Democracy Day: Support to local manufacturers will boost economy, UFAN President tells Tinubu
By: Ekunkonye Junior Abuja.
Although the President of the United Furniture Association of Nigeria (UFAN) and the CEO, Prince Interior Furniture and Furnishing Company Limited, Abuja, Dr. Prince Emeka Egwuekwe, has commended the Tinubu led Federal Government for moving to support local industries, but he was quick to urge the government to intensify its support for local manufacturers, citing the potential for job creation and economic growth.
This was contained in his Democracy Day message, while addressing journalists in his office in Abuja.
To achieve a common goal of restoring the country to its lost glory economically the UFAN President urged the government to halt the importation of goods that can be produced locally. While advocating for the encouragement of exportation of locally manufactured goods to improve the country’s balance of trade, Egwuekwe called on the government to lead by example by patronizing local manufacturers through Ministries, Departments, and Agencies (MDAs).
He proposed the establishment of a bank, separate from the Bank of Industries (BoI), to provide loans to manufacturers at little or no interest emphasized the need for a steady and affordable electricity supply to support local industries. He said that
The UFAN President noted that full encouragement of local manufacturers would not only create employment opportunities but also boost the economy. By implementing these measures, the government can create a more favorable business environment and stimulate economic growth.
