The interested parties in the small and medium -sized companies (SME) sector of Nigeria emphasized on Wednesday the need for federal and state governments to create a conducive environment for the products made locally, to improve the economic growth of the nation.
They made this call in a commercial participation forum on Nigerian entrepreneurs and a press conference for the SME Mine Fest 2025, an ambitious meeting of minds, markets and impulse for the future business of Nigeria, was seen in the center of the Chamber of Commerce and Lagos Industry (LCCI), Alausa, Iäja.
The Mine Fest coordinator, Tito Philips and the Co-Concurrente, Mr. Bunmi Kole-Dauda, in their separate directions, urged federal and state governments to implement policies that promote local production. They also asked the Nigerians to change their orientation and actively sponsor local products to help revitalize the economy of the country.
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Philips said that Mine Fest 2025, scheduled for October, is designed not only to celebrate, empower and raise excellence made in Nigeria, but also to show what Nigerians can produce. He added: “We are pushing this to the world; we are also creating a revolution.”
The call pointed out that Nigeria is at a point where there is an urgent need to diversify its economy of excessive oil dependence. He said that investing in the production and consumption of locally manufactured goods would significantly increase SMEs in the emerging global economy.
“The investment in the production of local goods and the consumption of products made in Nigeria will boost SMEs in the emerging global economy.
Nigeria has been found in a situation in which there is an urgent need to diversify its economy of excessive oil dependence. In order for the economy to grow, Nigeria needs more investment in goods produced locally and greater consumption of them, which reduces the dependence of foreign products.
But none of this can be achieved in isolation. We are here today because the construction of the nation is a collective responsibility.
We invite you, investors, policy formulators, corporate leaders, media partners and development agencies, not only to witness this trip, but actively form.
His experience, his platforms and his networks are critical. Together, we can amplify the Nigerian company beyond our borders and in global consciousness, ”he said.
In his comments, Kole-Dauda also emphasized the importance of building trust between producers and consumers to reduce import dependence. He said: “We need to be intentional about it.”
“To reduce import dependence, we must generate trust between those who produce and those who buy. When there is trust and trust, it becomes easier for people to support local products.
It will also encourage producers to meet and maintain high standards, ”he said.
Nigerian tribe