Nigerian government to encourage value addition to local products

The Delta Association of Chambers of Commerce, Industry, Mines and Agriculture (DACCIMA), has urged the Federal Government to encourage value addition to local products meant for exportation.

Mr Simon Asite, its President, told reporters  in Warri that such step would help our local products to access international market, address the foreign exchange deficit and by implication shore up the value of the naira.

He also urged government to ensure that the various agencies saddled with the responsibility of enforcing standards lived up to their mandate so that local products could be packaged to meet international standard.

“It is not just enough to diversify the economy, but to create a platform, begin to look inward to develop and ensure values are added to our local products.”

“So, government should try and create value chain for our products and package them to meet international standard.”

“It will help improve our economy, boost foreign exchange and also create jobs,” he said.

The entrepreneur commended the Federal Government for taking bold steps to diversify sources of foreign exchange to the country that had been long over due.

“A country that operates a mono-product economy can easily run into hitches when the source of revenue begins to depreciate or lose value at the global market,” he said.

The DACCIMA boss urged the government to ensure that the diversification policy was fully implemented to save the country from over dependence on crude oil.

Asite also appealed to the Federal Government to provide stable electricity to boost local manufacturing and also encourage growth of the small and medium scale businesses.

He described stable electricity as the main driver of major economies in the world.