The Secretary to the Government of the Federal, Boss Mustapha, on Tuesday claimed that the intervention of President Muhammadu Buhari-led government in developing local industries has resulted in the growth of local businesses.
He further stated that Nigerians now proudly use products branded made-in-Nigeria.
Mustapha added that this would impact the nation’s Gross Domestic Product, generation of employment opportunities and reduction in the cost of production.
The SGF said this while delivering the keynote address at the opening of the exhibition of made-in-Nigeria products in Abuja.
The exhibition is part of activities to mark Nigeria’s Diamond Jubilee.
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 favourably 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 an increase in its Gross Domestic Product, generation of employment opportunities and reduction in the cost of production.”
Mustapha noted that the Federal Government is beginning to show greater interest and provide more support for local production to encourage the growth of local industries.
He disclosed that the local sector is contributing about 10 per cent to the GDP.
Mustapha charged standards regulatory agencies to ensure local producers meet global 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 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.”
Source: Naija News