5 benefits of patronising made in Nigeria products
The increasing calls from different quarters for Nigerians to start patronising locally made goods and services should be supported by all and sundry who mean well for Nigeria.
The calls became imminent after the recent free fall of the naira against the dollar,which affected many business concerns in the country.
READ ALSO: Nigeria is now open for business – FG tells investors
On its part, the Central Bank of Nigeria (CBN), made moves to stop the naira’s further devaluation and instead encouraged local manufacturing by banning Nigerian companies buying dollars for a vast variety of foreign goods ranging from glass to oil and tomatoes.
Already, some Nigerian elites are already setting the pace such as Senator Ben Murray-Bruce representing Bayelsa East senatorial constituency in the Nigerian Senate.
Using the hashtag #Buynaijatogrownaira, Bruce has been at the forefront of this campaign and even went a step further to buy an Innoson car, which is produced locally in Nnewi, Anambra state.
Joining the fray also is Senate president, Bukola Saraki was spotted three days ago at the National Assembly adorning a made-in-Nigeria attire few weeks after he joined Senator Enyinnaya Abaribe to attend the Made-In-Aba Trade Fair in Abuja.
Indeed, one of the ways Nigeria can achieve economic prosperity is for Nigerians to identify with Nigerian products; buy them and also make use of local services in Nigeria.
READ ALSO: Restoring Nigeria’s glory: Time to revive Nigerian textile industry
Legit.ng lists 5 benefits of patronisisng made-in-Nigeria goods and services.
Read below:
1. Buying made in Nigeria goods will boost employment generation in the country, as the multiplier effect of patronising local products is the demand of labour.
2. Buying made in Nigeria goods help conserve the nation's foreign reserve and strengthen the naira against the dollar, thereby making the country financially healthy and self-dependent.
3. Buying made in Nigeria goods helps to add value to the Nigerian economy. It is important to note that major prosperous economies of the world boost their small and medium enterprises as a way to soldify their economy. Nigeria must follow suit to succeed economically and secure its place as a regional and global economic power.
4. Buying made in Nigeria goods will boost the nation's Gross Domestic Product (GDP), which is required to be healthy at all times for smooth and economic progression.
5. Buying made in Nigeria goods helps to boost domestic production, thereby encouraging technology transfer and also improve Nigeria's foreign exchange earnings if a vibrant policy is put in place.
Source: Legit.ng
