The Manufacturers Association of Nigeria (MAN) has tasked the Minister of Industry, Trade and Investment on a new industrial policy in her tenure.
“It will be great if your tenure births a new Industrial Policy for the country,” the association stated
It stated that the vision of industrialized Nigeria would remain an illusion until we resolve the bidding constraints that affect the ease of doing business in the country.
“Honourable Ministers, in going forward, Nigeria at this point in our economic development needs to establish synergy between our trade and industrial policies. It will be a great legacy if this is achieved during your tenure because industry and trade are under your portfolio”
The group which spoke through Otunba Francis Meshioye, President, Manufacturers Association of Nigeria (MAN ) at the opening ceremony of the 2023 edition of the Seventh Nigerian Manufacturing and Equipment Expo NME and Ninth Nigeria Raw Material Expo holding in Lagos, also pointed out indices that show a country is having a thriving manufacturing sector.
He said that improved political stability; growing investment prospects; business-friendly trade agreements; Industry 4.0; enforcement of policies empowering start-up and female manufacturers; in addition to governmental funding solutions, to name a few, are pivotal factors demonstrating a positive and thriving manufacturing future.
The MAN President stated that despite concerns that the African continent lacks the requirements for global advancements to capitalise on innovative technological initiatives, African countries are uninhibited by infrastructure legacy challenges, thereby providing a higher degree of flexibility than their developed counterparts.
Accordingly, Industry 4.0 remains a considerable opportunity for African manufacturers, ultimately giving the continent a cutting edge over the global economy.
“Beyond manufacturing, all industrial and commercial businesses in the country also suffer from energy inadequacy and inefficiency. It is for this reason that investors in the economy will continue to push for a sustained effort to bring about significant improvement in the quantum, quality and consistent supply of electricity. “
Commenting on the event, MAN stated that It is safe to say that it resolve is to be back and better given the value an event of this nature offers the sector. “Both exhibitions have continued to serve a great purpose in improving the status of the nation’s manufacturing sector, particularly with the representation of the entire manufacturing value chain at the Expo Floor since inception in 2016.”
“Through this annual event which provides a common ground for large manufacturing organizations and SMEs to explore new production processes that will increase their production output; MAN has taken the challenge of leading the manufacturing sector to play a vital role in the nation’s vision of becoming one of the leading industrialized economies in Africa.”
“The NIRAM Expo is aimed at creating a platform where stakeholders in the raw materials supply chain will come together to synergize, display and trade in available resources and raw materials with the users of these products.
With this in mind, we intend to close the information gaps and encourage local sourcing of available raw materials by manufacturing industries which is in line with Government backward integration programme.”