BOOSTING NIGERIA MADE PRODUCTS & SERVICES — NIGERIAN GOVERNMENT’S COMMITMENTS TO BOOSTING LOCAL PRODUCTIVE CAPACITY — “We must now insist that at State banquets we eat and drink Nigerian.” – Yemi Osinbajo
You can now purchase Nigeria Made Products On line — Buy Nigerian, Use Nigerian.
The Commodities & Products Inspectorate of the Federal Ministry of Industry, Trade & Investment has achieved much in its drive for utilization of Nigeria-Made products and bringing the buyer and seller together. In fact, purchasers are now able to purchase made in Nigeria products on line at local online stores. The Executive Order 003 signed by Vice-President Yemi Osinbajo who stood in for President Muhammadu Buhari has increased the level of patronage of made-in-Nigeria goods by public procurement agencies, and is an affirmation of the commitment of government to building local productive capacity. The department is moving very swiftly to create the awareness desired to get local users of Nigeria Made fabrics in the hospitality industry, airlines, tour operators, and even government offices to utilize locally produced fabrics like adire (tie & dye) as curtains in offices. It would do no harm for private homes to also use Nigeria made fabrics as curtains in homes and offices.
Signing the Executive Order on Ease of Doing Business in Nigeria last year, Vice-President Yemi Osinbajo explained that there was a compelling need for “the promotion of transparency and efficiency in the business environment, designed to facilitate ease of doing business in Nigeria; support for local content in public procurement by the government, and timely submission of annual budgetary estimates by all statutory and non-statutory agencies”. Osinbajo added that: ‘’The President has laid out a cornerstone policy of this administration…we must grow what we eat and make what we use. ‘’The President again enunciated this principle in the Economic Recovery and Growth Plan…Buy Nigerian, Use Nigerian. “So we must now insist that at State banquets, we eat and drink Nigerian.” This is an idea that is worth emulating by the three arms of government as well as by States and local governments.
ACTUALIZING THE OBJECTIVE: The Commodities & Products Inspectorate Department of the Federal Ministry of Industry, Trade & Investment is moving to strategically to create the desired sustainable awareness and attitudinal changes and guidance through policy implementation. It has consistently invited attention locally and abroad to the fact that Nigeria can develop phenomenally, only if all Nigerians take proper steps to reposition the country for greatness. Substantial gains have been recorded in the past few years. Investors are being invited to note that Nigeria is abundantly endowed with human and material resources that could sustain a broad-based growth and development, particularly in the non-oil exports sector. Nigeria’s economy constitutes 76 per cent of the economy of the Economic Community of West African States, ECOWAS. Nigeria also holds 30 per cent of the economy in sub-Saharan Africa, and 21 percent of Africa’s economy.
DIVERSIFICATION: An agenda of diversification of the economy is being ferociously implemented; utilizing the private sector as engine for growth in a Public/Private Sector partnership arrangement. Great emphasis is being accorded promotion of Nigeria made products and services that are accorded prominence as the backbone of the national economy. The campaign is hinged on the aspirations of the citizenry and the potential markets. The purposeful implementation of this agenda is producing the desired results by way of stimulating the economy through Nigeria Made products; but greater involvement of the citizenry is still required alongside more collaboration among the three tiers of government and the private sector. The Nigerian government’s policy on industrialization, trade and investment is one that is worthy of support by all who mean well for the nation.
BOOSTING NON-OIL EXPORTS: For instance, just like traditional Chinese medicine is deeply rooted in the hearts of the Chinese people, it is possible to move Nigeria forward through alternative medicine. We have most of those plants and raw materials that are manufactured and turned into herbs in Nigeria. All that we need do is to demonstrate interest and patriotism, as government continues to create the enabling environment and play its regulatory role. We can get there speedily if we work together. Investors in the Made in Nigeria sector are being encouraged through policies already put in place for ease of doing business. The Bank of Industry is infusing capital and funding support through various financing schemes to promote patronage of locally made goods and products. Particular attention is being accorded Small & Medium Enterprises that have the capacity to boost production and job opportunities progressively.
SMEs are veritable means of reviving old, moribund and even new schemes. The Manufacturers Association of Nigeria has keyed into the agenda and is showing commendable interest by sensitizing its members. In addition to the compilation of lists of locally-manufactured goods, manufacturers are being afforded the opportunity of having access compendium of all factors that are designed to fast track achievement of goals and objectives. Government is pushing forth information to investors and consumers, the global community, and indeed, all who wish to know how and where to contact to get quality made-in-Nigeria goods. Government is creating awareness and at the same time requesting investors and consumers to show serious commitment to participating in the nation’s economic development for the full exploitation of the potentials of the various sub-sectors of the national economy.
