L
LequteMan
Guest
Nigeria's Senate President Bukola Saraki has stated that government needs to ensure indigenous manufacturers thrive to rebuild the economy and put Nigerians to work.
He spoke when a delegate from Innoson Motor Manufacturing Company, Nnewi, led by its founder, Innocent Chukwuma, paid him a visit in his office.
Saraki said FG should use legislative actions and policy initiatives to protect the local industries as a deliberate way of reviving the economy.
“That is why this eighth Senate is determined to amend the Procurement Law to ensure that government agencies patronize Made in Nigeria products”, he said.
“I am sure the House of Representatives is in support of this. It is our joint responsibility to ensure that you succeed. If you are successful, a lot more small and medium scale enterprises will draw inspiration from you and they will become successful.
“That will help to create jobs which is one of the mandate presented to us by the youths of this country during the last elections. We in the legislature will look at all laws and help to create an enabling environment for local businesses to thrive in Nigeria”.
He lamented a situation where a company like Innoson only sold about 3,000 vehicles in 2015 when Nigerians bought about a million vehicles annually. If Nigerians patronised Made in Nigeria cars, it would force foreign manufacturers to set up plants in the country, he said.
According to him, using laws to protect locally made goods was not peculiar to the country. He said a similar policy had been followed in the United States under President Herbert Hoover in 1933, while India and China had also enacted similar laws in the past.
Premium Times
He spoke when a delegate from Innoson Motor Manufacturing Company, Nnewi, led by its founder, Innocent Chukwuma, paid him a visit in his office.
Saraki said FG should use legislative actions and policy initiatives to protect the local industries as a deliberate way of reviving the economy.
“That is why this eighth Senate is determined to amend the Procurement Law to ensure that government agencies patronize Made in Nigeria products”, he said.
“I am sure the House of Representatives is in support of this. It is our joint responsibility to ensure that you succeed. If you are successful, a lot more small and medium scale enterprises will draw inspiration from you and they will become successful.
“That will help to create jobs which is one of the mandate presented to us by the youths of this country during the last elections. We in the legislature will look at all laws and help to create an enabling environment for local businesses to thrive in Nigeria”.
He lamented a situation where a company like Innoson only sold about 3,000 vehicles in 2015 when Nigerians bought about a million vehicles annually. If Nigerians patronised Made in Nigeria cars, it would force foreign manufacturers to set up plants in the country, he said.
According to him, using laws to protect locally made goods was not peculiar to the country. He said a similar policy had been followed in the United States under President Herbert Hoover in 1933, while India and China had also enacted similar laws in the past.
Premium Times
