✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live
SPONSOR AD

Imported goods: ‘Nigeria growing other countries’ economies’

Nigeria has been growing other countries’ economies through over-dependence on imported goods, especially those which have local substitutes. UNIDO Regional Director for West and Central…

Nigeria has been growing other countries’ economies through over-dependence on imported goods, especially those which have local substitutes.

UNIDO Regional Director for West and Central African regions, Mr. Jean Bakole, made this declaration in Lagos, yesterday, when he declared open the Made-in-Nigeria Exhibition session during the 51st Annual General Meeting (AGM) of the Manufacturers Association of Nigeria, MAN.

He noted that due to the prevailing economic situation in the world, and in particular in the African region, the time is apt for all Nigerians to start patronising goods and services produced locally to encourage local manufacturers to support economic growth. 

“Nigeria can easily experience a breakthrough in the quest for local content development and a stable, strong and advanced economy if Nigerians would encourage the production and patronise made-in-Nigeria products. It is a well-known fact that the economy of any nation grows rapidly when locally made goods are promoted through patronage, first by its people then through export. Over-dependence on importation of goods weakens the currency, creates unemployment, and consistently reduces the GDP,” he said.

Nigeria, China strategic partnership key to Africa’s development – Shettima

Nigeria, China strategic partnership key to Africa’s development – Shettima

He added that local production will promote gainful employment for Nigerians and will reduce the dependence on the consumption of foreign products and reduce poverty.

MAN President, Otunba Francis Meshioye, urged the government to take immediate action to promote Made-in-Nigeria products among MDAs, adding that a special day should be designated as “Proudly Nigeria Day,” where individuals and MDAs would be encouraged to dress in Made-in-Nigeria outfits and prioritise the purchase of products that are locally made.

 

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

Do you need your monthly pay in US Dollars? Acquire premium domains for as low as $1500 and have it resold for as much as $17,000 (₦27 million).


Click here to see how Nigerians are making it.