The Vice President, Senator Kashim Shettima has said that Executive Order 003 which makes the patronage of locally manufactured products mandatory is still in effect.
The Vice President declaring open a three-day National Manufacturing Policy Summit at the Banquet Hall of the Presidential Villa, Abuja on Tuesday, lamented Nigeria’s overdependence on importation, as he called for the prioritization of local content and promotion of made-in-Nigeria products.
VP Shettima also disclosed the administration’s resolve to partner with the Manufacturers Association of Nigeria (MAN) to come up with an actionable roadmap and policy framework that would refurbish the nation’s manufacturing sector.
The Vice President who noted regulatory hurdles, power and infrastructural problems amongst others, assured that all hands are on deck to ensure ease of doing business in Nigeria.
Our Correspondent, Raliat Adenekan reports that President of MAN, Otunba Francis Meshioye, said the summit was organized to probe the numerous constraints affecting the viability of the industrial sector and to think and agree with the government on what to do to address them.
Also, Chairman of the Dangote Group, Aliko Dangote, stressed the importance of reducing import dependence, stating that “import dependence is equivalent to importing poverty and exporting jobs.” The business mogul advocated a circular economy model, where economic activities remain within the country, benefiting all sectors of society.
Also, former Minister of Finance, Olusegun Aganga, urged the government to declare manufacturing a national priority sector.
He pointed out that the mere possession of natural resources does not guarantee national wealth. “What makes a country rich is what it does with its resources,” Aganga said, calling for a shift from peasant farming to commercial agriculture and from artisanal mining to attracting major miners.
Aganga also recommended eliminating excessive customs duties, levies, and overlapping regulatory mandates to boost the manufacturing sector.
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