Local content key to economic stability -Leadership development group

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Initiative for Leadership Development and Change (ILDC) on Saturday said promotion of local content would guarantee self sufficiency and economic stability in Nigeria.

Chief Ugochukwu Nnam, the National Coordinator of the initiative sais this in Abuja.

Nnam said that the production and utilisation of Nigerian made goods and services was capable of eliminating over dependence on importation.

The coordinator called on Nigerians, especially leadership at all levels, to support President Muhammadu Buhari’s policy on local content.

Nnam regretted that over dependence on foreign goods and services was partly responsible for the country’s stunted economic growth.

According to him, this is the time for all of us to stand up to promote our homemade goods no matter the challenges.

He said countries like China achieved economic growth because of its investments in the growth of local content.

He also commended the just concluded 2018 Expo Science and Technology Expo organised by Ministry of Science and Technology.

“When we appreciate and patronise our home made goods, certainly we are boosting our economy and our exports will increase.

“That will also boost our exchange rate hence the economy is made viable,” he explained.

Also speaking, the Deputy National coordinator of the group, Mr Onyekachi Ebere-Njoku, expressed confidence in the ability of the Buhari-led administration to restructure the economy.

Njoku said that the only way out of the over dependence syndrome was to embrace Nigerian made goods.

He noted that Nigeria had made giant strides under the present administration in local content, especially in agriculture.

“Today we can export millions of bags of rice and tubers of yam indicating that the economy is productive unlike before.”

The expo with the theme: “Fast tracking Sustainable Development of Nigeria through Science and Technology“, which, started on March 5 and ended March 9.

Suzan O.