The Senator Representing Borno South, Ali Ndume has commended the President Bola Tinubu-led administration for banning the importation of foreign goods which have local equivalents.
He said the ban, along side the provision of requisite incentives to local producers, will go a long way in creating jobs, boosting local capacity and production which will eventually boost the economy.
The former Senate Leader said this in a statement in Abuja, on Tuesday.
Ndume said, “It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally.
” This will be a major boost for indigenous businesses amid the slipping Nigerian economy. If implemented faithfully, it will shield our local producers striving to find their feet from being choked out of existence by established foreign investors who flood our market, unhindered, with goods that are cheaper and even substandard.
” With protection of local industries, there will be employment for our employable youths, the measure will also boost our Gross Domestic Product, ( GDP) and the value of Naira will appreciate as their will be less strain on our foreign reserves, since the demand for foreign exchange by importers of such foreign goods would drastically reduce.
The lawmaker also suggested to the Federal Government to “also impose heavy taxes on some of the foreign goods to discourage Nigerians from buying them and pick locally produced items.”
Recall that the Minister of Information and National Orientation, Mohammed Idris, made the on Monday announced the ban while briefing newsmen at the end of the Federal Executive Council meeting, on Monday.
The Federal Government equally placed a caveat on expatriates coming into Nigeria to execute jobs, which local contractors and artisans can undertake, unless there is convincing justification for it, including express permission from the Bureau of Public Procurement (BPP).
Idris who described the decision as a landmark said it was aimed at strengthening Nigeria’s domestic economy and promoting local content.
He also noted that it was in line with sweeping new policy framework tagged the Renewed Hope Nigeria First Policy.
