Since Nigeria attained political independence in 1960, the national economic strategy has basically been to use its massive foreign exchange earnings from crude oil and natural gas exports to finance the importation of all kinds of goods and services to meet the needs of households for consumption and businesses as production inputs alike. However in recent years the country has prudently focused on diversification of its manufacturing base towards greater domestic production for both import substitution and for export. It has also focused on increased local content with regards to sourcing inputs for domestic production. These activities are now correctly regarded as imperative for Nigeria’s economic growth and development, particularly for increased local value addition, exchange rate stability (and consequent price stability) as well as generation of employment and entrepreneurial opportunities.
Our award scheme has been designed to contribute to this new strategy in several ways. Most importantly our awards, in identifying and publicizing the most outstanding made in Nigeria products and services, will provide direct marketing and sales support for awarded products and services as well as generating awareness and goodwill for the brand names under which they are offered. The awards will also encourage increased efforts by Nigeria’s domestic producers of goods and services as a whole, to deliver products and services that are competitive against their local counterparts and imported alternatives on both domestic and foreign markets, by establishing high standards and business activity models for other producers to emulate and exceed.
The accompanying forum to be held earlier on the day of the awards will provide a platform for stakeholders – producers, regulators, facilitators, investors and providers of business support services all inclusive – to exchange ideas, strategies and both technical and market information as well as business strategies, that would improve the quality of their goods and services; the efficacy of their activities; and their domestic and foreign market pricing and penetration, as well as the overall international reputation of made in Nigeria goods and services.
Finally the day-long exhibition would provide a platform for participating companies and institutions tom reach their customers and wider stakeholders directly and practically with their product/service offerings, thus facilitating large scale orders.
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