NAN-HE- 16
Economy
By Lucy Nwachukwu
Abuja, May 12, 2017 (NAN) Mr Asipita Umar, Managing Consultant, National Institute for Policy and Strategic Studies (NIPSS), on Friday advocated the use of local content to foster economic development in the country.
Umar told the News Agency of Nigeria (NAN) in Abuja that, for any country to develop economically, it must be a consumer of what it produced.
He further said that local content should be a critical issue in Nigeria’s economic development, adding that it was important for the country to begin to look inwards.
Umar said, “There is no country, no nation that has ever developed economically without becoming a consumer of what it produces.
“`The best security any nation can have is food security, which means that you are able to feed your people.
“We must ensure that every item in our market and every item we take to our homes for consumption, the local content in such item is not less than 60-90 per cent.
“This will mean that we are consuming what we produce and most importantly, it will give job to our people”.
According to Umar, the increase rate of unemployment in Nigeria was because the country import and consume what other people produce.
‘’When we depend on the produce of other countries, we are indirectly exporting jobs, we are taking away jobs to those people that produce what we import and consume”.
He said Nigerians must encourage local producers by adopting the use of Made-in-Nigeria goods for unemployment to be addressed quickly in the country.
On the Economic Recovery and Growth Plan (ERGP), Umar said the plan was unique, adding that its content encompassed all sectors of the economy.
“For the first time in this country, we are having a plan in which all sectors, all segments of Nigeria made contributions.
“If you take the plan, you will see something practical that relates to every sector that one can interact with, can look up to and participate in.
“This is commendable. We look forward to a successful implementation of the plan, we are optimistic it will lead to economic growth and development of the country.” (NAN)
LCN/BOLA/DUA
Edited by Bola Akingbehin/Dada Ahmed