MAN Urges FG To Save Manufacturing Sector From Extinction

• Urges FG to prioritize non-oil export strategies

Chairperson of the Manufacturers Association of Nigeria (MAN) for Anambra, Enugu, and Ebonyi, Lady Ada Chukwudozie, has called on the Federal Government to save the manufacturing sector in the country from extinction.

She made the call while speaking during the 36th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN) for the Anambra/Ebonyi/Enugu chapter, held on Friday in Enugu themed “Revitalizing Nigeria’s Economy Through Manufacturing-Driven Non-Oil Export”.

MAN chairperson emphasized the need for a paradigm shift in Nigeria’s approach to export and called for an increase in investment in the sector to enhance Nigeria’s economy.

She highlighted the importance of supporting the manufacturing sector to drive the change, noting that manufacturing is on the brink of extinction.

Lady Ada Chukwudozie, said that the association recognizes the significant challenges posed by Nigeria’s overreliance on oil, which has exposed the country to challenges like price volatility, environmental degradation, and limited economic diversification.

She maintained that to ensure economic sustainability, the country must diversify and develop critical sectors that drive the non-oil economy.

She stated further that several countries have successfully implemented manufacturing-driven non-oil export strategies to promote economic growth and diversification.

“Singapore is a remarkable example that has driven manufacturing to nonoil export as they focus on innovation, research, and development. To sustain this, we must 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.

“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,” she said.

The former Director-General, Nigeria Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, who was the keynote speaker, said investment in the manufacturing sector was a master key to solving the economic challenges facing Nigeria.

Peterside described manufacturing as the “master key” to addressing Nigeria’s economic challenges, adding that when support was being given to manufacturing, more persons would invest, innovate, generate more products, and become a source of earnings for the country.

He advocated for infrastructure development, stable monetary policies, and power sector reforms to support manufacturers.

Peterside highlighted the potential of export-driven manufacturing to reduce vulnerability to oil price fluctuations, generate revenue, and create jobs, stressing that a strong manufacturing sector is crucial for Nigeria’s economic growth and development.

According to him, export-driven manufacturing can help to achieve high-growth trade and serve as import substitution.

Also speaking, the Anambra State’s Deputy Governor, Dr. Onyekachukwu Ibezim, called for collaboration among Southeast states to leverage their comparative advantages to invest and support the manufacturing sector.

Ibezim cited Anambra’s agricultural revolution in palm and coconut production as an example of non-oil sector innovation.

Ibezim, who was a Special Guest Honour at the event, while describing Gov. Charles Soludo as a visionary leader, said southeast states should learn from each other, cross-fertilize ideas, and begin to work on the challenges affecting the non-oil sector in the zone.

Earlier, the Chairman of the event, Chief Martin Agbaso, lamented that the country embarked on various structural adjustment programme discouraging exports and pushing forward imports.

Agbaso urged all the local government councils to begin maximising various natural resources in their locality to move the nation forward.

The highpoints of the event include the conferring of awards to distinguished Nigerians, a gala Night, and dance session.