President Muhammadu Buhari has urged Nigerians and the private sector to patronise Made-in-Nigeria products, saying that this is the only way the country can sustain its industrial inclusive drive towards achieve industrialisation.
President Buhari, said this yesterday at the opening ceremony of this year’s Lagos International Trade Fair in Lagos, noted that promoting locally made products is the only way out of the country’s present economic doldrums.
The President, who was represented at the occasion by the Minister of State for Industry, Trade and Investment, Ambassador Maryam Katagum, explained that patronising Made-in-Nigeria products is the new economic reality direction the country is heading to. Buhari said: “I want to reiterate my call to Nigerians to patronise Made-in-Nigeria products and services.
We must accept our new reality of promoting locally made products as it is evident that this is where our new Nigeria would be realised and that is why I have constantly emphasised that we must be a nation where we grow what we eat and consume what we produce.” According to him, his administration’s economic agenda was to pursue vigorously the diversification of the country’s economy from mono-product to non – oil sector, adding that the private sector has key role to play in ensuring that this initiative comes to fruition.
To achieve this, President Buhari explained that government has made concerted efforts at enhancing the Export Expansion Grant (EEG) initiative, which is a stimulation fund being given to genuine exporters, while also driving the Bank of Industry as a veritable tool to implement the small and medium enterprise guarantee scheme in an effort towards assisting the industrial and Micro Small and Medium Enterprises (MSME) sectors.
“The economic focus of my administration is to diversify from a mono – product economy with the special focus on non-oil sector, using the private sector as an arrow head. To achieve this,government has made concerted efforts at enhancing the Export Expansion Grant initiative, which is often given to deserving exporters while using the Bank of Industry as a tool to implement the small and medium enterprise guarantee scheme in an effort towards assisting the industrial and Micro Small and Medium Enterprises sectors.
He continued, “The task of transforming Nigeria into an industrial giant cannot be achieved without the needed collaboration with the private sector to ensure an inclusive sustainable path towards growth, job creation and economic development.” While speaking on the 2019 trade fair, President Buhari said, “Trade fairs of this nature are vital economic tools for the realisation of my government’s economic agenda for the industrial upgrade and economic development of the country. This will not only enhance business confidence but may also lead to an increase of foreign direct investment into our economy.
He continued: “The aim of this fair which is to connect businesses and create value is meant to empower African entrepreneurs through the bridging of technological gaps, developing and improving local business strategies, championing strategic investments and creating access to market thereby developing the Nigerian economy.” He also noted that the Federal Government was fully committed to its mandate of providing assistance that would guarantee the growth of MSMEs in ensuring that their products meet acceptable with global standards.”