CHANNELS
In a country rich with culture and resources, buying Made-In-Nigeria goods should be a no-brainer. Yet, despite the skyrocketing prices of imported goods and the exit of multinational companies, many Nigerians still prefer foreign products.
Let’s explore why this is the case, focusing on the food, fashion, and furniture industries.
The devaluation of the naira has significantly impacted the purchasing power of the average Nigerian. With inflation on the rise, the cost of living has become a major concern. Imported goods, once seen as luxury items, have become even more expensive, yet they still dominate the shelves of supermarkets and markets across the country.
Imported vs. Local: Despite the high cost of imported food items, they are often perceived as being of higher quality. Many supermarkets stock more foreign goods than local ones, partly due to consumer demand and partly because of the perceived inconsistency in the quality of local products.
Affordability: Locally produced food items, such as rice and processed foods, are often more expensive than their imported counterparts. For example, a bag of locally produced rice can cost significantly more than imported rice, making it less accessible to the average Nigerian.
Quality Perception: Nigerian fashion is vibrant and unique, yet many consumers still prefer foreign brands. This is largely due to the perception that foreign clothes are of better quality and more fashionable.
Cost Factor: High-quality Nigerian-made clothes are often priced out of reach for the average consumer. For instance, a locally made Ankara dress might cost more than a mass-produced foreign dress, making it a less attractive option for budget-conscious shoppers.
Raw Material Challenges: The furniture industry faces significant challenges in sourcing high-quality raw materials locally. This often leads to higher production costs and, consequently, higher prices for consumers.
Market Preference: Many Nigerians still prefer imported furniture, believing it to be more durable and stylish. This preference is reinforced by the fact that many local furniture makers struggle to compete with the design and finish of imported pieces.
1. High Production Costs: The cost of producing goods in Nigeria is high due to factors such as unreliable power supply, expensive raw materials, and high taxes. These costs are passed on to consumers, making local goods more expensive.
2. Perception of Quality: There is a lingering perception that foreign goods are superior. This is a significant barrier for local manufacturers who struggle to change this mindset.
3. Limited Availability: Many supermarkets and markets stock more foreign goods than local ones. This limited availability of local products makes it difficult for consumers to choose Nigerian-made options.
4. Economic Constraints: With the devaluation of the naira and rising inflation, many Nigerians are focused on affordability. Unfortunately, high-quality local goods are often not affordable for the average consumer.
1. Government Support: Increased government support in the form of subsidies, tax breaks, and improved infrastructure can help reduce production costs and make local goods more competitive.
