Experts Seek Bill To Curb Undue Exploitation Of Foreign Manufacturers



Experts in the environment and health sectors on Monday asked the

Federal Government to urgently check undue exploitation of foreign

manufacturers in the country.

The experts said it was becoming an economic slavery for the nation if

crucial decision is now considered.

Managing Director, Accouns Nigeria Limited, Mrs. Adunni Udu during a

briefing in Abuja disclosed that foreign manufacturers should be made

to establish production plants in the country, at least five years

after initial commencement of operation to generate employment for the


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She said the indigenization policy could no longer address the current

economic situation, adding that the investors lack corporate

governance which encourages dubious activities unacceptable in their

country where the business is domiciled.

According to her, some Nigerians are often used as pathfinders to

penetrate and secure diverse markets in the country, yet subsequently

discarded and perform below consumers’ expectations.

“Nigeria as a country cannot grow economically with the present

liberal laws which allows foreign investors use indigenous

representatives at will, capitalizing on the loopholes of Nigeria laws

which are more liberal than what is obtainable other fast growing

countries of the world.

“The government should release Nigerians from the holds of these

desperate unscrupulous foreign manufacturers, investors and partners

who neither have offices, staff nor incur overhead cost including

taxation but siphon billions and trillions of Naira from the Nigerian

economy denying government of revenue and employment opportunities for

her citizens, with the attendant effect of kidnapping, armed robbery,

pipe-line vandalism, militancy and cybercrime,” Udu said.

Oyo State former Commissioner for Environment and Water Resources,

Alhaji Majekodunmi Aborode advised the National Assembly to promulgate

laws that would secure interest of local entrepreneurs.

He said it is important to curtail foreign investment encroachments in

order to reduce capital flight.

Aborode stated that Nigerians are known for their hardworking and

entrepreneurship spirit, which according to him should be encouraged

to developing the nation’s economy.

“We suggest that if a foreign company engages in distributionship

business for an average of five years, such company should not be

allowed to continue except they establish institutions in Nigeria to

manufacture their line of products or assemble new products in Nigeria

for employment generation and income growth to the economy,” Aborode


However, the experts urged lawmakers to enact legal framework that

would protect indigenous entrepreneurs thereby protecting the national




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