Business
PROF. Abiodun Adebayo, former Vice-Chancellor of Covenant University, Ota, Ogun, has called on Nigerians to prioritise indigenous goods and services to stimulate industrial growth in the country.
In an interview with the News Agency of Nigeria(NAN) on Monday, Adebayo said that the preference for foreign products hinders the development of local industries.
The Professor of Computer Sciences noted that relying on imports prevents industrialisation and limits employment opportunities for Nigeria’s youth.
“We need to use our local goods and services for local industries to grow because no foreigner will develop our country for us.
“It is high time the country stopped depending heavily on foreign goods and services because it also negatively affects our currency,” he stated.
Adebayo urged the Federal Government to build domestic capacity by creating a supportive environment for industries to flourish.
He stressed the need for concerted efforts to address the challenges hindering industrialisation.
He identified high interest and exchange rates, inconsistent economic policies, infrastructure deficits and insecurity as key obstacles. (NAN)
A.I
Feb. 17, 2025
Tags: Prof. Abiodun Adebayo
