Economic recession: Time to look inward for solution

One of the challenges that have tasked the ingenuity of the 8th Senate under the leadership of Senator Bukola Saraki is the plight of Nigerians in the current economic crisis. And as expected, it brought out the best in Dr. Saraki, to the extent that his colleagues nick-named him, “the Ambassador of Made in Nigeria”.

Despite the flood of interest groups paying him courtesy visits way back in 2015 - shortly after he became Senate Presidentand despite the various distractions, he was able to rise to the task as he made the campaign to promote ‘Made in Nigeria’ goods one of his preoccupations both in words and in action.

He was paid visits by the National Economic Summit Group (NESG), Manufacturers Association (MAN), Amalgamated Traders Associations from Southeast and the Innoson Vehicle Motor Manufacturers. This was apart from his canvassing and articulating several economic reforms. In all the visits, he has one sound response: Buy Made-in-Nigeria goods, and support Nigeria-Made goods. In one of such visits, the Senate President, Dr. Bukola Saraki urged Nigerians to patronise Made-in-Nigeria goods in order to develop the economy, emphasising that ‘Senate cannot legislate patriotism’.

To Saraki, this is the only way out of the present economic crisis. To see through his view, the Senate president encouraged and supported the amendment of the Public Procurement Act, where it was stated that since the Ministries, Departments and Agencies (MDAs) are the biggest spenders, that they should be made to first and foremost patronise locally made Nigerian goods before purchasing foreign made goods.

As a precursor to this, the Senate has passed a bill that mandates all MDAs to give first option priority to Nigerian businesses in the procurement process. In the Public Procurement Amendment recently passed by the Senate, Saraki encourages those who have chosen to invest in Nigeria, saying, “as we promote ‘Buy in Nigeria’, we must also promote ‘Made in Nigeria”. The amendment of the Public Procurement Act will also support the implementation of the 2016 budget by slashing the days for processing contracts in half ”. To the Senate President, the Public Procurement Bill is aimed at making the procurement system work on behalf of all Nigerians, support the implementation of the budget, and stimulate the growth of the Nigerian economy by creating more opportunities for small and medium scale business owners. According to the Senate President, “it is our hope that a substantial percentage of the N6 trillion in the 2016 budget will be retained in Nigeria and in the pockets of Nigerians”.

As part of the Senate President’s support for Made in Nigeria goods, Saraki recently stocked his wardrobe with outfits made by Aba tailors. He wore such attires to the plenary sessions of the Senate to the admiration of his colleagues, who in turn started emulating him by adoring their wardrobes with Made in Nigeria attire.

So, it is not surprising that the Nigerian Economic Summit Group (NESG) is thinking alongside with the Saraki-led Senate in the campaign to promote and support Made-in-Nigeria, making it the theme of their 2016 summit. It is nothing but a situation where two great minds think alike and aloud. But, “Made-in-Nigeria” is not just a popular slogan gaining traction. It is a call-to-action for every Nigerian to show their national pride and to invest in their country and in themselves. “Made-inNigeria” is beyond NESG and it is beyond the Senate President. Made-in-Nigeria are three words that hold the power to transform the present and the future of this great nation.