Abuja: Nigeria's President Goodluck Jonathan said that his government is developing a clear policy that would require a certain category of imported goods to be produced locally, in order to increase employment.
Jonathan said this, when out-going Japanese Ambassador to Nigeria Toshitsugu Uesawa paid him a farewell visit at the State House on Sunday.
"We are considering such a policy in order to develop the economy, generate more employment, and thereby improve the purchasing power of Nigerians," in a statement from Jonathan's office.
This would result in even higher production by the affected manufacturers, President added. Jonathan told the envoy that there were so many Japanese products in Nigeria, especially motor vehicles, and invited the manufacturers to take advantage of the large market by setting up their factories in the country.
Nigeria, Africa’s largest producer of crude and a member of OPEC depends on imported machineries, equipment and vehicles from other countries. There would be an increased pressure on the government to diversify the economy and adopt India's method of do-it-yourself by engaging in production while discouraging imports.
First Published: Tuesday, August 16, 2011, 12:32