MAN tasks FG to deploy comprehensive, concerted effort for Nigeria Manufacturers to compete effectively

 

Manufacturers Association of Nigeria, (MAN) has said that for Nigeria to compete effectively, a comprehensive and concerted effort needs to be deployed by the Government to overtake the binding constrain that limit local production and then seek to attract foreign investment that will bring about a reduction in the forex chase and ensure sufficient forex inflow that the country clearly requires.

 

MAN’s president, Otunba Francis Meshioye stated this on Wednesday, in a media briefing for the 51st annual general meeting of the association slated to run from October 17-19, 2023 at the Lagos Oriental Hotel, Victoria Island, Lagos with the theme: “Setting the Agenda for Competitive Manufacturing Under the AFCFTA: What Nigeria Needs to do”.

 

According to him, with a new administration steering the seat of governance, it is pertinent that all hands must be on deck to achieve a vibrant economy that can compete favourably.

 

To start with, he said, the government needs to prioritise investment in infrastructure and power, combat insecurity and corruption as well as introduce incentive policies that would make domestic production more attractive as against the importation of finished products.

 

“The AfCFTA window should be maximised in such a way that products manufactured in Nigeria would be the preferred in terms of quality and pricing. Until we address the binding constraints that make the local products uncompetitive, the benefit of a continental market might end up being a mirage for the largest economy in Africa,” he said.

 

He stressed that, in the face of these shortcomings, the union remain resilient and committed to collaborative advocacy approach, as they strive towards the attainment of practical ease in doing business.

 

He noted that as an organised firm, they seek an atmosphere that supports favourable competition, with their counterparts in other countries, particularly within the continent.

 

Meshioye, MAN’s president, unveiled Olusegun Aganga CON, Nigeria’s former Minister of Finance and Chairman of the Economic Management Team from 2010 to 2011, as the Guest Speaker for the 3rd Adeola Odutola Annual Lecture.

According to him, Aganga is a friend of the house and one who has a vast understanding of the sector and also the subject of discourse.

“Aganga is billed to bring his wealth of experience on board as we jointly engage on the theme at the 3rd edition of the Adeola Odutola Lecture holding on Thursday, October 19, 2023,” he said.