Recession: Don says patronage of local products way out

 

NAN-H-16
Products
Monday Ijeh
Abuja, Oct. 14, 2016 (NAN) Prof. Sule Magaji of the Department of Economics, University of Abuja has called on the Federal Government to strengthen awareness that will encourage Nigerians to patronise local products .

 

Magaji made the call in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

 

He said that patronage of made-in-Nigeria goods would facilitate the country’s recovery from economic recession.

 

He told NAN that dependence on imported products was detrimental to the growth of the economy.

 

The don said that reliance on locally produced commodities had the tendency to generate employment, conserve foreign exchange and revitalise the value of the naira.

 

 

 

He blamed dependence on imported goods in the country on ignorance.

 

Magaji said that local products were not as substandard as many imported commodities.

 

“To change this trend, there must be a kind of awareness for people to know the importance of patronising locally produced goods and services.

 

“We must use all necessary measures –  traditional rulers, religious leaders and all other avenues – to discourage people from patronising foreign goods,” he said.

 

He said that relying on imported goods and services would only help to boost the economy of other countries at the expense of Nigeria. (NAN)

 

IMC/EEM/IGO
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(Edited by Emmanuel Mogbede/Ijeoma Popoola)