You are here: HomeBusiness2022 06 20Article 565313

Business News of Monday, 20 June 2022

Source: www.thisdaylive.com

FG urged to leverage innovation around fossil fuel resources to drive process industries

File photo File photo

As technologies continue to drive global industries, the federal government has been urged to leverage the abundance of fossil fuels resources to drive the process industry and digitisation of the industrial sector in the country.

The global transformation towards carbon-neutral production has gained significant momentum in recent years and Nigeria holds about 60 per cent of pharmaceutical production capacity in Africa.

In view of this, the delegation of German Industry and Commerce in Nigeria (AHK Nigeria) ahead of the ACHEMA trade fair, is calling on the manufacturing industry in the country to leverage the conference to put Nigeria on the map as innovation around the chemical industry continues to attract foreign investment.

ACHEMA is the world forum for chemical engineering, process engineering and biotechnology and is the world’s leading show for the process industry that usually takes place every three years in Frankfurt.

Speaking in Lagos recently, the CEO of DECHEMA Exhibitions, Dr Thomas Scheuring, said the conference would enable Nigerian participants to interact with world-class companies to drive their industries with technological products.

For Katharina Felgenhauer, Delegate of German Industry and Commerce in Nigeria, “We see increasingly, more business interest and focus on the Nigerian market and we would continue to support German business.”

Commenting also, Covestro’s Chief Technology Officer, Dr Klaus Schäfer, said, “I sense a great spirit of optimism in the chemical industry. The urge to push ahead with new projects to build the global circular economy as well as to reduce greenhouse gas emissions continues to grow.”