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Local patronage, the escape from recession-buhari

Local patronage, the escape from recession-buhari


The president of Nigeria Muhammadu Buhari says his greatest desire is to guide Nigeria into becoming an export based economy.

He made this remark on Monday at the 22nd Nigerian summit in Abuja, urging Nigerians to develop interest in indigenous products.

In accordance to his remark, there is no way we can achieve this without building the right economic foundation of patronizing our own products.

In the voice of the President,”My desire is that Nigeria moves from depending on imported goods to self sufficiency in local productions, becoming an export-led economy in goods and services “he said.

“Nigeria really has to diversify its economy so that we will not have to rely on another country to survive; we could produce our food, our textiles and other things we use, also creating the right environment for the young people to be able to benefit and create job through technology”.

According to President Buhari, who lauded the theme of the summit, ‘made-in-Nigeria’ “This theme continues to be a priority to the government and has been part of the many efforts made by the administration, to lay a solid foundation for the future” he clearly stated.

The minister of Budget and national planning, Senator Udoma Udo Udoma added that the summit would allow dialogue for both the private and public sector, since the public sector is beginning to accept the private sector as true partners in the development of Nigeria.

According to Senator Udoma, the government was already implementing policies focused at getting rid of the current economic recession.

In Udoma’s words, “Already, our focus is on agriculture which is beginning to yield fruit. This is an indication that there is a large growth upcoming in this third quarter.

“Even after we get out of recession, we would hold on to the implementation of our strategic implementation plan, which was launched by the government when the 2016 budget was signed into law.

“This plan will restructure our economy to the path of sustainable development as the SIP is anchored on the commitment of this administration to create a largely diversified, sustainable and inclusive economy that releases the latent potential of the Nigerian people, communities and natural resources endowment across the nation’s federating states”. He added.

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