The Federal Government has reiterated its readiness to drive the growth of locally produced goods, while also calling on Nigerians to patronise Made-in-Nigeria products.

Speaking yesterday at the opening ceremony of the 2019 Lagos International Trade Fair, President Muhammadu Buhari explained that promoting locally made products would facilitate the realisation of a the new Nigeria, maintaining that the nation must grow whatever it consumes and consume what it produces.

The President, who was represented by the Minister of State for Industry, Trade and Investment, Amb. Maryam Katagum, called on 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 consumer what we produce.”

According to him, trade fairs are vital economic tools for the realisation of the government’s economic agenda for the industrial upgrade and economic development of the country, stressing that they would not only enhance business confidence but also lead to the increase of foreign direct investment into the economy.

“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 added.

He noted that the economic focus of his administration was to diversify from a mono product economy with the special focus on non-oil sector, using the private sector as the arrowhead.

“To achieve this, government has made concerted efforts at enhancing the Export Expansion Grant (EEG) initiative, which is often given to deserving exporters while using the Bank of Industry (BOI) 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 (MSME) sectors,” he added.

Earlier, Lagos State Governor, Babajide Sanwo-Olu, represented by the Deputy Governor, Dr. Obafemi Hamzat, said the state’s commitment to promoting and connecting businesses across transnational borders remain strong and unshaken.

“We shall leave no stone unturned in ensuring that Lagos State truly becomes a 21st century economy which actively supports the growth of the local economy through improved ease of doing business, innovative incentives and interventions as well as quality service delivery by a well-motivated public service,” he said.

President of Lagos Chamber of Commerce and Industry (LCCI), Babatunde Runwase, said the country needed right policies and commitment to infrastructural development to revive investors’ confidence in the economy.

Ruwase added that the policies must be friendly and supportive to medium and small-scale enterprises.

“Our economic and investment policies must be friendly to make Nigeria a major investment hub in Africa. We need the right policies as well as strong commitment to infrastructural development to revive investors’ confidence in our economy,” he said.

(The Guardian)

Update news