The Manufacturers Association of Nigeria (MAN) has called for policies that promote and encourage production.
Ada Chukwudozie, chairperson of MAN for Anambra, Enugu, and Ebonyi, spoke on Friday at the annual general meeting (AGM) of the association in Enugu.
Chukwudozie said there should be a paradigm shift in Nigeria’s approach to exports, noting that Nigeria can witness significant growth in manufacturing with friendly policies.
She said manufacturing is on the brink of extinction due to challenges, including reliance on the oil sector and limited economic diversification.
“Singapore is a remarkable example that has driven manufacturing from non-oil export, focusing on innovation, research and development,” she said.
She added that Nigeria should “prioritise investment in infrastructure, education and research to develop a skilled and innovative workforce”.
“We must develop policies that support manufacturing such as tax incentives, trade agreements and access to finance, focus on the development of high value-added products and services that can compete globally,” Chukwudozie said.
“We in the manufacturing sector have challenges such as funds, market for the product, unhealthy competition, high production cost, lack of critical production inputs and unfriendly investment environment.”
Dakuku Peterside, former director-general of the Nigeria Maritime Administration and Safety Agency (NIMASA), said the manufacturing sector is key to addressing the nation’s economic setbacks.
Dakuku said when manufacturing is given the required support, it would drive investments and reduce importation.
“Manufacturing of non-oil export has proven to be the major tool for diversifying the economy and reducing Nigeria’s vulnerability, fluctuation in oil price, and Nigeria should stop depending on oil and gas but focus on production,” he said.
“And for manufacturers to do well and export trade to grow, we need to develop our infrastructure such as railway, airport, seaport and road network for movement of goods and services as well as ensuring competitive workforce.
“We also need to fix our power, provide incentives for manufacturers like export subsidy, tax incentives on certain exports, and ensure stability of monetary policy, interest rate, as they influence the manufacturing sector.”
Onyekachukwu Ibezim, deputy governor of Anambra, harped on collaboration among states in the south-east.
“Systematically, we need to identify those areas that have comparative advantage with production. And in Anambra state, we are doing something different in agriculture as we are doing revolution in palm tree and coconut,” he said.
(The Cable)
