The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

MAN seeks backward integration across production sectors, kicks against assembling, packaging

Related

MANWORRIED by the high concentration of investors in assembling and packaging industries rather than core manufacturing businesses, the Manufacturers Association of Nigeria (MAN) has sought the implementation of a backward integration plan and import substitution to drive the growth of the real sector.

According to MAN, encouraging the development and growth of the manufacturing sector is key to economic diversification, as well as job creation, sustained growth and development of other key sectors.

Speaking at MAN’s yearly general meeting in Lagos, on Wednesday, its President, Dr. Frank Jacobs, said: “As a way of defending manufacturing in Nigeria, the association believes very strongly that there should be a paradigm shift in line with the change mantra of the present administration by changing our attitude towards manufacturing from packaging and assembling to actual conversion of the abundant local raw materials into the goods that the country needs.

“To achieve these goals, there is need to urgently address the challenges militating against the growth of the manufacturing sector”.

Jacobs added that government’s efforts to diversify the economy remains weak as the manufacturing sector’s contribution to the Gross Domestic Product (GDP) in Q4 stands at a low point of 9.11 per cent.

“Government needs to address challenges of acute infrastructure deficiency, smuggled and unbridled importation and dumping of cheap and sub-standard finished products, non-availability of functional core industries such as iron and steel and petro-chemical industries, high cost of energy, policy inconsistency among others.

“We hope MAN’s economic/industrial agenda will be helpful in shaping government’s economic and industrial blueprint and policies in a way that the identified challenges will be addressed and reposition the manufacturing sector.


Receive News Alerts on Whatsapp: +2348136370421

No comments yet