By Ekuson Nw’Ogbunka, Abuja
The President of the United Furniture Association of Nigeria, Dr Prince Emeka Egwuekwe, has praised President Bola Tinubu’s decision to ban the importation of goods that can be manufactured locally. Prince Emeka Egwuekwe urged the president to maintain the ban to boost the country’s economy by ensuring that MDAs patronize local manufacturers, and called on the Senate to support the order with legislation. Egwuekwe, the MD of Prince Furniture and Furnishing Company Limited addressed journalists in his office in Abuja on Tuesday.
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On economic benefits of the import ban, Prince Emeka Egwuekwe, said that the ban will enhance Nigeria’s favorable balance of trade and lead to increased employment opportunities in the furniture industry. He emphasized that Nigerian manufacturers can produce high-quality furniture that competes favorably with foreign counterparts.
Speaking on local production and job creation, he highlighted the potential for local production to drive economic growth, citing China’s success in building its economy by shutting borders to foreign goods and promoting local production. He also disclosed plans to establish the Prince Interior Vocational Institute in Abuja to train bricklayers, carpenters, welders, and other skilled workers, with interest from the United Nations Industrial Development Organization (UNIDO) to partner on the project.
On government support needed, the MD, Prince Furniture and Furnishing Company Limited observed that to fully realize the benefits of the import ban, Egwuekwe urged President Tinubu to ensure that Ministries, Departments, and Agencies (MDAs) prioritize purchasing furniture and related goods from Nigerian manufacturers. This move would not only support local industries but also contribute to the country’s economic development.
Shedding light on its impact on Nigeria’s economy, the manufacturer said that he noted with dismay that Nigeria loses approximately $9 billion annually to furniture imports, according to the President of the Kitchen and Furniture Manufacturers Association of Nigeria (KIMTA). By promoting local production and reducing imports, Nigeria can conserve foreign exchange and stimulate economic growth.
