The Managing Director of Schneider Electric, Mr. Walid Sheta, has said the country has great opportunity to diversify its economy and generate significant revenue through its local content policy. Speaking at a press conference in Lagos recently, Sheta, whose portfolio covers Nigeria, Ghana, Sierra Leone, Gambia and Liberia, said the ICT local content policy that was introduced by the federal government in 2013, should be able to lead to industrial growth for the country.
"Today, most elements in the manufacturing sector are imported and it will be good if the local content is implemented to increase the local part of production. This will improve the diversification of the industrial part of the economy and could absorb the effect of the drop of crude oil prices. We believe that the local content policy should encourage more local manufacturing that can boost the Nigerian economy, aside oil," Sheta said.
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