building trade relations and creating
employment in factories back home.
Meanwhile, Our ―Made in Aba‖ products
make it overseas especially within the
African region but largely under foreign
labels that have no connection with
Nigeria.
Today the story is different, Taiwan has
carved its niche in mobile technology, its
high tech companies are providing key
components to power mobile phones
made in China, Indonesia, India, Brazil,
Russia and others. Taiwanese companies
such as Largan Precision, its best
performing high-tech company, is serving a
niche market, making mobile phone camera
lenses for IPhones and androids that sell
for $400 and above. In his June 2016 article
in Financial Times, Why Taiwan is far ahead
of mainland China in high- tech, Peter
Fuhrman said Largan made over $1 bn in
revenue with a profit margin of 40%, higher
than Apple, its main customer.
Global trade has become a lot more
sophisticated with production lines and
value chains stretching across continents,
Buyers are looking for brands that they can
trust to consistently deliver on the quality
that they want and at the right price, while
companies are looking for the most cost
efficient ways of delivering consistently
good quality products to their customers
at the right price. Take the IPhone for
instance, it is designed in the United States
of America but assembled in Chin with
components from Taiwan how this model
works is mix of innovation, research and
development and manufacturing which are
applied to give buyers a product that they
desire. This intricate value chain is
necessary to deliver the products at the
right quality and price for customers as
well as good returns in earnings for
shareholders.
Made-in-Nigeria: Sectoral
Perspectives
Across various sectors, we can achieve our
goals for Made in Nigeria products to
reach local and international consumers.
However,
our
manufacturing
and
processing capabilities, which have boon
overwhelmed by a myriad of challenges
including weak infrastructure, poor