#Financial news

‘How to revive Ceramic industry’

By Francis Akinnodi

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A Professor of Ceramic in the Department of Industrial Design, Federal University of Technology, Akure, Prof. Tolulope Akingbogun, has called on the Federal Government to place total ban on importation of ceramic products to revive the industry in the next decade.
Akingbogun also cautioned the government on making certain policies on some petroleum products, which he said have escalated problems in the ceramic industry.
Speaking at the weekend while delivering his inaugural lecture at the university, Prof. Akingbogun said the State and Federal government must fashion out economic policies that would enhance local ceramic production.
The former Deputy Vice Chancellor said the moribund Nigeria-Italian Ceramic industry in Ifon, Ondo State and the Oluwa Glass could be revived if the state government stops its hold on the property by inviting private investors.
He urged government to focus more on profitable policies that would encourage ceramic manufacturing and discourage investment that focuses on rent-seeking opportunities.
He tasked governments on creation of enabling environment for investors to operate, noting that fixing power supply challenges in the nation must given a serious attention “as ceramic mass production is largely energy-dependent.”
“Government should strengthen its economic policies. It should place embargo on the importation of ceramic products and also provide an enabling environment that can foster the growth of the local ceramic industry.
“There should be strict procedure of monitoring the quality assurance of ceramics products by the Standard Organization and any breach in standard should attract appropriate penalty.
“A statutory funding for research and development for newly emerging areas in the field of ceramics should be made available by the government, private ceramic industries and other stakeholders,” Akinbogun said.

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