Monday 25th September, 2017
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FG laments N6.9trn 'wasted' on imports

FG laments N6.9trn 'wasted' on imports

The Federal Government has lamented the over N6.7 trillion expended in 2015 alone on the impor­tations of goods and services that can easily be produced in the country.
 
The Minister of State for In­dustry, Trade and Investment, Aisha Abubakar, made this known in Abuja on Thursday during the launch of the cam­paign for patronage of Made-in-Nigeria products.
 
She said: “In 2015 alone, over N6.7 trillion was spent on the importation of goods and services for which the nation can produce locally.
 
“N1.09 trillion was reported­ly spent on imported foods and drinks; N1.5 trillion on spare parts; N123.01 billion on shoes and clothes and N399 billion on household items. Imagine if this had been spent on our local industries.”
 
Speaking further, the min­ister said government was not unaware of the numerous chal­lenges faced by entrepreneurs, adding that several policies to restrict importation of prod­ucts that can be produced in Nigeria have been put in place.
 
On his part, Minister of In­dustry, Trade and Investment, Dr Okechukwu Enelamah, re­stated the commitment of the present administration to re­duce the cost of doing busi­ness in the country.
 
According to Enelamah, pri­ority is now given to locally-made products in all procure­ment being made in the public sector, adding that “this Made-in-Nigeria campaign is for real.”
 
Also speaking during the launch of the campaign, Min­ister of Information and Cul­ture, Mr Lai Mohammed, said the move to encourage the con­sumption of Made-in-Nigeria products was in line with the efforts to diversify the econo­my.

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