said Africa, despite being the…

Senator Osita Izunaso, Chairman Senate Committee on Capital Market, says Africa remains the least industrialised continent in the world.

Izunaso said Africa, despite being the least industrialised continent in the world, Nigeria was on the right track to promote business activities and bring back industrialisation.

He spoke Monday in Abuja at the Hendai Investment Limited inauguration ceremony of its board of directors/presentation of Hendai smart city business opportunities, with the theme “Building the African Economy through Industrialization”.

He said: “We are on the right track. In the sense that anything that will promote business activities in Nigeria will also promote industrialization and also promote growth and development in our country.

“Unarguably today, Africa is the least industrialised continent in the world, which means that the entire world will be looking to us Africa. When we come to Africa, Nigeria’s population is what makes Nigeria that destination hub”.

While commending Hendai for their initiative on the smart city business, Izunaso said: “I’m happy to associate with your smart city business which you have highlighted your four cardinal points of wealth creation, job creation, housing revolution and improving human beings. I believe as we create the smart city, we will also create smart human beings. So what you’re doing is the right thing, government cannot do everything, there must be that synergy between the public and private sector”.

Owoediinyene Essien, Chairman/CEO Hendai Investment, said Hendai presents a veritable solution by offering an industrialization program to partner with various African Governments and relevant stakeholders.

“For several decades, Africa has been suffocating under the grip of poverty and underdevelopment; this is a direct consequence of poor economic development and overdependence on importation which impoverishes the continent while creating wealth for the developed countries.

“This industrialization program will be executed through the manufacturing and sale of various products such as; computers, smart phones, smart television, phone accessories, solar energy products, agro-allied products, hair products/accessories, textile materials, modern furniture etc.

“For local consumption and extensive exportation, massive production plants will be built in our smart city in Nigeria and also in our various smart cities across major countries in Africa. It is therefore safe to say that Hendai Investment Limited through the ‘Hendai Smart City Business Opportunities’ will beam a ray of hope to illuminate the darkness of poverty and create wealth through economic development that will usher in lasting security in the African continent,” he said.

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