The Manufacturers Association of Nigeria (MAN), Ikeja Branch, has called for urgent and deliberate policy reforms to address high energy costs, interest rates, multiple taxation, poor infrastructure, regulatory bottlenecks, draconian policies and other challenges constraining productivity and investment.

It made the call at the 59th yearly general meeting (AGM).

Chair, MAN Ikeja Branch, Thomas Osobu, said the yearly conference provides an opportunity for manufacturers to reflect on their achievements, confront the challenges facing the sector and chart a path to sustainable growth and national development.

Osobu expressed appreciation for the unwavering support from manufacturers that has kept the branch active over the years, noting that the theme was timely and significant because the future of Nigeria’s manufacturing sector would largely be shaped by the implementation of policies governing the operating environment.

Hailing manufacturers who he said continue to demonstrate resilience despite the numerous challenges confronting them, he regretted that issues around logistics, inadequate infrastructure and an increasingly complex and challenging operating environment continue to weaken productivity, competitiveness and investment.

He stressed the need to strengthen constructive dialogue between government and the private sector.
“As manufacturers, we firmly believe that well-conceived and consistently implemented policy reforms can unlock industrial productivity, stimulate investment, encourage innovation, create quality jobs and position Nigeria as a globally competitive manufacturing hub,” he said.

Osobu said the association looked forward to robust and solution-driven discussions that would generate practical recommendations capable of driving the next phase of industrial expansion in the country.

The Ologba of Ogba Kingdom, Oba Egbeyemi Latif Oladimeji, described the theme of the AGM as timely and thought-provoking.

He said while policies were essential to industrial development, consistency, effective implementation and a stable business environment are more important in giving investors the confidence to plan.

The traditional ruler said he had witnessed firsthand the positive impact of industries on communities through employment generation, skills acquisition, infrastructure development and corporate social responsibility (CSR).

He encouraged continued collaboration between manufacturers and traditional institutions to create peaceful and investment-friendly communities.

However, he expressed sadness that the government had abandoned manufacturers and paid deaf ears to their numerous concerns, urging the state government to partner with them in developing favourable policies that would drive real sector growth.

“I urge stronger and more institutionalised engagement between the Lagos State Government and MAN and create workable solutions in partnership with manufacturers. When government listens to industry, industry grows and in turn, employment grows and communities become more stable,” he said.

Representing the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, the Director of Commerce, Segun Aloba, said the state remained committed to the growth of manufacturers in Lagos.

She described manufacturing as the engine of job creation and the foundation upon which national prosperity is built, adding that despite the challenges confronting the business landscape, manufacturers remained tenacious.

She said the 10-year Lagos State Industrial Policy (LSIP) framework was designed to rebuild the real sector and increase its contribution to gross domestic product (GDP) to as high as 25 per cent from the current nine per cent.

MAN President, Francis Meshioye, said the current operating environment is tainted by high interest rates and unsustainable energy costs.

He noted that monetary policy tightening had pushed lending rates to prohibitive levels, while erratic electricity supply and multiple taxation continually erode the competitiveness of manufacturers.