Member representing Gombi/Hong Federal Constituency in the House of Representatives, Hon. Yusuf Buba Yakubu, has suggested that consumption of locally made products would boost economic growth of the nation in the face of its financial downturn.
Speaking with DAILY POST in Abuja, Buba explained that the size of Nigeria in terms of its population was an advantage where it could generate enough resources internally, stressing that there was no need the misfortune should last longer.
He regretted that penchant for foreign made goods no matter how inferior Nigerians are, if not stopped will continue to pose danger, hence, there was need for citizens to patronize its own products.
“Recession is a reality, but not the end. Over the years, Nigerians have high value attached to foreign made goods, no matter how inferior those goods are and it continues to detriment our economy. ”
“The size of our economy is enough to generate resources internally if only we will patronize our locally made goods, it will reduce pressure on over-dependence on imported commodities and falling oil prices in the international market thereby reflating the economy at the end of the day,” he added.
The lawmaker reasoned that it was important for the country to learn from its economic travails and see this as part of the country’s punishment for its failures of the past and the corruption that once ruled in all facets of the economy.
“Definitely, our past mistakes and the problem of insurgency in the country as well as farmers being chased away from farming activities has caused shortage of foods which he led to large scale hunger in the land”, he noted.
Acknowledging that recession was a global trend, Buba was optimistic that Nigeria could quickly come out of it as a result of its agriculturally endowed resources, while urging Nigerians to get back to farming.
Buba further noted that Nigerians should take advantage of land resources as well as climatic condition of the environment to go into farming as oil prices may not go up anytime soon.
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