The Manufacturers Association of Nigeria (MAN) has praised the Federal Government for its ‘Nigeria First’ policy initiative, which highlights the critical need to support locally produced goods and services while promoting local content development through the transfer of vital technical expertise to Nigerian professionals.
Mr. Segun Ajayi-Kadir, the Director General of MAN, stated that this initiative represents a significant and positive advancement. He referred to it as encouraging news and a long-awaited relief for the resilient Nigerian manufacturers who, despite facing tough economic challenges, have steadfastly believed in the potential for prosperity within the Nigerian economy. ‘
This initiative is a true reflection of the government’s commitment to strengthening local industries, boosting economic growth, and creating job opportunities for Nigerians. By focusing on locally manufactured goods and services, we can stimulate demand, enhance capacity utilization, and attract investments into the manufacturing sector.
MAN is optimistic that this policy will trigger a positive ripple effect across the economy, leading to increased economic activity, improved Gross Domestic Product (GDP) growth, and enhanced competitiveness for Nigerian industries,’ he remarked.
Speaking further, he pointed out that past surveys suggest that the effective implementation of such an initiative, as detailed in the upcoming executive order, could raise investments and potentially boost GDP by 56 percent, reduce unemployment by 37 percent, and improve firms’ willingness to employ from 1.5 percent to 22.6 percent.
Ajayi-Kadir emphasized the importance of collaboration among all levels of government, private sector players, and individuals to wholeheartedly back this initiative by focusing on Nigerian-made products and services
He pointed out the critical role of uniformed government agencies and institutions, including the military, police, the legislature, and notably, the Presidency. It is vital that all government contracts focus on utilizing domestically sourced materials. He called on the government to collaborate with manufacturers to create a strategic plan for effective and efficient execution, emphasizing that this new directive is long overdue. As the largest consumer, the government should lead by example.
This strategy will undoubtedly send positive signals and bolster consumer confidence in Nigerian-made products. As the foremost organization representing manufacturers in Nigeria, we look forward to partnering with the federal government, various levels of government, their agencies, and private sector partners to bring the Nigeria First initiative to fruition.
I would say the President has made it clear that it’s time to start unlocking the full potential of our economy. Let’s commit to making the best use of our natural resources and focus on using what we produce ourselves, which will help us boost our output. By doing this, we can build a vibrant, diverse, and inclusive economy that benefits all Nigerians, he said.
