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Oluwo Canvasses Patronage for Local Products



By Alli Ibraheem

The Oluwo of Iwo, Oba Abdulrasheed Adewale Akanbi has canvassed for the patronage of local products to promote indigenous industries and boost Nigeria’s economy.


Oba Akanbi stated that the quest to turn Nigeria’s economy around lies in the hand of the citizens, saying that the economy would surely develop if they stop patronizing foreign products and embrace Nigerian made goods.

By doing that, Oba Akanbi said the country’s economy would be liberated from recession and equally dethrones industrial neo-colonialism which Nigerians are subjected to.

Oba Akanbi stated this on Tuesday in an interview with our correspondent at the Olowu’s Palace, Iwo, Osun State.

The traditional ruler described Nigeria economic quagmire as regrettable, urging the government, investors and other stakeholders to revive moribund industries and companies across the country.

He decried the practice and impression of Nigerians that local products are inferior to foreign counterparts, noting that Nigerians now prefer second-hand goods than new products made in Nigeria.

Oba Akanbi disclosed that he has entered into an agreement with the Bank of Industry (BOI) for collaboration on the production of western dresses using Nigeria fabrics in the country, explaining that the local fabrics would be used for the production of suit, trousers, etc.

The monarch said has met with the former president Olusegun Obasanjo and some stakeholders capable of promoting his vision to get government’s support.

He urged government to impose heavy tax on imported materials to nourish local products.

Oba Akanbi vowed to expedite action on the proposed Memorandum of Understanding (MOU) with the Bank of Industry (BOI) for the project.

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