Business
Abuja Chamber Tasks Local Industrialists On World-Class Products
The Abuja Chamber of
Commerce and Industry (ACCI), has urged indigenous industrialists and other manufacturing sector stakeholders to produce world-class products that would meet international standards at competitive prices.
The chamber’s President, Mr Tony Ejinkeonye, made the call in an interview with newsmen in Abuja, yesterday.
Ejinkeonye said that local firms needed to produce world-class products of international standard and at competitive prices in order to encourage Nigerians to patronise made-in-Nigeria goods.
According to him, industrialists and manufactures should identify and source appropriate technology for production that will enhance global competitiveness.
“The vision of any industrialist or manufacturer should be to produce world-class products that will meet international standards.
“Nigerians want value for their money and that is one of the reasons they resist sub-standard products produced locally.
“Therefore, manufacturers should build consumer confidence through consistent production of quality products,’’ he said.
Stressing the need to produce at competitive prices, he said, “high cost of finished goods is the reason some entrepreneurs would rather import products at cheaper rates from China than produce them in Nigeria.
“Product branding and packaging decisions are very important decisions in this age of globalization. Product packaging can play a role in the success or failure of the sales of the product.
“Therefore, I expect manufacturers to package their products in such a way as to attract the consumer to take a look at the product as it sits on store shelves,’’ Ejinkeonye said.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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