The Manufacturers Association of Nigeria(MAN) has asked the President Tinubu led administration to initiate a new industrial policy for the country to facilitate rapid industrialization.
President of MAN, Francis Meshioye, made the call at the 2023 edition of the Nigeria Manufacturing and Equipment (NME)/Ninth Nigeria Raw Materials Expo in Lagos.
Meshioye underscored the importance of sinergy between trade and industrial policies and a conducive business environment towards realizing an industrialized country.
In his words, “The vision of industrialized Nigeria would remain an illusion until we resolve the bidding constraints that affects ease of doing business in the country.
“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, Honourable Ministers, because industry and trade are under your portfolio.
“In addition, it will also be great if your tenure births a new Industrial Policy for the country. MAN appreciates the current administration support for the manufacturing sector particularly in ensuring that the operating environment becomes increasingly conducive to help businesses thrive notwithstanding the fast-growing competitive environment.”
The MAN President restated the significance of the annual event to the manufacturing community and country.
“This annual market place for stakeholders affords us an opportunity to examine the state of the manufacturing sector and deliberate on the roadmap for development through the Manufacturers Partnership for African Development (mPAD) and Master Class Sessions.
“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.
“The theme of the 2023 EXPO “Future Manufacturing: Building a Sustainable Roadmap to the Industrialization of Nigeria” is informed by the unprecedented rate in which our world is changing in terms of innovative technologies…
“Sifting customer expectations, as well as increasing social awareness of gender equity and restoration of previously marginalized communities.
” These major shifts have a considerable impact on the future of the manufacturing sector. If manufacturers can efficiently balance a combination of efficient economies of production and supply chains; strong and reputable products…
“Loyal customers; an established logistics network; as well as reliable on-line business elements, they will be well-positioned in the future to compete favourably in the industrial marketplace.
“By successfully assimilating advanced technologies into their systems, existing and prospective industrialists can expect to realize even greater revenue and profits from their investments.
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.
“Despite concerns that the 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 sustained effort to bring about significant improvement in the quantum, quality and consistent supply of electricity. ” Meshioye further said.