POSITIVE EFFECTS OF BOOSTING NIGERIA MADE IN PRODUCTS & NON-OIL EXPORTS: There is evidently a brighter tomorrow if Nigerians could embrace and support the policy of the federal government in the area of promoting local products and services and non-oil exports. For the avoidance of doubt, Nigerians at home and abroad are reminded that there is enormous hope as this policy would produce the following results:
- Boost the economy
- Correct imbalance in the economy
- Source of encouragement for producers and consumers of locally made items. In this connection, Government is bringing together and linking producers and consumers, even through on line media platforms. This is being increased in scope and coverage with the objective of reaching the whole world particularly the Nigerian and African Diaspora
- Encourage State and local governments to key into this activity
POSITIVE EFFECTS OF THE CAMPAIGN
- The standard of living will improve drastically
- Reduce dependence on oil revenue for survival.
- Encourage production of cash crops that yield huge foreign exchange as palm oil, cashew, cocoa, soya beans, rubber, rice, petrochemical, leather, ginger, cotton, and Shea butter.
- Bring buyers and sellers together
- Increased awareness
- Creation of jobs and employment opportunities
VAST & LIMITLESS OPPORTUNITIES FOR PROSPECTIVE INVESTORS: Although Nigeria ranks sixth in the world in agricultural output, and first in Africa, its agricultural techniques have not kept pace with the nation’s rapid population growth. As a result, Nigerian food exports have been declining for a number of years, while imports have increased. There has however, been large resurgence of manufacturing and exporting of processed food products. As a result, agriculture accounts for two-thirds of the nation’s employment. This has influenced the measures for improvements that the Muhammadu Buhari administration has put in place in the past few years to entrench economic and attitudinal changes on the part of Nigerians who are being encouraged to partner with government to build a resilient economy. Nigerians in the Diaspora, given their usefulness and high relevance, have not been left out of the equation with strong appeals and encouragement for participation in the development of Nigeria’s economy.
THE NIGERIAN MARKET IS HUGE: Nigeria, with a population of 200 million people is easily the largest market in Africa and offers wide opportunities to local and foreign investors. Foreign and local investors could use Nigeria as base to reach other African nations. It is obvious that massive support of all Nigerians at home and abroad is required for the Nigeria Made Products policy of the Federal Government that is beneficial to all Nigerians. A publication titled: Economy Watch as far back as 2010, noted that: ‘’Nigeria is an African nation, considered an emerging market, ranked as the 21st largest economy by nominal Gross Domestic Product (GDP) and could go higher. Nigeria is the largest economy in Africa. According to the Report, Nigeria’s economy has exited recession through policies driven mainly by improved net exports (trade balance), with all other components of real GDP.
REASONS WHY DECISION TO INVEST IN NIGERIA – AN EMERGING MARKET: Investing in Nigeria, among others, offers the following significant advantages to potential investors:
- Enormous human and material resources that are yet to be fully exploited. Utilization of raw materials for local production insulates the Nigerian economy to a large extent, against global commodity price shocks
- The expansive Nigerian Market, stretches into the West African sub-region with a capacity to reach other parts of Africa
- Creation of conducive business and industrial environment through policies and programmes that guarantee a free market economy.
- The private sector in the State is dynamic and has assumed greater responsibilities that make the sector the principal engine of economic development.
- A non-discriminatory policy with respect to local and foreign investors; with government protection and incentives.
- There is a well-developed banking and financial sector. Credit facilities are easily accessible by investors.
- Skilled labour is abundant at an economic cost. This leads to low costs of production.
- OTHER KEY ISSUES: Government has a policy of Manufacturing-driven growth that has the highest impact on job creation. Nigeria remains a key nation that is driving economic integration in Africa, a continent regarded as the next frontier of the global economy. The 2019 African Economic Outlook published by the African Development Bank asserts that: ‘’At the core of African integration, is an envisaged “Borderless Africa” that is viewed as one of the key foundations of a competitive continental market that could serve as a global business centre”. The best of Nigeria lies ahead of us all Nigerians, as the federal government makes good its decision to invest in infrastructure, and spend more money on capital projects, roads, power, health and the rest. About N2.7 trillion is going into those critical areas that drive development.
STAY IN TOUCH: Kindly stay in touch with TERRIFIC HEADLINES and our associated channels as we prepare to link you up with the appropriate desk managing the policy that is driving the MADE IN NIGERIA project. We will provide telephone numbers, email addresses and other channels of communication for interactions by investors, Nigerians locally and abroad and all who may wish to invest in NIGERIA MADE PRODUCTS.
So, in the words of Vice-President Yemi Osinbajo, “We must now insist that at State banquets we eat and drink Nigerian” It is sure that no foreign aid or grant will do that for Nigerians. We all must build the Nigeria of our dream.
Nigeria’s Dry Bones Shall Surely Live Again.