Anas MU’AZU Halliru
Available indices has placed Nigeria as not only the largest economy in Africa, but also the major exporter of oil as it constitutes the large part of the country’s income, Nigeria produces only about 2.7%, of the world’s supply (Saudi Arabia: 12.9% Russia: 12.7%, USA: 8.6%) Nigeria anticipated revenue from petroleum is about $56.2 billion ( 2012 GDP: $451 billion). But now that the price of crude oil has dropped to 30%, Nigeria is left high inflation and a looming recession. Nigeria is a consuming Nation because we import almost everything we consume at home such as clothes, food, electronic appliances from the foreign countries like America, China, France, England which led to major problem slowdown in terms of unemployment, poverty and harship.
For Nigeria to come out of this economic quagmire, it need to diversify her economy from crude oil to Agricultural among others
Penultimate weeks, President Muhammadu Buhari and the Senate president, Bukola Saraki charged Nigerians to go back to agriculture and other profitable local business so as to reduce our dependency on foreign goods. It is therefore imperative to note that Nigeria can only grow its economy if citizens patronize made in Nigeria products.
I therefore subscribed to a statement released by the chief press secretary to Senate President Bukola Saraki, Mr. Sanni Onogu, who stated that patronizing made in Nigeria is one among other good steps toward saving the Nigerian economy. This statement was disclosed when the chief Executive officer of Adic Designs Limited, Mr. Adiele Ekele, presented to him 29 locally made fabrics.
In order to succeed in making made in Nigeria products popular among Nigerians, the our leaders should set up example buy patronizing made in Nigeria products so that the masses will see it practically and emulate. Therefore a call for less import in favour of made in Nigeria products should go beyond the theoretical framework, words should be merged with action if we ever wanted to survived the losing economy recession staring us in the face.
Now that one Dollar is being exchanged for 400 Naira, the highest ever, its hoped that the stakeholders in the economy should see Wisdom and discourage importation of goods into the country because whatever foreign product is imported, the cost will double, and sometimes beyond the reach of the masses.