The Federal Government is set to enhance local manufacturing content to 80% through the National Strategy for Competitiveness in Raw Material and Products Development.
This initiative, revealed by Minister of Innovation, Science and Technology Chief Uche Nnaji at the recent National Consultative Committee conference in Abuja, aims to significantly benefit SMEs.
The strategy is expected to create 4.4 million jobs and boost local content, making Nigerian raw materials and products more globally competitive.
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By focusing on local resources and advancing innovation, science, and technology, the plan seeks to elevate Nigeria’s position in the international market.
The initiative will not only foster economic diversification but also ensure that local manufacturers can meet global standards, enhancing Nigeria’s competitiveness and long-term economic growth.
The push for 80% local content is a critical step towards integrating SMEs into the global economy and increasing their market reach.
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