Sterling Bank has concluded plans to champion the use of locally-manufactured goods and services as part of its commitment to the growth of the Nigerian economy.
In a statement on Monday in Lagos, the bank’s Executive Director, Finance & Strategy, Mr. Abubakar Suleiman, said the decision was in line with the emphasis of the Federal Government to patronise Made-in-Nigeria goods.
The bank had set aside this week to champion the campaign for Made-In- Nigeria goods beginning from April 25 to April 29.
Suleiman said the week was an opportunity to promote a sense of pride and confidence in Nigerian grown brands.
“For the entire week, we intend to showcase and celebrate everything Nigerian, as a brand that supports our indigenous-manufactured products.
“This is why we want to start with our staff by setting aside a week when we will wear only fabrics and other locally-made products to the office.
“Other initiatives already undertaken by the bank to promote local entrepreneurs included its partnership with Innoson Motors Ltd.
“The bank chose the company, being the first indigenous manufacturer of vehicles and to finance the purchase of locally-made vehicles produced by it,” Suleiman said.
The executive director said that the bank also supported the financing and business patronage of Labana Rice Mills, an indigenous rice mill, among others.
He said the campaign would also serve as an avenue to create employment, especially for Nigerian entrepreneurs involved in the production of goods.
Suleiman said that the patronage of local attires was expected to boost the economy, especially those in the fashion and shoe making industry.
He said that the partnership was one of the numerous initiatives undertaken by the bank to enrich the lives of Nigerians.
“This campaign comes at a critical time in the country; a time when there is an increasing call to look inwards, especially in the face of the current foreign exchange pressures.
“The pressures resulted from the country’s over-dependence on oil exports for foreign exchange and global oil sector downturn driven by falling oil prices.
“This in turn, has dampened economic growth and negatively impacted other sectors with prices of imported products and inputs rising significantly.
“For the country to get out of the situation, there is an urgent need to diversify the economy and empower the manufacturing sector in the country, ‘’ Suleiman said.
He urged Nigerians to patronise Made-in-Nigeria products to boost the economy
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