Nigeria is in a state of financial avitaminosis and the economy is in a state of comatose all in the name of importing foreign goods and paying in dollars, the naira to dollar rate have not been a source of good news to citizens and investors, as at Sunday 26 2016, the dollar fell to an all-time low rate of N425 and proving economist right that the dollar gradually moving to an historical value of more than N500 to a dollar ,we have become compulsory customers of the bureau the change agents who stand at different locations with calculators in various locations in our commercial cities just because of our compulsive taste for foreign made goods. First, the worst of it all is this story about us importing toothpick, things our fore fathers produce in large quantity to give out to the forest as traps for rat and squirrel we never considered the effect on the naira and current dollar rate.
Back in the days when our dear nation Nigeria was one of the largest exporting country in the world, the glorious days when the naira and the dollar were classmates of same grade, as an export-oriented country. We even exported palm trees to Malaysia, which, today, is about the world’s largest producer of palm oil, but gradually we gravitated towards an import dependent country, thanks to the discovery of crude oil ,economic experts and analyst say the only way we could go back to the good old days is if Nigerians as a whole look back in the right direction.one of such steps is to #BuyNaijaGrowTheNaira .this is the only way we could diversify the economy from “our oil dependency “to generating income and creating jobs from other sources which are wallowing without been tapped , hence Nigerians must start patronizing made in Nigeria entrepreneurs , products and markets.
In determination to diversify the economy and to make Nigerians patronize locally made products, goods and services mandatory, the Nigerian senate passed a bill under the public procurement act, the bill titled “A Bill for an act to amend the public procurement act to provide for and adopt a local content policy and timely completion of procurement processes and other related matters” by Sen Joshua Dariye.
Now that the naira has weakened against major international currencies, what happens? we must try to patronize our local industries and entrepreneurs’, so we could create jobs and enrich the status of the naira, mostly the online e-commerce companies that sell Nigerian locally made produce.
Mrs. Taiwo Akinfolarin a banker and resident of Victoria Island told me about how she is trying to patronize a local online supermarket to reduce stress, cost and save her time to doing something else. She was talking about a supermarket that has more than 70,000 groceries including most Nigerian local produce like tomato, vegetables, egusi, okro and catfish etc. and delivers within 3hours of purchase, a supermarket that never disappoints and also gives discount worth saving to cover up for children tips to school and other necessities , she explained, this online supermarket has been the secret to her covering up her lateness home and keeping her marriage intact without complains from the husband , she was talking about the largest and the fastest online delivery supermarket located in the island of Lagos called supermart.ng
When we ignore our pains they may subside for a while but yet they must be treated, there is no nation who is going through this process that didn’t survive, going local is the only way out of economic recession, increase rate of unemployment and naira appreciation in the economy.