A Seasoned Industrialist, Otunba Aderemi Abdul-Bojela, has stressed that Quality Life Improvement Plan (QLIP) scheme will help various facets of the economy to achieve the quantum leaps essential to becoming a developed nation.
He opined that the proposed Federal Government backed consumer credit scheme would industrialize Nigeria.
Otunba Abdul-Bojela, who is the executive chairman of United Technologies Limited, an engineering and manufacturing company, while speaking at a press briefing in Lagos, Tuesday, introduced QLIP, a blueprint designed to bring succor to local manufacturing.
QLIP will bring solutions to the tripod of challenges that successive governments have grappled with: development of the economy, job creation, and diversification beyond oil
“QLIP is a specialized consumer credit programme established to assist in the sustained growth of local manufacturers by way of inventory disposal through the availability of consumer credit geared towards local products and services.
“It also provides easily accessible funds for buyers of consumer products and services to purchase items
without putting excessive strain on their resources,” he said.
The Industrialist pointed out that the scheme (QLIP) will bring solutions to the tripod of challenges that successive governments have grappled with: development of the economy, job creation, and diversification beyond oil.
In his words: “As a manufacturer of air-conditioning units and refrigerating equipment across decades, we encountered so many challenges and this prompted us to look for a solution to help us overcome those challenges.
“This search gave birth to the Quality Life Improvement Plan, a formula that has been successfully test-run with leading commercial banks, co-operative societies, and citizens.
“QLIP is positioned to help promote local consumption, which enhances local manufacturing with a chain effect across the economy. What this translates to, in the final analyses, are increased government revenue, technological development, and increased Gross Domestic Product, while improving Nigerian’s quality of life and
TheNewsGuru.com (TNG) reports that QLIP is coming at a time when the high cost/scarcity of foreign exchange, customs duty, and power supply have forced a lot of manufacturing companies to go under.
“To cap it all, the increasing demand for foreign goods by consumers is draining national reserves, and further straining the national economy. Hence, QLIP’s tested blueprint for a national consumer credit scheme encouraging consumers towards made-in-Nigeria goods has attracted positive reactions.
“When we patronize made-in-Nigeria products, the impact on our economy will be
enormous and it will help companies favorably compete with their foreign competitors,” Otunba Abdul-Bojela asserted.
At the event tagged; “FGN Consumer Credit Guarantee Scheme for Made in Nigeria Goods and Services” Otunba Abdul-Bojela noted that every economy needs radical innovation to keep it growing and evolving, saying “the Consumer Credit Guarantee Scheme is one innovation that will help the country leap- from decades of economic down-turn and become the harbinger of Africa’s industrial revolution.”