Vice President Shettima Calls for Prioritization of Local Content and Made in Nigeria Goods

The Federal Government has partnered with the Nigerian Association of Manufacturers to develop an effective plan and policy framework for the revitalisation of the country’s manufacturing industry.

The Vice President, Senator Kashim Shettima, assured that if the action plan and policy framework are presented, they will be adopted swiftly to bring about the necessary changes that will revitalize the sector.

Vice President Kashim Shettima announced the launch of the three-day National Production Policy Summit.

The Vice President admitted that this sector, which plays a key role in building a state based on production and prosperity, has experienced a series of failures over the past decades.

He called for prioritisation of local products and promotion of products made in Nigeria, noting that Executive Order 003, which mandates the use of locally produced products, is still in force.

The summit is an opportunity to reassess the challenges facing the sector and propose solutions to address them.

The President of the Manufacturers Association of Nigeria, Otunba Francis Meshioye, has commended the administration of President Bola Tinubu and particularly thanked the Vice President for affording him the immense support and cooperation of the President.

Aliko Dangote, chairman of Dangote Group, has openly stated that the recent interest rate hike by the Central Bank of Nigeria to about 30% will hurt local manufacturing businesses.

In his inaugural speech, he stressed the need to ensure reliable energy supplies and affordable financing for industrial development.

Former Finance Minister Olusegun Aganga also appealed to the government to recognise the manufacturing industry as a priority sector for the country.

The Manufacturers Association of Nigeria has also criticised the government’s policies and attitude, saying they are responsible for the poor performance of the manufacturing sector in the country.

The Vice President also assured that President Tinubu’s administration will be committed to supporting economic development and job creation.