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Homepage 2017-04-23T05:35:10+00:00

Overview

The “Made in Nigeria” Challenge was initiated by the President of the Senate, Dr. Abubakar Bukola Saraki to support Nigeria’s local business community to become a more competitive and efficient supplier to the public sector and everyday Nigerians.

We hope to identify products and ideas that can be matched with investors and government agencies.

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Brief History

Following the passage, of a Senate Bill seeking to amend the Public Procurement Act 2007 on the floor of the Senate, in June 2016, the Made in Nigeria Challenge was announced by the Office of the Senate President to boost the manufacturing and usage of domestically-made goods in the country.

The Bill, once concurred with and assented to, will amend certain relevant sections of the 2007 Procurement Act to favour local manufacturers and the ensure speedy completion of projects and contracts.

The Senate’s amendment to the Public Procurement ActThis is aimed at enhancing timely completion of Procurement Processes at various phases include:

Employment & Job Creation

Buying ‘Made in Nigeria’ goods will help to boost employment generation in Nigeria. The multiplier effect of patronising local products will also lead to the creation of new jobs.

Stronger Local Currency

Buying ‘Made in Nigeria’ goods helps to conserve Nigeria’s foreign reserves. This in turn strengthens the Nigerian Naira against foreign currencies like the Dollar, which makes our local currency healthy and self-dependent.

Strong Economy

Buying ‘Made in Nigeria’ goods adds value to the Nigerian economy. Solidifying the Nigerian economy means that we have to invest in small and medium-scale enterprises.

GDP Growth

Buying ‘Made in Nigeria’ goods helps to boost our national GDP. The GDP is the entire economic output for the past year. Hence, the faster and healthier Nigeria’s GDP growth rate is, the better the economy is doing.

Boost Production

Buying ‘Made in Nigeria’ goods helps to boost domestic production.

Boost Self-Sufficiency

Buying ‘Made in Nigeria’ goods will help propel Nigeria’s drive to achieve self-sufficiency by encouraging the local production of items required in various sectors of the country.

Boost Quality Production

Buying ‘Made in Nigeria’ goods will help to improve the quality of goods produced in Nigeria, as it will create more competition amongst businesses operating in various sectors.

What the Senate is Doing to Improve the Ease of Doing Business in Nigeria

Nigeria is currently ranked 169th out of 190 in the World Bank 2017 Report on the Ease of Doing Business. This shows that there are still numerous impediments that restrict the growth of ‘Made in Nigeria’ businesses and the economy as a whole.

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Economic Priority Bills & Made in Nigeria

Since the recession was announced in 2016, the Senate has been giving accelerated consideration to 11 Economic Priority Bills that once signed into law, will help to create 7.5 million jobs and reduce poverty by 16.4 per cent.

By prioritizing the creation of jobs, and the patronage of ‘Made in Nigeria’ goods and services, the 8th Senate has identified a major challenge facing the nation.

This dual thrust or pushing for the patronage of ‘Made in Nigeria’ good and services, while creating an enabling and conducive environment to conduct business, will add an average of N3.76 trillion to national incomes, which is equivalent to 4.39 per cent of 2014 figures.

Sign Up to Join the Challenge

Are your products “Made in Nigeria”? Do you think your products and Ideas can be matched with government agencies and investors? Then, Join the Challenge!

In order to participate in the challenge, you are required to fill and submit the sign up form.

Best of luck.