Achieving sustainable development

IN the early 70s, locally manufactured products thrived in the market and were well accepted by Nigerians. Then, the British pound sterling had an equal value with the Nigerian naira. This was possible because few foreign goods were imported, as made-in-Nigeria products were more acceptable to consumers.  Also, several local companies thrived in the country as they were sure that their goods would be patronised. However, things began to change in the 1980s, as the policy of the government and attitude of Nigerians went against products manufactured in the country.  This led to the collapse of several industries, including Berec Batteries, Exide Batteries, Summer Foods, Steel Rolling Mill, among other companies. It can be said that the collapse of these industries resulted into a setback for the country’s development.  Now, with several companies collapsing, the country needed to import goods that these companies were producing before their folding up. As a result, the naira was burdened, while foreign currencies began increasing in value, while the naira diminishes. This situation also contributed to the high unemployment rate in the country.

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However, in order to revive the economy, the Federal Government introduced several economic measures, including the Structural Adjustment Programmer (SAP), among other measures, but the current effort being embarked upon by the Nigeria Export Promotion Council (NEPC) and other organizations to diversify the Nigerian economy is definitely the best bet to lift our economy out of the doldrums. Considering the current economic reality of the country, occasioned by the dwindling price of oil in the global market, there is no better time than now to promote other sectors of the economy as a way of salvaging our nation’s ailing economy. If we are really serious about economic diversification, one vital approach would be to focus on agriculture and tourism.  Nigerians should also embrace products produced locally, no matter the quality compared to foreign-made goods. This will help reduce the burden on the naira. We also need to encourage the development of local industries to produce products locally.

Our over reliance on crude oil as the country’s primary export commodity and foreign exchange earner has, no doubt, worsened the situation of local industries and created huge unemployment in the country. It is encouraging to note that the Federal Government is currently working on plans to promote the production and consumption of locally-made goods.  Undoubtedly, this is a sensible thing to do. Aside providing solution to the unemployment problem in the country, encouraging the production and consumption of local products could usher us into the path of the much desired economic prosperity. This is definitely the secret behind the rising profiles of the prosperous Asia tigers. Our ability to achieve similar feat will depend on our capacity to harness human and material resources towards the promotion of Made-in Nigeria goods that can compete in both local and international markets.

Sustainable development would guarantee jobs, save the economy and advance the standard of living.  Fortunately, we have an amazing advantage in our size. With a population that is put at over 180 million, Nigeria is home to about one in five Africans. Our population is, therefore, our major source of strength and it behooves on us as a nation to leverage on this factor to promote the Nigerian brand, in terms of product and services as this remains the only means through which sustainable employment and development can be guaranteed.  Nigeria is in a position to play a strong continental and global role because of her huge population of energetic, educated and entrepreneurial people, as well as from abundance of natural resources. For local industries and local goods to enjoy sufficient patronage from local consumers, there is need for the National Assembly to come up with a local patronage bill that would ensure that Made in Nigeria goods and local producers are protected.

It is a thing of serious concern that the production capacity of local industries can neither suit local consumption nor export. A situation where Nigeria depends on imported goods should not be regarded as a parochial scheme. Rather, it should be viewed as a call for a nationwide partnership to develop the kind of collective commerce pattern that would have a positive hearing on national development. It has the potential to enhance the utility of goods as products and consequent services for the specific orientation and cultural needs of the Nigerian people. There is need for holistic overhaul of our importation policy to discourage items that can be locally manufactured. One should actually be in support of plans by the Federal Government to discourage the importation of certain items that the country has the potential of producing locally.

We need to embrace attitudinal, structural, and cultural change that would enable major stakeholders to modify their outlook towards made in Nigeria goods. In our drive towards a varied and dependable economy, it is vital that we build internal structure that will establish it as an independent commercial hub wherein our position will be strengthened in the course of international collaboration and other negotiations power leverage by a culture of home-grown expertise. Certainly, made in Nigeria goods will boost the nation’s manufacturing sector and by extension create more jobs. It is through this that indigenous firm can take advantage of bigger markets at regional, continental and global levels. It is important for the country to appreciate its fundamental dynamics by making policies that will ensure sustainable development. Advocating and supporting made in Nigeria goods is a sure way to turn around our dwindling economy fortune.Nigerians should encourage indigenous entrepreneurs by patronising locally-produced goods and services. It is only in doing this that we could develop and transform local industries. There is no country that has managed to transform without adequate industrial growth, or wholesome dependent on imported goods.

• Ademola writes in from Ile-Ife, Osun State