Low Patronage Of Local Goods: ‘MDAs Stifling Manufacturers’ Efforts In Business’

The founder and chief executive officer of the Erisco foods processing limited, Chief Eric Odinaka Umeofia, has hinted that, despite the good intentions of President Muhammadu Buhari in revitalising local manufacturers and infant companies to boost GDP and stimulate economic growth, the Ministries, Department and Agencies (MDAs) are frustrating the activities of manufacturers in the country.

Erisco boss, who spoke at the sidelines of unveiling of the company’s new products in Lagos, stated that, he has remained in business for the sake of passion, noting that, Nigerians must be encouraged to produce what we eat and what we produce if the economy must grow.

Chief Umeofia stated that, the wrong actions of MDAs is killing local and indigenous business in the country but added that, if this is left unchecked, local industries will divest from the country while urging MDAs to support local manufacturers in the country.

He advised the CBN, NAFDAC, customs and the Standards Organisation of Nigeria (SON) to support local manufacturers by encouraging made in Nigeria goods to strengthen the Naira to grow.

He stressed that Erisco Foods is poised to grow the Nigerian economy with the launching of eleven new products into the Nigeria market to showcase great consumption, sustainability and affordability for consumers.

RELATED

BetKing Promotes Social Impact At NSF

9 hours ago

Oxfam Urges Nigerians To Embrace Responsible Plastic Use

9 hours ago

This, he said, fueled his aspiration to become a good general providing food to defend the territorial integrity of the country.

Continuing, he averred that Nigerians are the problem of this country, adding that, MDAs are not supporting manufacturers because all banned foreign foods can still be found in Nigeria markets which is very discouraging to local manufacturers.

Chief Umeofia lamented non-availability of forex which, he said, had made local investors to lose over 40 per cent of investment capital to exchange rate.

Speaking earlier, chairman Erisco Foods Ltd, Alhaji Abubakar Al Basu commended the efforts of Chief Eric Umeofia in the areas of investment in the country while, stating that, the company will help to revitalise the nations economy in terms of employment and availability of food supply.