The Federal Government has called for increased domestic production and local value addition, saying Nigeria must reduce its dependence on imports and make better use of its abundant human and natural resources.
The government made the call at a World Press Conference in Abuja as part of activities marking the country’s 66th Independence Anniversary.
It said the administration of President Bola Ahmed Tinubu had embarked on reforms aimed at moving the economy from stabilisation towards growth, production and shared prosperity.
According to the government, the country’s GDP growth is strengthening, its external position has improved, domestic refining capacity has expanded, while investment and productive activities are gaining momentum.
It, however, said the gains from the reforms must ultimately translate into improved living conditions for Nigerians through more jobs, higher incomes, lower costs and wider economic opportunities.
“The principle is simple: Nigeria must increasingly produce what it consumes, process what it extracts, and create opportunities from its abundant human and natural resources,” the government said.
It said the Renewed Hope Agenda was pursuing the objective through investments and reforms in infrastructure, agriculture, education, consumer credit, digital skills, energy and enterprise.
The government also cited ongoing reforms in agriculture, livestock, solid minerals, oil and gas as part of efforts to increase production and promote local value addition.
It said student loans were widening access to education, while consumer credit was expanding economic opportunities for Nigerians.
The government further noted that major highway projects were connecting communities and markets, creating an enabling environment for economic activities.
It said Nigeria’s economic transformation could not be sustained without adequate security, justice and national cohesion.
“The administration continues to strengthen our security architecture while insisting that the authority of the state must always be exercised within the law,” it said.
The government also called on all Nigerians to play their part in nation-building, stressing that government, the media and citizens each had responsibilities in strengthening the country.
It urged government to communicate truthfully and remain accountable, while calling on the media to uphold accuracy, fairness, balance and verification.
“Citizens must have reliable information with which to make their own democratic choices,” the government said.
It acknowledged that while there was progress to record, significant challenges remained, stressing that more work was required to build a prosperous, secure and united Nigeria.
“Our responsibility is to hand the next generation a Nigeria that is more prosperous, more secure, more united and more confident than the one we inherited,” the government said.