Sowing the seeds of today for tomorrow’s future.
“I’m an incurable optimist when it comes to Nigeria’s prosperity, because not many countries are as blessed as Nigeria is with the mixture of ingredients for development – highly talented manpower, huge market, and sea access,” grinned Alhaji Kabiru Rabiu, Group Executive Diretor of BUA.
With proximities to the biggest economy in the world plus their own and neighbouring countries’ markets, Nigeria has not even reached half of its full potential. While most economists will say that oil or tech services are the nation’s biggest resource, they would be wrong. Human capital, in terms of resources, manpower, and the market, is Nigeria’s greatest resource.
While the entrepreneurial spirit is currently thriving in Nigeria, a renewed emphasis on local manufacturing has emerged that presents interesting opportunities to foreign investors. Nigeria currently spends vast sums importing rice, wheat, and sugar and to counteract this, President Buhari’s government is offering competitive incentives for local milling, processing, and production.
However, “the government cannot do it alone,” said BUA’s Rabiu, “It has to be done together in consult with the private sector. We believe that, strategically, we are strongly positioned to be able to take advantage of such.” As Nigeria looks inwards in terms of food production, its private sector is adopting innovative strategies to produce in the most efficient manner to help reduce its imports from other countries.
The ‘Made in Nigeria’ campaign aims to encourage diversification away from the environment of low priced crude oil and it may turn out to be a blessing in disguise. While Nigeria’s economic potential is usually associated with big business and industries of oil and cement, this campaign assists in re-purposing the pride and motivation that the SMEs, the backbone of the nation, take in their work. For these business owners, they see this moment as an opportunity to create fundamental change for their people.
Vice President Professor Osinbajo says, “We want Nigeria to represent a model emerging economy, and the first place investors look to as a choice for investment. That is our overarching aim.” Ultimately, the ‘Made in Nigeria’ campaign will reunite the Nigerian people with their land, ignite their entrepreneurial spirit, and allow the world a chance to experience the vast beauty that encompasses the Giant of Africa.