The Ooni of Ife and a first-class monarch, Oba Adeyeye Ogunwusi, has pushed the federal government to increase its support of local manufacturers in an intentional effort to boost the economy.
According to The Punch, Ooni criticized the government for using the dollar as a benchmark for the economy, stating that it was time for it to take seriously its goal of creating a thriving economy.
The Bureau de Change operators reported that on Friday, the naira was trading at N1195/$1 on the parallel market.
According to a statement, he told reporters at his palace in Ile-Ife to mark the eighth anniversary of his accession to the Ooni throne that the country’s political leaders needed to start supporting local businesses in all sectors to create jobs for the populace.
It was time, in his opinion, for the leaders to make sure that seventy percent of the goods they used or consumed were produced locally.
“Their fleet should consist of cars similar to Innoson vehicles,” he declared. “Our leaders ought to set a good example. It should be mandated that foreign companies manufacture seventy percent of their products in Nigeria in order for them to be awarded contracts there.
“The executive and legislators ought to start utilizing regional goods. I am a prime example of a user of local content because 75% of what I wear is produced in Nigeria. How many of our leaders wear apparels made in Nigeria?
“To what extent are their cars manufactured or assembled in Nigeria? My clothes are from Kano State; my shoes are from Aba, Abia State; my beadwork is from Edo and Ife; my overall is from Iseyin, Oyo State; and my cap is from Ife, Osun State.
“To build the economy and stop using the dollar as the benchmark for everything, our lawmakers should start wearing clothes made in Nigeria; that is the best way to reduce the dollar pressure on our economy; that is the way to create jobs for the youth and make our economy very productive and vibrant,” he said.
