In the wake of the #NigerianElections2023, one critical issue has come to the forefront, transcending political affiliations and uniting Nigerians in a common cause – the value of the Nigerian Naira. Regardless of who emerged victorious in the elections, there is an underlying truth that demands attention: the Naira’s strength is intrinsically tied to our collective choices as consumers.
Amid concerns about foreign conglomerates repatriating profits and the Naira’s continuous nosedive, it is time for Nigerians to embrace the power of patriotic consumerism. The impact of our choices as consumers cannot be understated – each transaction we make has a direct bearing on the strength of our national currency and, consequently, our economic wellbeing.
The reality is that Nigeria still imports most of its fuel, making the price of petrol directly related to the value of the Naira. The same applies to various goods and services, including mobile network providers, banking services, and everyday products like cement and cereal.
Consider this: if all Nigerians chose to support the only wholly Nigerian-owned mobile service provider, Globacom Nigeria Limited, instead of foreign competitors like MTN, Airtel, and Etisalat, the immediate impact on the Naira’s value would be substantial. Every time we choose to use foreign services over locally-owned ones, we inadvertently undermine the strength of our currency.
To strengthen the Naira and bolster our economy, we must make a concerted effort to “Buy Nigerian.” Patronizing Nigerian brands like Dangote, NASCO, and Air Peace not only circulates revenue and profits within Nigeria but also fosters job creation and economic growth. Our purchasing power increases, and we create a self-reliant economic ecosystem that benefits us all.
By supporting Nigerian-owned businesses, we empower them to reinvest in their operations, providing world-class services that rival any foreign competitor. It’s a win-win situation – not only do we uplift our economy, but we also gain access to high-quality products and services.
Patriotic consumerism extends beyond choosing local products over foreign ones; it’s about changing our mindset and embracing the richness of our own culture and heritage. Let’s celebrate our traditional foods, customs, and practices, embracing made-in-Nigeria goods as a source of pride and identity.
However, this call for patriotic consumerism should not be interpreted as isolationism or protectionism. Nigeria is part of the global community, and engaging in international trade is vital for economic growth. We can strike a balance by giving preference to Nigerian products where viable alternatives exist and supporting local businesses when they provide competitive offerings.
As a nation, we must collectively adopt a “Change Begins With Me” mindset, as suggested by President Buhari. It’s time to take a critical look at our consumer choices and consciously opt for Nigerian-made alternatives when available. From our mobile services to everyday household items, we can wield the power of our purchasing decisions to transform the Nigerian economy for the better.
The path to a stronger Naira and a thriving economy lies within our hands as consumers. Embracing made-in-Nigeria products and services is not just an act of patriotism; it’s a strategic move to revamp our economy and regain financial stability. Let us choose to “Buy Nigerian” and celebrate the richness of our own culture and heritage. Together, we can unlock the full potential of our beloved Naira and build a prosperous future for all Nigerians.
