Dwindling economy: Senate calls for patronage of made in Nigeria goods

 “I want to commend the Senate President and his Deputy, Ike Ekweremadu for purchasing made in Nigeria cars recently. It shows that they believe in them and to me, this is a good way to start; they are already living by example” - Senator Ben Bruce.

Nigeria Senate on Wednesday urged the federal government to initiate and implement what it called ‘First Option Policy’ on purchase of locally manufactured goods.

It said such policy would boost the economy as was the case in 1960s and 70s when local manufacturing companies were doing well.

The decision followed a motion sponsored by Senator Eyinnaya Abaribe (PDP), Abia South Senatorial District, who declared that the Nigerian economy was irrevocably going down and in serious deficit as a result of over dependence on foreign goods, which he said had suffocated local industries out of existence.

 “Today, Nigeria consumes what it does not produce and the resultant effect has been a negative balance of trade, the shutting down of Textile companies, battery, wood processing, cocoa and oil palm companies”, he averred.

In his motion, Abaribe recalled that in 1990, Nigeria Textile Industries could employ between 2000 and 10,000 workers each, but that the situation had been reversed due to dearth of local industries, a situation he said should be looked into by the Senate.

In his contribution, Ben Murray Bruce commended the Senate President, Bukola Saraki and his Deputy, Ike Ekweremadu for purchasing locally made cars.

He said their patronage of made in Nigeria goods would encourage others.

 “I want to commend the Senate President and his Deputy, Ike Ekweremadu for purchasing made in Nigeria cars recently. It shows that they believe in them and to me, this is a good way to start; they are already living by example”, Bruce posited.

According to Bruce, budgets for purchase of official vehicles this year should be spent in purchase of made in Nigeria cars so that automotive industry could thrive, thereby reducing capital flight.

“I want to say again that all government official vehicles to be purchased from this year’s budget should be from locally-made so that local manufacturers of vehicles can be encouraged”, he added.

Meanwhile, it was resolved as part of prayers that both Chambers should amend Public Procurement Act to ensure as a matter of law, that agencies of government and government funded Institutions adopt made in Nigeria goods, a policy that has grown economies of other countries.