Economy

Economic Recession: Ooni Canvases for Local Products Patronage

Published

8 years ago

October 6, 2016

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By Abdulrofiu Agboola, Osogbo

The Ooni of Ife, Oba Enitan Ogunwusi, Ojaja II, has identified patronage and promotion of local products as a viable way to bring Nigeria out of economic recession.

According to Oba Ogunwusi, the patronage of local products would ensure the circulation of money across every sector in Nigeria and in return develop the country’s economy as the local productions will increase automatically.

Oba Ogunwusi disclosed this on Thursday October 6, 2016, during an Agricultural summit in Ile-Ife, Osun state, tagged Ife Agro-Preneurship Summit and Presentation of Ojaja II Agricultural Hub.

The traditional ruler charged Nigeria’s leaders to also think of various agricultural products through innovations which could assist in the revitalization of the country’s economy.

He stated that total shift from importation and patronage foreign products would save the country’s economy from total collapse.

Oba Ogunwusi noted that naira is under pressure because of the preference for foreign goods by Nigerians who ought to be patronizing local products for the growth of the country’s economy.

The frontline monarch while calling on Nigerian leaders to see the present economic downturn as a challenge which requires individual’s strength to address, said there is need for the leaders to be self disciplined.

He urged the youths to go into farming instead of day-today complaint, saying that they could make millions of naira in farming if they concentrate on it.

Oba Ogunwusi said: “Enough of this complain day in day out, we have recession but we will surely come out of it. Let use our strength out of recession, the strength belongs to the youths”.

Stating his contributions to the promotion of local products, Ooni said: “From my crown to my shoe, my necklace, beads, soap, everything is made locally. Our leaders should make this a good point of campaign. We should all go back to locally made products and stop complaining about recession.

“In five years, Ife will be one of the biggest economy in Nigeria and parts of efforts to achieve this is this efforts to return our youth to farming.

Echoing the similar view, Group Head, Department of Agro-Processing, Bank of Industry, BoI, Ruth Lolo Kadafa, in her lecture said if Nigeria could maximise the potentials in her many agricultural products, especially plantain and cassava, more than half of the current economic crises would be solved.

Kadafa noted that from the plantain stub to its leaf, are products that could earn the country foreign exchange, if well packaged.

She said from plantain stub, building materials that is in vogue for ceilings are extracted, while plantain leaf is being used to serve food at high society event in Peru.

“Also the leaf can be processed into trays, slippers, toothpaste, cups among others.

Also cassava like plantain has many usages that could be improved upon to earn forex for the country.

“From cassava, we can get ethanol, noodles, beverages, clothing materials, glucose and soap. All these we can get through cassava when we add value to it”, she said.