The Chief Executive Officer, CEO, of Erisco Foods Limited, Chief Eric Umeofia, has advised President Muhammadu Buhari to reorganize his cabinet by getting the right people in order to achieve his goal of diversifying the country’s economy.
Speaking with The Guardian, Umeofia said the only way to grow the economy of the nation was for the government to rely on indigenous companies, stressing that foreign companies are only out to exploit the nation.
He also accused the Central Bank of Nigeria, CBN, of contributing to the country’s bad economy by “technically” killing local manufacturers through its policies.
According to Umeofia, “How then can we diversify, grow the economy and attain food sustainability in the country? The CBN is technically killing indigenous manufacturers and I challenge them to a debate where I will tender evidence to support my claims.
“I advise the President to bring on board people that will support his policy, otherwise we will still be where we are in the next twenty years. I’m not against foreign investment in Nigeria, rather, what I’m against is portfolio investors whose only aim is to make money here and repatriate it to their various countries.”
“It is important to state here that no foreigner can love or develop this country more than Nigerians. The interest of these importers is to make profit whereas the interest of indigenous manufacturers is to contribute towards economic development.”