Senate passes bill to establish national industrial technology park for consideration

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The Senate passed for consideration a Bill establishing the National Industrial Technology Park as a clustering mechanism for the formation of knowledge and innovation based industrial parks in Nigeria; and for related matters, 2022.

The bill which received second reading in plenary on Tuesday is sponsored by Senator Ibikunle Amosun.

The bill focuses on economic development, youth empowerment and capacity building.

What lawmakers say

In his keynote debate, Senator Amosun noted that when the industrial park is established, it will be a vehicle for Nigerian entrepreneurs to converge and showcase their ideas and creativity, thereby reducing unemployment and unrest in the country.

While supporting the bill, Senator Ajayi Boniface said the bill would help diversify the Nigerian economy from a monolithic oil-dependent economy.

He said “An example of this industrial park is Silicon Valley in California, USA. California is wealthier than the wealthiest states combined due to the industrial activities of Silicon Valley. If we can realize this industrial park and support it with the law, it will help us.

The industrial park will help start-ups to have an environment where they can contribute to the development of the country.

Still in favor of the bill, Senator Barau Jibrin said: “This is a bill that will help us to be fully industrialized. This will help us achieve the nation’s long-term goals in terms of industrialization. I urge my colleagues to support this bill to bring large-scale industrialization to this country.

Senate President Ahmad Lawan, who praised Senator Amosun for the bill, noted that a better security environment needs to be provided.

I want to commend Senator Ibikunle Amosun for sponsoring this bill, and of course we have to make sure that we provide a better security environment, because if we want to create a national industrial park, that means accommodating more resources , we don’t have those resources. that we need in our country.

“We must work together at all levels of government to ensure that we create and maintain a better security environment that will encourage investors“, said Lawan.

The bill was referred to the Trade and Investment Committee to report back to the House, within four weeks, for legislative action.

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