FG moves to boost economy through made-in-Nigeria products, services campaign

...Ekiti attracts $100m investments

Having resolved to boost the economy and reduce foreign trade deficits that the nation records annually, the Federal Government has launched an aggressive campaign for the patronage and use of made-in Nigeria products and services.

BusinessDay reports that the launch of a dedicated campaign for the patronage and use of made-in-Nigeria products and services was unveiled at the 13th National Council of Industry, Trade and Investment and meant to reposition the nation’s economy, in addition, to already established Federal Government’s Economic Recovery and Growth Plan (ERGP) as well as the Strategy and National Economic Sustainability Programme (NESP).

Speaking in Ado-Ekiti, the state capital at the flag-off of sensitization campaign for patronage and support for made-in Nigeria products and services on Thursday, Adeniyi Adebayo, Minister of Industry, Trade and Investment, noted that patronage of locally -made products and services would create more jobs, promote indigenous product, reduce poverty and also boost Micro, Small and Medium Enterprise, MSMEs across the country.

The former Ekiti state governor stated that several policies and programmes had been put in place by the Government through the Federal Ministry, ” to reposition MSMEs as the engine room for wealth creation, economic transformation and development in the country.”

Adebayo added, “The development of MSMEs is critical to us as a government because of its place in the economy and we will not relent in our efforts towards the growth of MSMEs.

” I am flagging off the use, support and patronize for Made-in Nigeria products and services by the people for us to grow the economy and generate more employment opportunities for the people.”

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Also, Governor Kayode Fayemi of Ekiti states commended the Federal Government for its investment into the development of MSMEs and for collaborating with states to provide solutions that deepen access to the financial market and resources.

Governor Fayemi explained that aside from creating enabling environment for MSMEs to thrive in Ekiti, his administration in the last three years, through a collaborative multi-agency approach had attracted about $100 million investments in agriculture, technology and infrastructure to the state.

He disclosed that his administration had also introduced the use of technology to drive MSMEs in the State through the introduction of automated tax payment, business premises registration and other significant economic activities in the state.

According to him, “We also invested in several lending programmes to complement the work being done by the Federal Government. Our Micro Finance and Enterprise Development Agency has facilitated loans to over 4,000 entrepreneurs in the State, with a commitment to do much more next year.

“This Government has awarded over 50,000 hectares of land for agriculture and agri-business opportunities, and our Special Agro-Industrial Processing Zone will be a platform to improve agricultural productivity, as well as a major driver of job creation.

“Finally, the development of Ekiti Knowledge Zone will ensure that Ekiti is a hub for technology businesses in Nigeria. We have started the processing of developing a bankable feasibility study for the zone and selecting a core investor for the project.

“When this is done, we will approach the Nigeria Export Processing Zone Authority (NEPZA) to confer Special Economic Zone (SEZ) status on the Zone. On our part, no stone will be left unturned in our quest to develop MSMEs, who remain the engine of our economic growth.”

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