Africa’s main industrialist, Aliko Dangote has made a passionate plea to the Federal Government to urgently legislate and implement the proposed “Nigeria First” Policy, describing it as a essential lever for revitalizing the nation’s manufacturing sector.
The laws, in response to him, holds the keys to accelerating the nation’s {economic} progress and creating sustainable employment alternatives.
Addressing producers in Lagos on the 53rd Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), Dangote lauded the theme of this 12 months’s gathering “Nigeria First: Prioritizing Made-in-Nigeria” saying it’s well timed and a strategic name to motion.
“The ‘Nigeria First’ Policy is not just a slogan but a call to action for sustained development and transformation led by our manufacturers,” Dangote acknowledged. “If implemented effectively, it can boost GDP, reduce import dependence, and generate jobs across the country”, Dangote expenses
He emphasised that the coverage represents a transformative framework able to propelling Nigeria towards industrial self-sufficiency and world competitiveness. Drawing parallels with world {economic} powerhouses resembling China, India, and the United States, Dangote underscored the significance of adopting a domestically tailor-made industrial coverage to guard and promote home industries.
Despite Nigeria’s huge potential, Dangote expressed concern that manufacturing contributes lower than 10 % to the nation’s Gross Domestic Product (GDP), a determine that has stagnated for over a decade. He attributed this to persistent structural challenges, together with insufficient infrastructure, coverage inconsistency, excessive power prices, international change volatility, and restricted entry to finance.
To tackle these challenges, Dangote outlined some strategic priorities that producers anticipate from the Nigeria First framework amongst which is: to legislate the Nigeria First Policy by enacting it into legislation with enforceable compliance mechanisms; Ensure Policy Stability and Long-Term Commitment – Avoiding coverage reversals to foster investor confidence; Develop a National Supplier Registry–Creating a verified database of native producers for presidency procurement; Drive Consumer Engagement and National Pride–Launch a sturdy “Buy Made in Nigeria” marketing campaign and Incentivise Backward Integration-to help corporations investing in native uncooked supplies and Research and Development.
As a part of the technique, Dangote additionally urged the federal government to deal with Infrastructure and Energy Deficits by bettering entry to inexpensive energy and environment friendly logistics; Enhance Access to Finance by reducing rates of interest and broaden funding for manufacturing enterprises and Leverage AfCFTA Opportunities by strengthening export capability to spice up regional competitiveness.
The Industrialist additionally cited the collapse of Nigeria’s once-thriving textile business which employed over 500,000 folks throughout 180 mills at its peak as a cautionary story of the hazards of unchecked importation and weak coverage help.
He confused that the Nigeria First Policy should transcend political cycles and rhetoric to grow to be a binding nationwide technique. “Every nation is in a race to improve the living conditions of its citizens. The government has taken some steps that give us a fighting chance. The Nigeria First policy, if embraced, will place us in a very competitive position. Let’s act,” he urged.
The 53rd MAN AGM introduced collectively business leaders, policymakers, and growth companions to chart a path for revitalizing Nigeria’s manufacturing sector and positioning it for long-term, inclusive progress.
