NESG boss talks on Made in Nigeria initiative

The Nigeria Economic Summit Group (NESG) Chairman, Kyari Bukar, recently sat down with CNBC Africa's Onyi Sunday to discuss the importance of the Made in Nigeria theme at this year's summit. With Nigeria's population surpassing 170 million people, Bukar emphasized the potential for economic growth and job creation by focusing on local production and consumption. He highlighted the need for a mindset shift towards looking inward and investing in sectors such as agriculture, light manufacturing, and industrialization. Bukar acknowledged the challenges faced by small and medium-sized enterprises (SMEs) in the local manufacturing sector, pointing out the critical role of government support in providing the necessary infrastructure and a conducive business environment. He emphasized the importance of regulatory frameworks and policies that promote ease of doing business to enable local industries to thrive. Reflecting on the previous year's theme of tough choices, Bukar noted that while some recommendations had been adopted by the government, others were delayed or not fully implemented. He underscored the ongoing dialogue between NESG and government stakeholders to address policy issues and remove hurdles hindering economic progress. When asked about the current economic situation in Nigeria, Bukar highlighted the need for proactive measures to steer the country out of recession. He cited the importance of strategic spending on infrastructure to stimulate economic growth, while also cautioning against inflationary pressures. Bukar echoed the sentiment that in times of recession, decisive action is required to revitalize the economy and create opportunities for sustainable development. As the NESG continues to champion the Made in Nigeria initiative and collaborate with government entities to drive policy reforms, Bukar's insights serve as a call to action for all stakeholders to prioritize local production and innovative solutions for economic resilience.