BREAKING NEWS, Business
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MUHAMMAD Sanisu II, emir of Kano, at the weekend expressed concern on Nigeria’s seeming lack of willingness to patronise local products. Sanusi said the attitude had kept the country underdeveloped and dependent on other countries for basic good.
The former governor of the Central Bank of Nigeria, CBN, while inaugurating the remodelled secretariat of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture, KADCCIMA, at the Kaduna International Trade Fair complex, said, the major problem of the country was that it imports what it has and exports what it does not have.
The emir described as unfortunate the fact that Nigeria has crude oil but imports refined petroleum products for its consumption. “The country also has gas but could not generate electricity from it, except to import generator,” he said.
Sanusi said further: “I have always said it, the problem of this country is that, we are in a country where will import what we have and we export what we don’t have. It is only in Nigeria we do that. We have cotton, but we will not process it to make cloth, except we go to China to buy them. We have crude oil, but we cannot go to the filling station and get fuel refined in Nigeria, except we take our crude to England and go there to buy refined products. We have refinery here in Kaduna, but the fuel you will buy is not refined here.
“From time immemorial, tie and dye used to be one a major business of Kano people, but now, it is Chinese that bring dyed clothes for us to buy. Kano people now select design for Chinese to go back to China and bring finished products back to them.”
Earlier, Abdul-Alimi Bello, president of the KADCCIMNA, thanked the emir for his assistance to the chamber and his consistent advocacy to promote local industries.
— Mar 21, 2016 @ 16:10 GMT
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