Nigeria’s Senate President, Dr Bukola Saraki, on Monday, flagged off a Made-in-Nigeria challenge, aimed at encouraging local manufacturers in the country.
He made the announcement in a statement posted on his twitter handle, where he also said that in the next few weeks, products that have the potential to grow sustainable business, expand the market and create jobs would be selected.
According to him, selected persons would then meet with business owners, investor and government agencies in order to promote their growth.
Saraki said, by March 2017, some of the finalists in the challenge would be invited for a Made in Nigeria Round-table at the Senate.
In order to participate in the challenge, interested persons have been asked to shoot a short video between 45 seconds and 3-minutes long, showcasing their products or services that serve as alternatives to imported ones.
Furthermore, “We will also use the opportunity to get feedback on the public procurement act passed by the Senate in 2016, which mandates government agencies to give preference to local manufacturers in the procurement of local products and service,” Saraki stated.
Economic Recession
With the crash in oil prices, in a country that has solely relied on oil as a major source of revenue, the Federal Government of Nigeria has since begun to look for alternative sources of revenue generation.
Areas such as agriculture and manufacturing, have proven to be the most viable means of resuscitating the nation’s economy, from what has been described as the worst recession in Nigeria’s history.
The Minister of Power, Works and Housing, Mr Babatunde Fashola, had stated that the Federal Government was committed to developing local capacity, by using made in Nigeria items in national building plans.
The recent move by the Senate President, seems to be a sure sign that the government is indeed set to improve the manufacturing sector among others, as well as create an enabling environment for entrepreneurship.
It is equally set to improve the quality of made in Nigeria goods in order to make them attractive for export into the international market.
