MAN set to host 51st AGM, Made-in-Nigeria Products Exhibition, Adeola Odutola Lecture/Presidential Luncheon

 

Manufacturers Association of Nigeria (MAN) has announced its forthcoming 51st Annual General Meeting, (AGM) scheduled to hold from October 17 – 19, 2023 at the Lagos Oriental Hotel, Victoria Island, Lagos.

President, Manufacturers Association of Nigeria, Otunba Francis Meshioye made this known during media briefing ahead of the 51st AGM with the theme: “Setting the Agenda for Competitive Manufacturing Under the AFCFTA: What Nigeria Needs to do”.

Meshioye commended the media for their unwavering support in championing the Association’s advocacy drive and by extension the course of the manufacturing sector of our beleaguered economy through veritable channel for sensitization, enlightenment, and dissemination of information on vital issues to the public domain.

In his words:“In general, we are focused on the role of the manufacturing sector in the actualisation of the African Continental Free Trade Area Agreement and the integration of the African economy as envisioned in the Agenda 2063: “The Africa we want”.

“Currently, the cost of manufacturing is daily rising owing to scarce and unavailable manufacturing inputs that continue to shrink profitability and threaten the existence of the critical sector of the economy.

“More worrisome is the fact that the sector that should propel job creation, productivity, and economic growth is enmeshed with series of challenges that constantly limit its contribution to the Gross Domestic Product.

“Such challenges as epileptic power supply, insecurity, inadequate infrastructure, shortage of forex and naira depreciation are prevailing issues that are impacting negatively on the sector. If Nigeria manufacturers will compete effectively, then a comprehensive and concerted effort needs to be deployed by the Government to overtake the binding constrain that limit local production and then seek to attract foreign investment that will bring about a reduction in the forex chase and ensure sufficient forex inflow that the country clearly requires.”

MAN president stated that with a new administration steering the seat of governance, it is pertinent that all hands must be on deck to achieve a vibrant economy that can compete favourably.

According to him, “To start with, the government needs to prioritise investment in infrastructure and power, combat insecurity and corruption as well as introduce incentive policies that would make domestic production more attractive as against the importation of finished products. “The AfCFTA window should be maximised in such a way that products manufactured in Nigeria would be the preferred in terms of quality and pricing. Until we address the binding constraints that make the local products uncompetitive, the benefit of a continental market might end up being a mirage for the largest economy in Africa. “In the face of these shortcomings, we remain resilient and committed to our collaborative advocacy approach, as we strive towards the attainment of practical ease in doing business.

“We seek an atmosphere that supports favourable competition, with our counterparts in other countries, particularly within the continent. Our commitment in addressing the challenges from where the shoe really pinches informed the choice of our Guest Speaker for the 3rd Adeola Odutola Annual Lecture. Our Distinguished Guest Speaker is Nigeria’s former Minister of Finance and Chairman of the Economic Management Team from 2010 to 2011, and later Minister of Industry, Trade and Investments from 2011 to 2015.”

Olusegun Aganga CON, who is the Guest Speaker for the lecture was a major contributor to making Nigeria the premier destination for investments in Africa and also responsible for many transformational milestones in Nigeria including establishing the country’s Sovereign Wealth Fund, issuing the Nation’s first Euro bond, structuring and sourcing the finance for the first standard gauge rail in Nigeria, as well as developing the country’s Industrial Revolution Plan.

Meshioye hinted that the Association’s goal is to brainstorm at the AGM, dwelling on the theme for the purpose of suggesting a policy direction for the new Government; hence Olusegun Aganga CON, former Managing Director of Goldman Sachs in London, is billed to bring his wealth of experience on board as they jointly engage on the theme at the 3rd edition of the Adeola Odutola Lecture.

He highlighted that the programme will as usual run for three days at the Lagos Oriental Hotel, Victoria Island, Lagos as follows: 1) Opening Ceremony of the 3day Made-in-Nigeria Products Exhibition scheduled for 10 am prompt.

The exhibition, he said, will be a convergence of industry players, marketers, as well as consumers to experience a new world of quality products that are made in Nigeria and ultimately attract patronage of locally manufactured goods and this will hold on Tuesday, October 17, 2023

2) The 51st Annual General Meeting which is a strictly MAN members affair holds on Wednesday, October 18, 2023, whilst the exhibition of products Made in Nigeria continues at the Grand Ball Room of the same venue.

3) The third edition of the Adeola Odutola Lecture/Presidential Luncheon is scheduled for Thursday, October 19, 2023.

“For the manufacturing sector to become competitive, we must all not rest on our oars until we can boost of a sector that guarantees the sustainability of the economy and improvement in the standard of living of majority of the citizens,” MAN president added.