THE Federal Government, on Tuesday, disclosed that if Nigerians could comply and patronize Made-In-Nigeria (MIN) good by reducing importation by 10.8 percent, the country would be able to save as much as N3 trillion which would later result in massive employment generation of 4.4 million high quality jobs.
Minister of Science of Technology, Dr Ogbonnaya Onu made this known in Abuja while inaugurating the National Consultative Committee for Competitiveness in Raw Materials and Products Development in Nigeria.
He stressed that if the strategy was properly implemented, it would bring many benefit to the country, noting that for the very first time in the history of Nigeria, the country would be in a position to achieve a strategic alliance between and among Nigerian scientists, entrepreneurs/industries and businesses with the resultant production of high-quality and competitive raw materials and products.
According to him, our dear country will then evolve a strong and highly reliable National Quality Infrastructure (NQI) upon which steady development of a demand-driven scientific industrial culture will develop and thrive.
“This will result in an increasing acceptability of Made-in-Nigeria (MIN) products and services both locally and internationally. As this happens, we will gradually achieve a tremendous curtailment in our high propensity to consume foreign raw materials and products.
“I am happy that when we achieve this new culture of consumer preferences, it will result in a significant reduction in importation. In the short-term period of five years implementation effort, by reducing importation by 10.8 percent, we will be able to save as much as N3 trillion.
“The reduction in importation is expected to rise to 31 percent and later 50 percent respectively in the mid-term of ten years and long-term of 15 years. I am confident that this will surely boost our foreign exchange earnings and further strengthen our foreign reserves. It is important to point out that the ability to boost local content of Nigerian manufacturers and service providers to over 50 percent in the short-term and about 80 percent in the long-term will result in massive employment generation of 4.4 million high quality jobs from the 22 project areas”, he added.
The minister therefore urged the committee members to ensure effective coordination of projects and programmes in such a way to ensure that agency’s mandate, as it affects the strategy was effectively implemented.
In her opening remarks, the Permanent Secretary of the ministry, Mrs Wakama Belama also urged the committee to put in all their best in this national assignment as it expected to give direction and guidance towards achieving competitive advantage, a process which must include the involvement of the key stakeholders in both public and private sectors.
Earlier, the Director General/Chief Executive of the Raw Materials Research and Development Council, Dr Hussaini Doko Ibrahim stressed the need for the committee is based on the recognition that once a strategy and a set of policies have been formulated, the focus of strategies management shifts to implementation.
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