The Manufacturers Association of Nigeria (MAN) has emphasised the urgent need to address the constraints hindering the competitiveness of local products to revitalise the economy.
MAN president, Chief Francis Meshioye stated this at a news conference in Lagos, ahead of the association’s 52nd Annual General Meeting (AGM) scheduled for Oct. 22 to Oct. 24.
The theme for the AGM is “The Imperatives of an Intentional Development of the Nigerian Manufacturing Sector.”
Meshioye said that the need to address the constraints binding the real sector was critical, otherwise the economy might continue on a downward trend with no certainty of rebound
He said manufacturers, as critical stakeholders in the Nigerian economy, would continue to play their role of presenting to government policy inputs and options.
He noted that within the last one year, the Nigerian economy had witnessed many happenings, with the business environment heavily impacted by the developments.
“We shall continue to partner with governments with a view to co-creating innovative solution that will free the Nigerian economy from its lacklustre performance.
“We are also committed to helping to place it on the path of productivity, sustainable growth and development,” he said.
The MAN president stated the choice of the theme for the event speaks volume about the direction and resolve to birth a thriving manufacturing sector.
He added that it was couched with a deep reflection on the growth trajectory of the manufacturing sector in the country.
Meshioye noted that the high and rising in many cases threaten the existence of many operators in the manufacturing sector of the economy.
Meshioye noted that the sector, crucial for job creation, productivity, and economic growth, is burdened by various challenges limiting its contribution to the Gross Domestic Product.
Speaking on the expected activities for the AGM, he disclosed that Mr Samaila Zubairu, President, Africa Finance Corporation, would speak on the theme.
“He has been a champion of African value creation, job growth and industrialisation, directing billions into transformative infrastructure over the past three decades.
“From his antecedents, it is evident that we have the choice of a speaker to follow in the trend of our great minds to share their perspectives.
“The opening ceremony and exhibition will be a convergence of industry players, government officials, marketers, as well as consumers to experience a new exposure to quality products that are made in Nigeria and ultimately attract patronage of locally manufactured goods.
“Our Special Guest of Honour on this occasion is the President of the Federal Republic of Nigeria, President Bola Tinubu, alongside other ministers, heads of departments and agencies, the diplomatic corps, and other stakeholders,” he said.