UNIDO: Nigerians Developing Other Countries’ Economies through Massive Importation

•Harps on need to support local  manufacturers

Dike Onwuamaeze

The United Nations Industrial Development Organisation (UNIDO) Regional Director for West and Central African Regions, Mr. Jean Bakole, has harped on the need to support Nigerian manufacturers as well as micro, small and medium scale enterprises (MSMEs) in order to grow Nigeria’s economy and end the era when Nigerians develop other countries’ economies through over reliance on importation.

Bakole made this call yesterday in Lagos, when he declared open the Manufacturers Association of Nigeria’s (MAN) three-day, “Made in Nigeria Exhibition,” (MANEXPO2023) where he said  government should sustain local manufacturers through appropriate policies, provision of basic infrastructure, effective continued support to MAN and its members and other key incentives.

He explained: “There is need to support local manufacturers/MSME and start-ups who are involved in producing made-in-Nigeria goods.

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

“Yet, 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. On the other hand, local production will promote gainful employment for Nigerians and will reduce the dependence on the consumption of foreign products and reduce poverty.”

He said 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 in Nigeria to encourage local manufactures to support the economy growth.”

Bakole, said the intervention of the federal government in developing local industries would result in a boom in the growth of local businesses while patronage of locally produced goods by Nigerians would “no doubt attract several benefits to the country including an increase in its GDP, generation of employment opportunities and reduction in the cost of production.

“Therefore, the government should sustain the tempo through appropriate policies, provision of basic infrastructure (energy, roads, etc.) and other key incentives as well as effective continued support to MAN and its members.”