Nigeria’s Senate President, Dr Bukola Saraki, on Monday, flagged off a Made-in-Nigeria challenge, aimed at creating “legislative instruments that encourage local manufacturers by getting information to ensure ease of doing business”.
He made the announcement via his twitter handle, where he also stated that in the next few weeks, products that have the potential to grow business, expand market and create jobs would be selected to meet with business owners, investor and government agencies in order to grow them.
By March 2017, Saraki said some of the finalists in the challenges would be invited for a Made in Nigeria round-table at the Senate.
Participants in the challenge are expected to shoot a short video of 45 seconds to 3-minutes showcasing their products or services that serve as alternative to imported ones.
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 began to look for alternative sources of revenue generation for the nation.
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 expressed commitment of the Federal Government 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, as well as create an enabling environment for entrepreneurship.
It is set to improve the quality of made in Nigeria goods in order to make them attractive for export into the international market.
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