Sterling Bank Nigeria PLC has launched a new platform named “Made By Nigerian (MBN)” to promote quality goods produced by Nigerian entrepreneurs.
This was disclosed by Abubakar Sulaimon, the financial institution’s managing director, while speaking at the bank’s corporate headquarters in Lagos.
According to the bank, MBN is a commercial hub opened to businesses operating in Nigeria and of Nigerian descent. It centers on the purchase and sale of products that are entirely made in Nigeria at market-competitive prices with the goal of promoting Nigerian products and services around the globe.
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. He added, “someone has to look inwards to find out why companies are not growing.”
The managing director of Sterling Bank outlined the advantages of the initiative, claiming that it gives customers the chance to simultaneously experience Nigeria’s past, present, and future; it generates more jobs with each purchase; it increases opportunities for manufacturing output and export growth and development; and it enables local products to understand a customer’s language, culture, and aspirations.
The managing director continued by saying that the bank is dedicated to promoting the items in the neighborhood where the standards may be evaluated and upgraded through astute feedback from the neighborhood that helps the business owners upscale.
Sulaimon gave the assurance that the platform will last since it is a community in which they may not have a strong influence but are prepared to help local entrepreneurs because they have confidence in their competence.
He also expressed confidence that improving the ecosystem would create possibilities for foreigners to visit Nigeria and purchase products created there.
