Nigeria has begun manufacturing of Sim cards in Lagos State.
Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, described the 200 million capacity sim card production plant as part of FG’s plan on diversification.
Enelamah made the statement while commissioning the SIM card plant.
The plant was set up with financial support from the Bank of Industry.
The plant aims to export the sim cards to neighboring nations.
Enelamah described the facility as of world class standard.
“One of the things we need to get right is the whole area enabling environment.
“Creating the right investment climate, ease of doing business for the private sector for Nigerian businesses to prosper.
“We are very committed in the area of financing.
“I want to acknowledge the Bank of Industry I for their support for Secure ID limited (the company that produces the sims).
We will be backing the likes of Bank of Industry and even the development bank that is coming up, “he said.
Minister of Communications, Adebayo Shittu, said efforts within the telecoms sphere would be garnered to ensure the home-grown company thrives.
He charged telecoms players to encourage local production by engaging the firm to produce their SIM cards.
“I believe we must not limit it to Nigeria; we must also spread to other countries,” he said.
The MD, Bank of Industry, Waheed Olagunju, also reacted to the bank’s decision to back the project.
“When we support projects, we do not only look at the financial viability of such projects.
“We look at the potential development impact and the multiplier effect.
“The facility we have commissioned today is the first of its kind in Africa for the production of SIM cards that are hitherto imported.
“There is also in country technology and know-how that would be transferred in the process.”