…As Expert Offers Measures To Sustainable Growth
For Nigeria to be able to compete favorably with other African countries in the Continental Market, grow economy and move the country forward; all ties of government and stalk holders in the country have been charged support indigenous manufacturers.
Speaking at the 7th Annual General Meeting (AGM) of Kwara and Kogi States branch held in Ilorin the Kwara State capital, Segun Ajayi –Kadir, the Director General, Manufacturer Association of Nigeria (MAN), noted that the association is committed to helping Nigerians; “that has been our primary mandate but the bigger option is for us to
collaborate to ensure that we live a country that the next generation would be proud of.”
He added that Nigeria has no choice to than to industrialize, in- that there is no nation on earth that has become wealthy or develop that is not an industrialized country.
“It is only by public private partnership that the economy will grow.
We urge government and relevant agencies to pay attention support and prioritize manufacturing sector.
“You have to put your money where your mouth is, the insecurity we are seeing in Nigeria today, it is virtually the manifestation of the neglect that we have had from the vital sectors of the economy principally the manufacturing sector,” said Kadir
Also, the national president of the association Mansur Ahmed, who canvassed for a stronger synergy between the association and the government to ensure a conducive environment for industrialists; declared that “Without strong support from the government; it would be difficult for us to remain in operations and function optimally.”
In his welcome address, Bioku Rahmon, MAN chairman, Kwara and Kogi States branch, said the choice of the theme of the meeting was born out of the recent implementation of AfCFTA now an act in Nigeria.
He expressed concern that Nigerian manufacturers despite their monumental infrastructural weakness and limitations are into competition with other African countries that are equipped with stronger infrastructures than Nigeria.
“Competing with manufactures from other African countries is no longer optional, thus, as industrialists, how do we brace up for this competition in the midst of our woeful and complicated infrastructural challenges and stand chance internationally?.
“If we are to stand any chance of making headway in this competition; host of challenges be seeing the growth of industrialists in Nigeria must be quickly addressed by government,’ he said.
Rahmon, identified, high level of insecurity in Nigeria, sharp and continuous fall in the value of Naira, fast-rising Nigeria’s debt profile and sundry, scarcity of foreign exchange currency, shrinking access to loan and high interest rates, as well as multiple taxation
as obstacles bedeviling indigenous manufacturers.
He urged the Federal and State Governments to rescue them by providing the required infrastructure and institutional backups to enable industrialists adopt the Africa -wide competition.
“We need government support now than ever, we hope that governments will ultimately be responsive to our aforementioned requirements,” he added.
In his submission, Aderemi Madupin (Dr), senior lecturer from Department of Economic, Alhikmah University; posited that there is hope as Nigeria now embrace the principle of economy diversification which paves way for economic boost.
According to him, the whole idea of economic diversification “is very weak, when you talk of economic diversification and after two years you are celebrating the increase in the production of rice; it does not worth celebration.”
He, however, expressed concern over Nigeria’s high dependent on international finished goods and raw materials; narrow export base and wide importation; inadequate power supply; policy summersault; weak economy; among other obstacles hindering development in our country.
On what should be done to ensure that Nigerian manufactures remain in the open market; Madupin suggested that if oil that is largely depended on can be locally refined, other resources be equally tapped for rapid economic growth and self reliant, prioritize digital transformation among other things; Nigeria will get there.
“The CBN promise on single digit interest should be implemented. I advise MAN hold CBN accountable for that. With the AfCFTA implementation, some countries in Africa are entering into partnership with America which will not be in favor of all. Therefore, Africans must recognize they are one and manufacturers must unite,” he added.
Kamoru Abioye Yusuf, CEO KAM Holdings Limited pointed out that, as manufacturers, they are money makers not money breakers thus, industrialists must be accorded high regard.
“I want government to see industrialists as oil in their engine, and respect us for creating jobs and stabilizing economy of the nation. No military man can go to war without bullet proof, no government agency can survive without us, we should be treated fairly.
“We want government to treat us like their wives because we are helping them to eradicate poverty, it is very important to recognize manufacturers as extending machinery for the government. We want governments at all levels to see industrialists as a tool and collaborate with us to make this country a better nation,” he
Arinola Lawal, the Kwara State Commissioner for Ministry of Business,
Innovation and Technology appreciated the MAN for complementing the
government efforts in job creation.
Represented by Salman Abibat, Director of Finance and Supply, the commissioner informed that the state government is taking new dimension to transform Kwara to a vibrant economic state, as she promised to address their yearnings and improve on ease of doing business.