Buy Naija to Grow the Naira: Quantitative Assessment of the Effects of Accountability and Transparency of Local Manufacturers on Consumers’ Trust on Locally Made Goods

Abstract

The Nigerian economy has witnessed numerous hitch backs in  the past decade, and the government has been on a continuous push to restore the African giant’s stands in the global economic sphere. One of the recent measures by the government is its buy naija to grow the naira campaign, designed to induce patriotism among its citizens and push for higher exports with the overall aim of increasing its foreign exchange earnings. This research is designed to assess the influence of accountability and transparency of the local manufacturers on the consumers’ trust towards locally made products, with reference to its overall impact on nation building. Questionnaire was hosted via GoogleForm and distributed electronically across Nigeria. A total of 453 responses were gathered. Findings from this study indicate that accountability and transparency significantly, positively influence trust of customers toward locally made products in Nigeria. Thus, it was recommended that as a matter of nation building, local manufacturers need to enhance their accountability and transparency measures as such would improve consumers’ trust towards locally made products. The eventual outcome will be increased purchases and the Nigerian government being able to boost its economy with Nigerians buying naija to grow the naira.