MAN President Urges Government Action to Revitalize Manufacturing Sector

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Otunba Francis Meshioye, the President of the Manufacturers Association of Nigeria (MAN), delivered a compelling address at the 2024 edition of the MAN Reporter of the Year Award/Presidential Media Luncheon, held at MAN House, Lagos. Meshioye expressed gratitude to attendees and other stakeholders, emphasizing the importance of their partnership in advancing the manufacturing sector’s advocacy agenda.

Acknowledging the crucial role played by journalists in promoting the objectives of MAN, Meshioye commended their dedication and insightful reportage, particularly during the 51st Annual General Meeting (AGM) held in October 2023. He highlighted the theme of the AGM, “Setting the Agenda for Competitive Manufacturing under the AfCFTA,” underscoring the significance of leveraging the African Continental Free Trade Agreement (AfCFTA) for Nigeria’s industrial development.

Meshioye lamented the challenges facing the manufacturing sector and called for concerted efforts from policymakers to prioritize its growth. He criticized recent policies, such as the ban on single-use plastics and restrictions on alcoholic beverages packaging, for their adverse effects on manufacturers and workers. Stressing the importance of collaboration between the government and private sector, Meshioye urged for homegrown policy initiatives to address sector-specific challenges.

Proposing recommendations for sectoral improvement in 2024, Meshioye advocated for cost-saving measures from fuel subsidy to support production, overhaul of the power sector, and incentivizing investment in renewables for energy efficiency. He called for increased patronage of made-in-Nigeria products by the government, enforcement of Executive Order 003, and comprehensive incentives for local raw material sourcing.

Meshioye also emphasized infrastructural development, liquidity enhancement, and transparent forex management to promote competitiveness. He suggested measures to streamline forex and credit allocation, encourage foreign direct investment, and channel diaspora remittances into non-oil sectors. Meshioye proposed collaborative efforts between the CBN and fiscal authorities to align policies and facilitate industrial growth.

Concluding his address, Meshioye congratulated participants of the Reporter of the Year Award, highlighting plans for enhanced advocacy mechanisms and closer collaboration with media partners. He encouraged continued engagement and participation in future events to bolster the manufacturing sector’s contribution to Nigeria’s economy.

Meshioye’s address underscored MAN’s commitment to advocating for policies conducive to the sector’s growth and development, while also recognizing the vital role of media in amplifying its advocacy efforts.

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