Rivers
FG Plans Local Patronage Act
The Federal Government, says it would soon send to the National Assembly, a Bill that would make it compulsory for all Nigerians to patronise locally made goods in the country.
Minister of Trade and Investment, Dr. Olusegun Aganga who disclosed this during an inspection of the Onne Oil and Gas Free Zone Authority on Monday also said that the government would harness the nation’s abundant limestone resources in order to make Nigeria the largest producer of cement in the world.
According to him, part of the target of the government include the reduction in import substitution and the harnessing of local raw materials for the production of goods in the country.
“Our strategy is about building industries based on areas we have competitive comparative advantage”, he said.
The Minister said that of all the free zones approved so far in the country, the Onne Oil and Gas Free Zone had remained the only one that had met the expectations of Nigerians.
According to him, the Onne Oil and Gas Free Zone had exceeded its revenue target of 5.4 billion dollars, but noted that the government expected it to do more, and expressed satisfaction with the level of technology transfer in the zone.
“I have made very clearly, that this is the largest Oil and Gas Free Zone in the world based on what I have seen, there is a high level of development taking place in terms of the necessary infrastructures”, the Minister said.
Earlier in his speech, the Managing Director of the Onne Oil and Gas Free Zone Authority, Dr. Noble Abe said that time had come for Nigeria to concentrate on those areas that she has the greatest comparative advantage, stressing that the country could attract investment, with the right incentives.
He thanked the Minister for the visit which, he said, would provide opportunity for him to appreciate what the authority was doing in the area.
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