The Emir of Kano and former Governor of the Central Bank of Nigeria, CBN, HRH Sanusi Lamido Sanusi has posited that the significant way to ensure patronage of locally made products in the country is through cultural re-orientation.
The Emir gave the position at the just concluded 18th Annual International Business Law Conference of the Nigerian Bar Association, Section on Business Law, NBA-SBL in Abuja.
In his keynote address, Emir Sanusi who was represented by Alhaji Suleiman Barau, underscored the importance of cultural change in boosting the Nigerian economy.
He said “There is a need for a cultural re-orientation to encourage Nigerians to patronise locally-made products, which is crucial for economic development.
“We need to change our culture of patronising foreign products and supporting local producers.”
The Emir further asserted that unless Nigeria’s exports surpass imports, the balance of payment would remain negative, posing a threat to the nation’s economy.
Highlighting the conference theme “Survive and Thrive ,” he stressed that revenue generation and transparency must go hand in hand.
Also speaking at the conference, CEO of NESG, Dr. Tayo Aduloju, stressed the importance of achieving measurable and tangible outcomes that positively impact citizens.
He emphasized that for organizations to thrive in the current economy, they must first stabilize, and for their ideas to yield results, they need to be properly sequenced.
Dr. Aduloju reiterated that positive economic diversification is the key to unlocking Nigeria’s economic potential, adding that “a higher level of thinking is needed to solve our problems.”
He argued that Nigeria requires a more comprehensive legal framework to curb corruption, which would free more government funds for production and economic revitalization.
Earlier in his speech, Conference Planning Committee, CPC, Chair, Mr. Ose Okpeku, emphasized that ‘Survive and Thrive’ is not just a theme but a positive affirmation and a mantra.
He highlighted the NBA-SBL’s ongoing efforts to create value for its members, ensuring they not only survive but thrive.
Okpeku urged the speakers to provide honest and critical insights that attendees could use to develop strategies for success.