To actualize Nigeria’s industrialization drive, Caesar Iyayi, chief executive officer of Caesar construction company has carpeted the Federal government’s planned policy to give 40 million vulnerable Nigerians five thousand nairas to cushion the effects of petroleum subsidy removal in 2022 saying the money could revolutionize the industrial sector of the economy.
Dr.Caesar Iyayi made the disclosure recently in Benin City at a press conference organized to proffer viable solutions documented in his 374-pages book titled “The ABC of how to industrialize Nigeria” as a panacea to the numerous economic woes of the country.
Speaking with a journalist, the astute entrepreneur said the country’s mono-economic dependence on oil for revenue was not sustainable as developed nations across the world are shifting focus to other sources of renewable energy adding that if not addressed this current economic crisis could spell doom for the country.
According to the entrepreneur, for Nigeria to fully drive the industrialization process which according to him could take a period of time in the immediate medium and long term spanning 1 to 3 years, electricity which is the major challenge has to be addressed using modern technology of renewable energy source.
He said for Nigeria to be part of the industrial revolution process taking place across the globe it has become imperative for government to tap into the abundant energy from the gases being flared in the southern part of the country.
He said: ” Nigerian government at the national and state level should harness the abundant energy from gases being flared in the southern part of the country to build industrial zones using solar panel technology in partnership with the host state where we have the gases being flared to support Nigerian entrepreneurs.
” it holds the key to our economic development, by 2040 our fossil fuel would no longer be in need globally hence we must begin to look towards revolutionizing our industries as viable and sustainable means of wealth and employment creation.
“Energy from gases flaring can be harnessed into solar energy through modern technology using the electric furnace LM 2500 capable of generating 23 to 32 megawatts which can further be synchronized to generate more energy by taping into available energy in gases being flared to produce solar panels for entrepreneurs.
” the president and the 36 governors must support this technology to enable us to have the capacity as a nation to produce what we consume as a viable alternative out of the current economic crisis because the government’s proposed plan to give 5000 nairas to 40million Nigerians can transform the industrial sector to create millions of jobs for unemployed youths.
” The solar energy technology can drive the industrialization process of our country as the Ajaokuta steel company, Delta steel complex and other companies in the country can help transform our economy by producing high grade machines, equipment’s, iron sheets and other equipment’s required in high demands which will help to boost our revenue generation and also create employment ” he added.
