The group under aegis of Manufacturers Association of Nigeria (MAN) has donated about N8 billion in cash and N300 million naira worth of palliative materials to both Federal and States Governments. We are sincerely grateful to our frontline health workers and other service providers for their commitments, sacrifice and service to humanity.
The MAN President, Engr Mansur Ahmed disclosed this during the Press Conference organized as part of activities of the 48th Annual General Meeting of the Manufacturers Association of Nigeria held recently in Lagos
“MAN is very aware of the unprecedented trauma that this Covid-19 pandemic has unleashed on human lives, businesses, health systems, institutions and economies around the world. To this end, I sincerely appreciate members of MAN for their support to government when it was most needed to provide palliative as a way to cushion hardship experienced by Nigerians and to contain the spread of Covid-19.
On our part, the President noted that MAN remains resolute to continuously support its members in their pursuit to explore business expansion opportunities to navigate the current challenging times confronting the industry due to Covid-19. Through strategic partnerships, the Association has embarked on a number of engagements that will lead to usher in immediate relief respite and long- term success to Nigeria’s manufacturing ecosystem in the areas of intra-trade facilitation, renewable energy, local and local raw material sourcing amongst others, he added.
According to Ahmed, from all indication, accounts it is clear that Nigeria was not immune to this challenging time as the world manufacturing also experienced inconsistency in production growth indicating an overall economic slowdown, which resulted in job losses, decline in consumer demand and a general deterioration in living standard.
He pointed out that the Nigerian Economy and the Manufacturing Sector performance so far in 2020 has been fragile and slowly sliding into recession as the case is globally.
“Our Economic outlook for the first quarter 2020 found maximum expression in the actual performance of economic indicators, as economic activity in the year was disrupted by the spiral effects of the pandemic.
Outbreak of COVID-19;
“This pandemic disrupted the global supply chain, caused a massive slowdown in the international trade and in our case worsened the already fragile economy. The consequence of this development was that sectoral groups ran short of supplies of raw materials due to disruptions in the global value chain and many still cannot access forex.
The global price of crude oil also crashed leaving the country with no choice than to review downward its expenditure plan for the year.