Maximizing Local Content Economy Policy

 The local content policy of the Federal Republic of  Nigeria is another dimension,the government has adopted, to grow the national economy.The focus being to encourage  a larger number of indegenous enterprenuers to manifestly get on a sustainable basis in all economic activities.

 

As a review policy,it delineates the functions of designated agencies in the manufacturing and other sectorial commercial activities.So that those whose responsibility it is to supervise and ensure strict adherence to set standards can make the economy witness a fair compitition that allows local industries to thrive.

 

This decision it is implementing to make the country a producing nation.At present,Nigeria is predominantly a consuming country.A dominant feature that is seen in the heavy relevance of the productive process on foreign personnel and raw materials.The services provision is also marked with this faeatures.

 

No matter the justifiying qualification,sometimes it is believed to be flimsy, to create job for foreigners.This is so because some of them do not have the kind of qualification that should place them above the indigenous university graduates.But they are imported and given the status of  ‘experts’.

 

The cost of hiring digs deep into the economy.With their salaries are paid to their foreigh accounts,capital is continouosly on a flight out of the country.The knowledge of the job they come with do not also get transferred or taught to local entreprenuers and workers.This practice delimits and frustrates efforts to grow the technology capacity  of the country.

 

Steming Capital Flight

The cost of retainership is high.One man is also seen as a king among other workers.This is suicidal and places the economy, by inference the nation at a risk.

 

If a low education level is identified among the indigenous work force,then educational institutions can be encourage to include sience vocation teaching in the curriculum[technical training].

When foreign technology capacity is domesticated, local production will increase.

 

Technology Transfer

Training and retraining of qualified and teachable citizens will eventually become the pool from which technical hands can be drawn.Such training comes with commitment.It is often more efficient on the job[training].Where superior officers consciously creates the atmosphere for their subordinates under study them.

 

It is the same superior who can attest to the competency  and also certify them.Then there will be a cross posting of the mentee to partner’s facility.

 

Denying employable youths to be employed and gain the experience is against the local content policy imperative.When the opportunity is denied the youths, community voices become harsh and peacefull production process stands the risk of being interupted.

 

Local content target

The focus is to develop local economies, increase savings of foreign exchange and raise the budgetry requirements for freight cost. It will also create the climate that encourages increase manhour for productive activities in the local economy and stocks of technology expertise.

Technology growth is a global issue but localizing its gains to impact positively on the lives of the people is what the policy seeks to rake in.

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