To successfully tackle foreign exchange challenges and improve on the performance of Nigeria’s economy, President Muhammadu Buhari on Tuesday in Lagos reiterated his resolve to empower Small and Meduim Enterprises (SMEs).
Speaking at the annual Tinubu Colloquium, Buhari, who was represented by the minister of interior, Abdulrahman Dambazau, decried a situation where 35 per cent of the country’s foreign exchange earnings is used for the importation of petrol and 20 per cent used on imported food.
According to the President, the Federal Government will do everything to promote the use of made in Nigeria goods as a means of reviving the ailing economy.
The theme of this year’s colloquium, attended by stakeholders from different sectors was held to mark the 65th birthday of Tinubu and titled: “Make it in Nigeria: Use What We Make and Make What we Use”.
The Minister of Trade and Investment, Okechukwu Enelamah, explained that in order to achieve the desired economic growth, the government is building an environment where businesses can thrive.
On her part, the Minister of Finance, Kemi Adeosun, said the country is on its way out of the economic recession, adding that the Federal Government is applying the Lagos template in jumpstarting the economy.
Adeosun said: “The economic template we copied from you (Lagos) is now being implemented for economic recovery of the country and we are not ashamed to say it. The impact of that template is that many of the states are now copying it especially in the area of IGR.”
