EX-DEFENCE MINISTER, ADETOKUNBO KAYODE, SAN BACKS FG ON DEFENCE INDUSTRY ACTIVATION
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EX-DEFENCE MINISTER, ADETOKUNBO KAYODE, SAN BACKS FG ON DEFENCE INDUSTRY ACTIVATION
***Advocates Implementation of DICON LAW
Former Minister of Defence, Prince Adetokunbo Kayode SAN has tasked the Federal Government with the implementation of the Defence Industry Corporation Of Nigeria (DICON) law signed by President Bola Ahmed Tinubu last year in order to tackle insecurity in the country.
The Defence Industry Corporation of Nigeria primarily aims to provide arms and ammunition and critical infrastructure support for the nation’s armed forces and other security agencies.
The new DICON law signed last year by President Tinubu established a domesticated national defence industries sector.
The law seeks a transition into a national Military Industrial Complex (MIC) driven by the private sector, public-private partnerships, and self-funding, but properly regulated by the government.
In a statement on Sunday, Kayode said the implementation of the law would save Nigeria huge costs in the procurement of imported military hardware, which put pressure on the Naira and create employment for Nigerians.
Kayode said the implementation of the law, would make the country become a player in the defence industry sector while opening doors for export earnings. He said It would contribute positively to supporting Nigeria’s defence and security services in dealing with the national security situations, now and in the future.
Kayode however threw his weight behind the federal government on the activation of the defence industry sector in Nigeria.
He applauded the activation of the defence industrial sector in Nigeria as a new economy, saying this new initiative by President Tinubu would expand Nigeria’s socio-economic horizon.
Among others, he said it would enable Nigeria to substantially domesticate the production and supply of security and military platforms and equipment in Nigeria whilst providing job opportunities for both uniformed and non-uniformed Nigerians.
Kayode, who is the Chairman, of Security and Logistics Worldwide Limited, noted with appreciation, the effort of the current Defence Minister, Alhaji (Dr) Badaru, in the operationalization of the new Defence Industries Corporation of Nigeria Act (DICN) going by the scorecard of the Ministry of Defence.
His words “With committed implementation, the initiative will ultimately save Nigeria huge costs in the procurement of imported military hardware, create employment. Nigeria has become a player in the defence industry sector while opening doors for export earnings.
“It will definitely and positively contribute to supporting our defence and security services in dealing with the national security situations, now and in the future.”
Kayode stated that Nigeria already has agreements with several countries on defence and security cooperation, and reiterated that the DICON law would enable Nigeria to operationalize and maximize opportunities emanating from these understandings.
He also endorsed the call by House of Representatives member, Babajimi Benson on the resuscitation of the Defence Industries Association of Nigeria (DIAN), which aims to domesticate this industry and help the private sector to participate in the sector.
He said the active participation of the private sector in this new economy is very critical to the success of the government initiative.
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