Patronising Local Products, A Strategy To Strengthen The Naira, By Mike Yawe -ED WABMA

Patronising Local Products, A Strategy To Strengthen The Naira

Patriotism is a feeling of love, devotion, and support for one’s country, in other words, a person who loves his or her country and is willing to do anything for it is described a patriot.

In a normal circumstance, every citizen has to be patriotic but the reverse seems to be the case in Nigeria, especially in patronizing local products.

Nigerians must therefore realize that for every made in Nigeria product they patronize, they automatically increase the demand for goods and boost employment.

In simple terms, when Nigerians import goods, they import poverty and export jobs to where such goods are produced.

A popular business slogan says “reach for the stars so that if you fail, you will at least catch the moon”.

Thus, a local product with a global appeal can make a big difference as competition is healthy for businesses.

The “Andrew no check out” song of the early 90s was a deliberate attempt by Government to strengthen the resolve of Nigerians to be patriotic and stay in their country rather than migrating to foreign countries as a result of economic hardship.

To encourage the patronization of the country’s products, there is the need to overhaul the nation’s importation policy with the federal government banning products Nigeria has comparable advantage of.

For instance, to promote the local textile industries, it is strongly recommended that the President and members of the Federal Executive Council should wear only local fabrics to FEC meetings.

This should be replicated at the state level.

Also the National and all state houses of Assembly should designate days known as “made in Nigeria day” to wear only Made in Nigeria fabrics.

Same should be applied at the local government level.

Infact, a step should be taken further to ensure that local fabrics are worn by government officials on democracy day.

The President, Ministers, National assembly members must all acquire telephone lines from telecom companies owned by Nigerians.

All Government officials on International flights must also use local airlines except routes not plied by them .

It is pertinent to state here that all official cars by Ministries, Departments and Agencies at the Federal, State and Local Government levels should be purchased from Local Manufacturers.

Afterall, Military administrators and Governors in the past used Peugeot 504 as official cars assembled in Nigeria.

Local rice should be served at all state functions and beverages consumed at such events should be made in Nigeria.

By so doing, the campaign of “eat what you grow and grow what you eat” would be exponentially boosted if it starts from leaders at all levels.

It is time the Government seeks partnership with manufacturing firms of huge imported items like phones, generators, fridges and Television sets to establish plants in Nigeria.

To save the Naira, the federal and state governments should stop foreign conferences and seminars.

If possible, they can bring the resource persons to Nigeria to deliver their lectures.

The demand for payment of rents in dollars and other services instead of the Naira, should be stopped forthwith.

Medical tourism by Government officials should also be stopped except under very critical and dire situations.

Public officials should be banned from sending their children abroad for further studies, this will put pressure to improve the country’s educational system and preserve the scarce foreign exchange.

Above all, propounding transparent economic policies and strong governance is a key stabilizer to deliberately patronize the country’s local products and thereby strengthen the Naira.

Written by Mike Yawe, Executive Director Business Development WABMA.