Boss Mustapha, the Federal Government’s Secretary, stated on Tuesday that the Federal Government’s participation in developing local industries has resulted in the rise of local firms.
As a result, he added, Nigerians now proudly consume products labeled “Made in Nigeria,” adding that this would have an impact on the country’s Gross Domestic Product, the creation of jobs, and the cost of production.
Mustapha made the remarks while giving the keynote presentation at the opening of a Nigerian-made products show in Abuja.
The exhibition is part of the Diamond Jubilee celebrations in Nigeria.
He said, “The intervention of the Federal Government of Nigeria in developing local industries has resulted in a boom in the growth of local businesses. Local production of hitherto imported products is beginning to gain grounds that I make bold to say that the materials produced locally can compete favorably with the imported ones.
“Nigerians now proudly use products branded made-in-Nigeria. This development will no doubt attract several benefits to the country including increase in its Gross Domestic Product, generation of employment opportunities and reduction in the cost of production.”
He also stated that the government was beginning to show more interest in and provide more assistance for local production in order to stimulate the expansion of local industry, noting that it was a 10% contributor to the GDP.
Mustapha tasked regulatory bodies with ensuring that local products met international standards.
He said, “Manufacturing is part of the economic sector in Nigeria that contributes approximately 10 per cent of its Gross Domestic Product each year. The production activity centres on the production of household goods, consumer products, agriculture, mining, cement, building materials, chemicals and so on.
“It is instructive to note that three sectors namely food & beverages, cement, and textile account for 77 per cent of the manufacturing output generating value in the country.
“The government is beginning to show greater interest and provide more support for local production in order to encourage the growth of local industries.
“Our economic diversification strategy would rely heavily on the extent to which we create globally competitive products. Therefore, we have to take the issue of standards seriously and I implore all our standards regulatory agencies to provide all the necessary guidance to local producers to ensure they meet global standards.”
In his address, the Minister of Industry Trade and Investment, Niyi Adebayo, said that the purpose of the event was to promote local content and showcase Nigeria’s rich cultural heritage.