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Nigeria To Save N20bn Annually In Local Shoe Production

Nigeria To Save N20bn Annually In Local Shoe Production

The Director General, DRDB, Air Vice Marshal Jomo Osahor said the Memorandum of Understanding (MoU) between the Nigerian Institute of Leather and Science Technology (NILEST), Kaduna State, and Defence Research and Development Bureau (DRDB) on research and development of footwear for the Armed Forces will save Nigeria about N20bn annually from importing military shoes into the country,

Speaking at the signing ceremony in Abuja, Osahor said it would also help to provide employment and build capacities. The Permanent Secretary, Federal Ministry of Science and Technology, Mr. Bitrus Bako Nabasu, said the MoU is part of the drive to diversify the economy and conserve foreign exchange. He added that the initiative would also help in the effective exploitation of natural resources.

According to Nabasu, the ministry is committed to implementing the MoU.Earlier, the Acting Director General, NILEST, Dr. Eucharia Oparah said the bilateral partnership would reduce capital flight and promote made-in-Nigeria goods.

Source:- Guardianng

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