Vice President Kashim Shettima has emphasized the importance of promoting made-in-Nigeria products, reiterating that Executive Order 003, which mandates the patronage of locally manufactured goods, remains in effect. The Vice President’s call underscores the Federal Government’s commitment to revitalizing the Manufacturing sector and fostering economic self-reliance. Shettima announced that the Federal Government is collaborating with the Manufacturers Association of Nigeria (MAN) to develop a comprehensive roadmap and policy framework aimed at overhauling the nation’s manufacturing landscape. This strategic partnership is designed to expedite the implementation of measures that will stimulate growth and Innovation in the sector.
Speaking at the opening of the three-day National Manufacturing Policy Summit at the State House Banquet Hall, Shettima lamented the numerous challenges the manufacturing sector has faced over the years. He urged stakeholders to leverage the summit as a platform to craft actionable strategies that will drive the sector forward. “Distinguished ladies and gentlemen, I implore us all to leverage this summit to develop an actionable roadmap and policy framework, ready for immediate implementation, to create the changes we want in the manufacturing sector,” Shettima stated. He assured attendees that the government remains open to accommodating their needs and expectations.
Supporting local firms is a path to industrialization.
Shettima highlighted the critical need to support local firms, asserting that industrial progress hinges on the deliberate promotion of capital goods production within Nigeria. “We must be focused on expanding our production base, prioritizing local content, and promoting made-in-Nigeria products,” he emphasized. The Vice President reaffirmed the enforcement of Executive Order No 003, which mandates government Ministries, Departments, and Agencies (MDAs) to patronize locally manufactured products. This directive is part of a broader strategy to enhance the capabilities of indigenous firms and reduce Nigeria’s dependency on imports.
The “Buy Made-in-Nigeria” campaign is integral to the Federal Government’s economic strategy. It aims to encourage consumers and businesses to choose locally produced goods over imported alternatives, thereby supporting domestic industries and fostering economic growth. The campaign is not only about reducing import dependence but also about showcasing the quality and competitiveness of Nigerian products. By encouraging MDAs and the general public to buy locally, the campaign seeks to create a robust market for Nigerian goods, stimulate job creation, and drive technological advancements within the country.
Five pillars for manufacturing sector growth.
Further, the National Manufacturing Policy Summit provided a platform for stakeholders to reassess the sector’s challenges and propose viable solutions. A competitive manufacturing sector, according to Shettima, can significantly reduce economic inequalities and bolster Nigeria’s economic resilience. “Our proposal to minimize the economic imbalances in the nation is based on strengthening the production base of our economy, particularly in manufacturing,” Shettima explained. He noted that many of Nigeria’s economic issues stem from over-dependence on imports, highlighting the need to develop a self-sustaining manufacturing sector.
Also, the summit featured exhibitions that showcased Nigeria’s industrial capabilities, creativity, and innovation. Shettima expressed confidence in the country’s potential, stating, “I am convinced more than ever of Nigeria’s industrial capabilities, creativity, and innovation.” The Vice President identified five key pillars essential for revitalizing the manufacturing sector: enhancing the efficiency and global competitiveness of Nigerian manufacturers; addressing the critical need for reliable energy supply and robust Infrastructure to support industrial activities; creating a favourable business climate that attracts Investment and fosters industrial growth; encouraging the consumption of locally produced goods and supporting the development of indigenous industries; and capitalizing on regional and continental Trade agreements to expand Export opportunities for Nigerian manufacturers.
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Finally, the “Buy Made-in-Nigeria” campaign and the directives from the Federal Government aim to create a sustainable and self-reliant economy. Francis Meshioye, President of MAN, thanked participants for their involvement in the summit, acknowledging President Tinubu’s support and hospitality in hosting the event at the State House. Meshioye expressed optimism that the collaborative efforts of the government and Private Sector would yield positive results for the nation’s manufacturing industry. The emphasis on local content and the promotion of made-in-Nigeria products is a strategic move towards economic independence and industrial growth. The Federal Government’s directives and the collaborative efforts with MAN signify a committed drive to transform Nigeria’s manufacturing sector, ensuring it becomes a cornerstone of the nation’s economic development.