Nearly twenty years ago, I found myself exploring a few shops in St. Augustine, USA, with a few friends. As we browsed through the aisles, we came across socks, shirts, trousers, and jackets bearing tags from Vietnam, Sri Lanka, Bangladesh, Ghana, and India, among others. Curiosity piqued, and I asked one of the store clerks, “Where are the ‘Made in Nigeria’ labels?” To my dismay, there were none to be found. I left the store feeling pangs of disappointment.
I recently had the opportunity to attend a maritime conference abroad, and knowing my love for evening walks, I decided to pick up a new pair of sports shoes for the trip. One evening, while out for a stroll with my friend Mohammed Khalim from Kuwait, he couldn’t help but notice my stylish new kicks.
“Where did you get those shoes?” he asked, clearly intrigued.
With a grin, I replied, “Oh, I picked them up in Lagos, Nigeria.”
Mohammed chuckled, thinking I was pulling his leg. “You must be joking,” he said, still laughing.
But I wasn’t kidding. I went on to explain that I had found the perfect pair at a charming little shop nestled in Tinubu Square, Lagos. His surprise was evident, and it made for a delightful conversation as we continued our walk.
When the conference wrapped up, Mohammed surprised me with a thoughtful gift from Kuwait. In return, he asked if I could get him the same pair of sports shoes when I returned to Nigeria. I happily promised him I would. Once back home, I made sure to buy a pair of those shoes and sent them off to him. A few weeks later, I received a heartfelt message from Mohammed. His letter of appreciation began with the words, “Surprisingly, it’s made in Nigeria.” The title of this article, inspired by a friend from far away in Kuwait, highlights a remarkable fact: these shoes were crafted in Aba, Nigeria.
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Perhaps my friend doubted that Nigeria could produce a sports shoe as impressive as the one I wore throughout my stay abroad. But I proved him wrong when I sent him the exact same type of shoe. As we anticipate a decrease in our inflation rate and an increase in foreign exchange supply, the most effective strategy is to embrace local manufacturing. In essence, we should make the production of goods and services a fundamental aspect of our national interest.
“His surprise was evident, and it made for a delightful conversation as we continued our walk.”
My encounter with Mohammed reminded me of a comedy movie I had watched about 25 years ago titled The Princess and the Pirate. The Princess and the Pirate is about a princess who travels with her true love using false information instead of marrying the man to whom she is betrothed. On the high seas, her ship was attacked by pirates who planned to kidnap her and hold her for ransom. In one of the scenes, an American, Bob Hope, who starred in the film, tried to shoot his opponents, but the gun was jammed. He looked at the trademark and shouted angrily, No wonder it was made in Japan, and threw the gun overboard. He then used an American-made weapon to conclude his business.
“Made in Japan” is today the hallmark of the quality and extent of Japan’s success in fighting racism using economic progress, which is reflected in the fact that if the above movie were to be made again, the same producer would not ridicule Japan in such a manner. The Japanese knew more than any other race in history that the fight against racism was an integral part of the struggle for economic development.
We have Made in India, which I was reliably informed is an “initiative of the Government of India launched in 2014 to create and encourage companies to develop, manufacture, and assemble products in India and incentivise dedicated investments into manufacturing.” Simply put, Made in India is to boost domestic manufacturing and augment investment into the country.
Why Made in Nigeria?
The “made in Nigeria” concept focuses on developing domestic manufacturing capacity and capabilities while promoting locally made products. This approach will ultimately make Nigeria self-reliant and reduce its dependence on foreign goods. But we need to attract foreign direct investors (FDIs) to fill the gap in investment by unwilling Nigerians in the business and public sectors who have lost trust and confidence in dealing with national and sub-national governments.
Monthly, economic experts, analysts, and business leaders eagerly anticipate the latest statistics from the National Bureau of Statistics (NBS). Following this, the Central Bank of Nigeria (CBN) convenes its Monetary Policy Committee meetings. For those of us who aren’t economists, we depend on the insightful analyses provided by these institutions. It’s always fascinating to see media organisations showcasing various economic figures. However, for most Nigerians, the key points of interest are the current inflation rate and the CBN’s monetary policy ratio.
One must commend the efforts of many of our economists who have applied all known theories to revive Nigeria’s economy. Nigeria, like many African countries, has had an overdose of textbook economics, which advocates economic development based purely on monetary and fiscal policies. But we have deliberately ignored technology as the primary means of sustainable development.
Nigeria has far too long believed that our economic survival lies in the theoretical manipulations of intangibles such as exchange rate, interest rate, etc. as opposed to the practical production of tangibles. In fact, an emeritus professor of economics once told me that “Nigeria has over-concentrated on the theoretical aspects of economics and occasionally got carried away with Adam Smith’s philosophies in his book Wealth of Nations, which are more than 300 years old, that we forget the practical aspect of economics, which is production.
This article serves as a strategic call to action, reflecting our nation’s aspirations to enhance both the economy and the quality of life for our citizens. To boost our GDP growth rate, we must embrace production and elevate productivity across both the oil and non-oil sectors of the economy. However, several obstacles stand in our way. We need to tackle these challenges head-on by increasing the supply of electricity and fuel to our manufacturers. We need men and women of honour in strategic positions who are loyal and honest to Nigeria.
To alleviate poverty in Nigeria, it’s crucial that energy sources are made affordable for the population. Aliko Dangote, Africa’s wealthiest businessman, highlighted this at the opening of the three-day national manufacturing policy summit recently organised by the Manufacturers’ Association of Nigeria. He stated, “No one can create jobs with an interest rate of 30 percent. Without power, there is no prosperity; without affordable financing, there is no growth.” These pressing issues must be tackled to bring true prosperity to the people. Mere promises are not enough to achieve this goal.
In today’s world, numerous governments around the globe are pouring substantial resources into bolstering their national technological prowess. These nations view technological innovation as a powerful tool to escape the grips of economic recessions, boost their international competitiveness, fuel economic growth, and create job opportunities. Indeed, any government that genuinely cares about the security and well-being of its citizens should prioritise these efforts. Thank you!
MA Johnson, Rear Admiral (Rtd)
