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Buying Nigerian — how Buying Nigerian, Benefits You And The Economy - Business - Nairaland

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Buying Nigerian — how Buying Nigerian, Benefits You And The Economy by homewoxng: 12:22am On Oct 05, 2017
Do you remember the last time you saw a package with the three words, ‘Made in Nigeria?’ Probably not. The chances are that you often come across, ‘Made in China,’ ‘Made in the USA’ and ‘Made in India,’ but ‘Made in Nigeria,’ is getting increasingly more difficult to find.

Admittedly, it wasn’t like this all the time. Back in the 90s, shelves and showrooms were filled with high-quality Nigerian products, but in the last decade, there has been an upward trend in consumers choosing to by foreign rather than local products. Not only does this cause these Nigerian companies to shut down, but it also damages the economy.

Since the late 90s, the Nigerian manufacturing industry has seen a steady decline. In some cases, Nigerian manufacturers have chosen to relocate to countries like China and India to set up cheaper factories; in other cases, companies have been forced to close due to a lack of demand for their product.

In either case, this reduces the workforce, increases unemployment and reduces people’s spending, which leads to less taxation and money put back into the economy.

Reasons to buy Nigerian products


Jobs
When you have factories in Nigeria, you also need workers. Buying Nigerian, means that you are creating jobs for local Nigerian men and women, giving them a future.


Helping reduce the country’s carbon footprint
Nigeria’s reliance on foreign products increases the country’s carbon footprint. Products made in China and India need to be shipped across the world before they make it all the way to your shelves.

Importation causes huge levels of fossil fuel to be burnt in both the process of shipping and packaging the products, which is detrimental to the environment. When a product is ‘Made in Nigeria,’ you reduce the environmental shipping and packaging costs.


Building a stronger economy
Buying Nigerian doesn’t just support local communities. When you buy Nigerian, the entire country prospers. For example, when you buy Nigerian products made in a Nigerian factory, the factory prospers.

This will eventually lead to the company expanding and having to hire local construction companies to expand infrastructure, hire accounting and legal firms and consume locally sourced energy.


Increase in tax payment
Higher rates of demand for Nigerian products also means that companies must increase their production. This leads to corporations paying more tax. Moreover, if more people are working, then more individuals are also contributing.

This is extremely important, because it allows the local and national governmental organizations to put the money back into communities for various community projects. Many of which help in increasing the levels of access to education, which helps in breeding more industrious workers in the future.

There’s a tendency to think that buying foreign means buying better. This simply isn’t true. Nigeria’s manufacturing is, in many cases, at an already high standard. Moreover, buying Nigerian is a powerful tool for stimulating the economy and helping unite local communities and a nation.

Perhaps the reason you are reading this is because you have a genuine interest in Nigeria and its offerings. All of us at homeWox.ng do solemnly desire. Join us to make Nigeria better.

www.homewox.ng , is Nigeria’s online marketplace for Furniture and Home Decor. We offer a one-stop shop for everything home and everything beautiful. Always refer to us for your home & Office decoration needs.

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