The Role of Local Content Foundry Finished Products, the Community, and the Effect of Fragile Economy in Nigeria

Foundry technology is a branch of engineering that deals with melting and casting metals and non-metals alike to produce useful products required in a community, such as farm implements, household utensils, light weapons, and other engineering components. The demand and supply of these products now play an important role in the life of our people residing in various communities and localities across all geopolitical zones in Nigeria, where most of them are poor peoples only rely on farming, fishing, knitting, and other small-scale businesses that can run locally among themselves. According to the result of this research show that the products coming out from this industry help in giving affordable prices without compromising quality or durability compared to the imported products from the Western world that have higher forex manipulation and currency variation with multiple taxes, which translate to exorbitant prices beyond the reach of the Nigerian common man and woman. This higher inflationary mode forced the common people in Nigeria to search for the best alternative to avoid the unbearable system of our present fragile economy in the country, where insecurity, unemployment, and massive corruption have taken center stage, fueled by the removal of fuel subsidy/energy subsidy, high cost of food items plus multiple taxes and low wage remuneration that nowadays people complain very bitterly. The working method, raw materials, equipment, staff, and working capital are sourced with zero interest rate seamlessly, as the prices in various components are relatively affordable.