We’ll encourage local industries to grow economy –Osinbajo

The Federal Government on Thursday said that local industries would be encouraged to grow the Nigerian economy and lead the country out of the current crisis.

To achieve that feat, the government said it had put measures in place to ease the process of doing business in the country.

Vice President Yemi Osinbajo gave the assurance in Jos during the closing ceremony of the Plateau State Micro Small and Medium Enterprises Fair 2017, which was jointly organised by the Small and Medium Enterprises Development Agency of Nigeria, Plateau State Small and Medium Enterprises Development Agency, Bank of Industry and the Industrial Training Fund.

The theme of the fair was: ‘Nationwide MSME clinic for viable enterprises’.

According to Osinbajo, the President Muhammadu Buhari administration is committed to boosting local products, encouraging manufacturers and giving them a conducive environment to flourish.

At the event, Governor Simon Lalong, said the Plateau State Government had concluded arrangements to sign a Memorandum of Understanding with the BoI on a matching fund of N2bn.

“The government will patronise only made in Nigeria goods aimed at giving local manufacturers priority to grow the industry. We have started producing military boots in Nigeria and anytime we want to procure boots for the Nigerian Army, we will first patronise the made in Nigeria boot”, Osinbajo said.

Lalong stated that the state government had also the used the Micro Small and Medium Enterprises template to train over 3,000 women and youths in entrepreneurship, financial literacy and skills acquisition, out of which 48 were people living with disabilities.

The governor said the N2bn would enable the beneficiaries to have access to funds at a subsidised rate for the establishment of their businesses.