FG, MAN Collaborate on Revamping Manufacturing Sector

• As FG pledges to speedily implement actionable roadmap, policy framework for the sector.

 

In a bid to rescue the manufacturing sector from its challenges, bolster growth and contribute immensely to the nation’s economy, the Federal Government has joined forces with the Manufacturers Association of Nigeria (MAN) for actionable roadmap and policy framework for the sector.

Vice President Kashim Shettima assured while declaring open a three-day National Manufacturing Policy Summit at the State House Conference Centre, Abuja, that if presented, the roadmap and policy framework would be speedily implemented to effect the needed changes that will revamp the sector.

According to a statement by Senior Special Assistant to the President on Media and Information, Office of the Vice President, Stanley Nkwocha, Shettima regretted that the sector, which has a crucial role to play in building a nation driven by production and abundance, had endured a series of setbacks over the past decades.

“Distinguished ladies and gentlemen, I implore us all to leverage this summit to develop an actionable roadmap and policy framework, ready for immediate implementation, to create the changes we want in the manufacturing sector. I assure you that we shall always maintain an open-door policy to accommodate your needs and expectations,” Senator Shettima stated.

The Vice President also called for the prioritisation of local content and promotion of made-in-Nigeria products, noting that Executive Order 003 which makes the patronage of locally manufactured products mandatory is still in effect.

“Let us be reminded that we cannot achieve significant progress in our drive for industrialisation unless we deliberately promote the production of capital goods. We must be focused on expanding our production base, prioritizing local content, and promoting made-in-Nigeria products.

“I want to assure you that Executive Order No 003 – Support for Local Content in Public Procurement by the Federal Government, which mandates the patronage of locally manufactured products is still in effect. The relevant government Ministries, Departments, and Agencies (MDAs) are mandated to fully comply with the order,” he stated.

Shettima also observed that as a country in Africa, “a continent that has languished at the bottom of the global value chain, with its share of global manufacturing at less than two percent,” Nigeria has no better option than to support its indigenous firms to produce locally and increase their capabilities.

According to the VP, the summit offers the opportunity to re-evaluate the challenges confronting the sector and proffer solutions that would resolve them, even as he noted that a competitive manufacturing sector would reduce the inequities in the nation’s economy as well as overdependence on imports.

He stated “Our proposal to minimize the economic imbalances in the nation is based on strengthening the production base of our economy, particularly in manufacturing.

“Most of our setbacks as a nation, as each of you knows, are due to over-dependence on imports for even our basic necessities. That is why we need you to address the various challenges facing the sector and ensure we have a competitive manufacturing sector.”

VP Shettima voiced his satisfaction with what he saw during a tour of the exhibition, saying that he is convinced more than ever of Nigeria’s industrial capabilities, creativity, and innovation.

The Vice President harped on the role of manufacturing in driving the nation’s wealth, job creation, living standards, and revenue generation, stressing on why President Bola Ahmed Tinubu is focused on accelerating infrastructure projects, including roads, ports and energy supply.

“It is essential to expedite the delivery of infrastructure projects that will enable the sector to leap forward and thrive. This is why His Excellency President Bola Ahmed Tinubu’s focus on roads, ports, and energy supply is strategic,” the VP added.

The VP described the five pillars of the summit as a clear roadmap for stimulating the manufacturing sector, noting that it is imperative to enact meaningful change and develop industries by addressing critical issues under each of these pillars.

VP Shettima listed them to include upscaling productivity and competitiveness, energy security and infrastructure development, improving the macroeconomic environment and ease of doing business, promoting Made-in-Nigeria products and local content development, and leveraging regional and continental trade for export development.

Earlier, President of MAN, Otunba Francis Meshioye, thanked participants for honouring the invitation after several postponements and also expressed gratitude to President Tinubu, for the unique opportunity and his magnanimity to host the Summit in the State House.

Meshioye said since the association opened communication with the office of the Vice President and have been receiving tremendous support and collaboration from the Presidency.

He hinted that the summit was organised to interrogate the evidence behind the constraints demeaning the performances of the industrial sector and to think and agree with the government on what to do to address them.

“The ultimate goal of the meeting is to reposition the sector on the path of accelerated growth, enhance its competitiveness and reap its multiplier effect on the economy and the wellbeing of the citizenry,” President of MAN said.

Meshioye, while highlighting the problems diminishing growth in the sector, noted that “the prevailing microeconomic environment places severe strains on the manufacturing sector,” adding that “this is adversely affecting jobs and people’s livelihoods of the citizens.”

On his part, former Minister of Finance, Olusegun Aganga, urged the government to declare manufacturing a national priority sector.

Aganga opined that the mere possession of natural resources does not guarantee national wealth, adding “What makes a country rich is what it does with its resources.”

The former Minister of Finance called for a shift from peasant farming to commercial agriculture and from artisanal mining to attracting major miners.

Aganga recommended eliminating excessive customs duties, levies, and overlapping regulatory mandates to boost the manufacturing sector.