The Secretary to the Government of the Federation (SGF), Senator George Akume, has emphasized the importance of Nigerians patronizing goods made in Nigeria, framing it not only as an economic strategy but also as an act of national pride. Akume made this call during a visit by the Innoson Group of Companies, led by its Chairman, Chief Innocent Chukwuma, to his office in Abuja.
Government Commitment to Local Businesses
Akume affirmed the President Bola Ahmed Tinubu administration’s commitment to creating an environment where indigenous businesses can thrive. He highlighted the significance of strengthening Nigeria’s industrial base and scaling up local manufacturing across key sectors. The SGF noted that the government’s Renewed Hope Agenda includes all aspects needed to realize Nigeria’s dream of a one trillion-dollar economy.
He urged Nigerians to support government programs for economic development by consciously choosing products made in Nigeria. Akume asserted that these products can compete favorably with those made elsewhere and commended Chief Chukwuma for his contributions to the Nigerian automotive industry. He assured that the government would continue to patronize Innoson products, encouraging others to do the same to grow the local manufacturing sector.
Benefits of Patronizing Made-in-Nigeria Goods
Patronizing made-in-Nigeria goods offers numerous economic advantages:
- Strengthening the Naira: Increased demand for local goods reduces reliance on imports, preserving foreign reserves and strengthening the Naira.
- Job Creation: Supporting local industries leads to direct and indirect job creation, aligning with the government’s Renewed Hope Labour Employment and Empowerment Programme (LEEP).
- Economic Diversification: Encouraging local production contributes to diversifying the economy and promoting resilience.
- Boosting GDP: Increased domestic production boosts the nation’s Gross Domestic Product (GDP).
- Technology Transfer: Promoting domestic production encourages technology transfer and improves Nigeria’s foreign exchange earnings.
Beyond economic benefits, patronizing made-in-Nigeria goods fosters national pride and reduces the cultural preference for foreign products.
Challenges and the Way Forward
Despite the potential benefits, several challenges hinder the growth and acceptance of made-in-Nigeria goods:
- High Production Costs: Unreliable power supply, expensive raw materials, and high taxes increase production costs.
- Perception of Quality: A lingering perception exists that foreign goods are superior.
- Limited Availability: Many markets stock more foreign goods than local ones.
- Policy Inconsistency: Shifting policies and administrative hurdles discourage investment.
- Infrastructure Deficits: Unreliable infrastructure, especially power supply, increases operational costs.
To overcome these challenges, the government is urged to:
- Strengthen Regulatory Agencies: Enforce quality control through agencies like the Standards Organisation of Nigeria (SON) and NAFDAC.
- Provide Policy Support: Enforce local content laws, prioritize Nigerian-made goods in public procurement, and offer tax incentives to local producers.
- Invest in Infrastructure: Improve power and transportation infrastructure to reduce production costs.
- Promote Branding and Marketing: Launch national campaigns to build consumer confidence in local goods.
Government Initiatives and Policies
The government has implemented several initiatives to boost local production and encourage the patronage of made-in-Nigeria goods:
- “Nigeria First” Policy: Prioritizes the use of locally made goods and services in all government procurements.
- Executive Order 003: Mandates the patronage of locally manufactured products by government entities.
- Renewed Hope Agenda: A comprehensive plan to strengthen Nigeria’s industrial base and achieve a one trillion-dollar economy.
- Presidential Fertilizer Initiative: Aims to boost local food production and reduce imports.
- Local Content Laws: Enforce the use of locally sourced materials in key sectors.
- Public Procurement Policies: Government agencies should prioritize Nigerian-made goods in their purchases.
- Tax Incentives: Reducing taxes and offering duty exemptions for businesses that produce locally.
Conclusion
Senator Akume’s call to patronize made-in-Nigeria goods reflects the government’s commitment to economic diversification, industrialization, and self-reliance. By prioritizing local products, Nigeria can strengthen its economy, create jobs, and foster national pride. Overcoming the challenges facing local manufacturers requires a collective effort from the government, businesses, and citizens to build a thriving and competitive domestic industry.
