Nigerian tractor manufacturers are up in arms over the Federal Government's decision to import $250 million worth of tractors from Belarus, arguing that this move would have created at least 40,000 jobs if the same amount was invested in local production. Ibifiri Bobmanuel, Managing Director of Bobtrack Nigeria Limited, a leading tractor manufacturer, expressed disappointment that the government chose to import tractors instead of supporting local manufacturers.
*Key Points:*
- *Job Creation*: Local manufacturers believe that investing $250 million in domestic production would have created a significant number of jobs, boosting the country's economy.
- *Local Production Capacity*: Bobtrack Nigeria Limited can produce 6,000 tractors annually, exceeding the 2,000 tractors expected from the Belarus deal.
- *Nigeria's Annual Need*: The country's annual need for tractors is estimated at 10,000 units over the next 20 years.
- *Government Support*: Bobmanuel urged the government to support local manufacturers, citing the potential for increased GDP and improved investment outlook ¹ ².
*Manufacturers' Concerns:*
- *Protectionism*: Bobmanuel noted that developed countries protect their local industries, and Nigeria should do the same to support its manufacturers.
- *Policy Alignment*: He emphasized the need for policy alignment to promote local production and economic growth.
- *Ambassador's Role*: Nigerian ambassadors should promote local products, such as tractors, to other countries, rather than facilitating imports ¹.
