*Says it’ll reduce pressure on FOREX demand

By Victor Ahiuma-Young

The Nigeria Employers’ Consultative Association, NECA, has commended Monday’s Federal Government announcement of a Made-in-Nigeria procurement policy aimed at boosting local production and stimulating the economy.

Speaking in Lagos, the Director-General and Chief Executive of the Association, Mr. Adewale-Smatt Oyerinde, described the policy as “a great move” and “a strategic economic imperative” that NECA has long advocated.

He said “Over the past few years, we have urged the Government to prioritize the patronage of made-in-Nigeria goods. This will not only promote local production but will also fundamentally reduce pressure on FOREX demand, stimulate local industrial growth, and facilitate job creation and preservation, among other benefits.

“We commend the Government for this initiative and urge its thorough implementation. Without effective enforcement across all Ministries, Departments, and Agencies, the policy could suffer the fate of many before it.”