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Sterling Bank Nigeria PLC has unveiled a unique platform called “Made By Nigerian (MBN)” to promote quality products made by Nigerian Entrepreneurs irrespective of where they live.
MBN by Sterling is a commercial hub that is accessible to every business within Nigeria and of Nigerian descent, who focuses on buying and selling 100percent Nigerian Made Products at competitive prices in order to propel Nigerian goods and services to the world.
Speaking to journalists at the bank’s corporate headquarters in Lagos on Thursday, the Managing Director, Sterling Bank PLC, Mr. Abubakar Sulaimon said that to build a country, people must focus on what is produced by the citizens.
According to him, Sterling Bank recognizes Nigeria’s traditional strengths and abilities to leverage on locally made products in transforming its economic climate. “Backed by Sterling, MBN is a community with a passion to converge the daring Nigerian entrepreneurs and saturate the Nigerian and international market with locally made products, while telling the Nigerian story as a means to better position who we are as a people.
“For many Nigerians, the future is locally made,” he stated.
Sulaimon admitted that though the Central Bank of Nigeria has been promoting made-in-Nigeria products through the PAVE option ( Produce, Add Value and Export), but in between the production and export, someone has to bridge the gap by promoting the products in the local market where the standards can be tested and upgraded through insightful feedbacks from the local market that helps the entrepreneurs to upscale.
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For instance, he added, “someone has to look inwards to find out why companies are not growing.”
He assured of the sustainability of the platform because it is a community that they may not exert any overbearing influence but would be ready to support due to its belief on the ability of local entrepreneurs
According to him, building the ecosystem will create an avenue for foreigners to come to Nigeria and demand made by Nigerian goods.
The bank he said, is Nigeria’s largest promoter of locally made products and services and does so because when locally made products are supported: it gives room to experience the history and future of Nigeria at once; more job opportunities are created with every purchase; increasing sales domestically and internationally will open new opportunities for growth and development in manufacturing output and exports; local products understand language, culture, aspirations and connects in various ways among others.
Nigeria’s greatest assets in the global arena is first the talent pool and then the Market; and that market needs to be harnessed he submitted.
Some Chief Executive Officers of Nigerian startups present, urged the bank to design avenues through which there could be partnership s that benefits the parties especially in the area of working capital and technical support.
They are: Oluwatobi Ajayi of Nord Motors, a Nigerian car manufacturer, Ehis Ero of Ero Crafted a Shoe producer, Marian Animasaun of Tong Groo Food Company.
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