Manufacturers association exhibits support for made-in-Nigeria products.
At the opening of the Manufacturing Association of Nigeria (MAN) three-day exhibition tagged made-in-Nigeria that was held in Lagos, the exhibition, which took place from October 17-19, 2022, and features 100 exhibitors, was one of the activities to mark MAN’s 50th annual general meeting. During the event, the association (MAN) emphasized the need for people to value and patronize goods and products that were produced locally in order for the country to achieve a self-reliant economy.
Since MAN’s goal in hosting the exhibition is to promote domestically produced goods, it has worked tirelessly to encourage not just the Nigerian government but also the general public to buy products with the Made in Nigeria label. Speaking at the event, Mansur Ahmed, the President of MAN, made the following statement in the affirmation that achieving self-reliance would not only improve and deepen our economy but would also position us to play a dominating role in the emerging continental market.
Government needs to set an example by purchasing Nigeria-made products.
Ahmad advocated the patronage of made-in-Nigeria products in order to accomplish the goal. He added that the association has continuously urged the federal government and all its agencies to lead by example, by making sure that all procurements and purchases of goods needed by the government are produced by manufacturers in Nigeria. This is because it is only then that the government and all other partners can now encourage other Nigerians to buy made-in-Nigeria goods rather than imported ones willfully.
Furthermore, he pointed out that the economy of the country has been struggling over the past few years, not only as a result of external factors like COVID-19 but also as a result of policy directions, which have not been helpful to the local economy. However, both Executive Order 003 and Executive Order 005 highlighted the determination of the federal government to increase domestic production by favoring commodities that were manufactured locally in Nigeria. In this context, the Presidential Committee on its Monitoring of the Implementation of Order 005 ought to get to work right away, or at the very least be asked to do so.
Business-friendly policies will solve foreign exchange shortages.
Recently, Nigerian manufacturers have been having a difficult time gaining access to the foreign currency that is required of them to import raw materials, replacement parts and machinery because the foreign exchange shortage continues to get worse. However, the creation and execution of business-friendly policies have been highlighted as a potential solution for this long-time problem of a lack of available foreign exchange for businesses to use in getting necessary materials and meet demands.
The association believes that it is vitally necessary that, at this point in time, when the government is taking into consideration the economic policies and programs that have been developed to bolster the economy, implementation receives the critical and particular attention that it deserves, Ahmad added that they want to reassure everyone that the Manufacturers Association of Nigeria and the industry as a whole will respond to the situation and ensure that they build on the existing capacities and continue to enhance the quality of our goods as well as our competitiveness, despite all of the challenges that they are up against.
Hassan urged the CBN Governor to contribute to the sector’s growth.
Moreover, speaking on the same, Hassan Adamu, a former president of MAN and the event’s guest speaker, stated in his remarks that the fate of the industry in Nigeria would depend on whether or not we think outside the box. Then, he used the media to urge the Governor of the Central Bank to provide the industry special attention and allocation, implement policies that would boost exports, and also permit people who have a foreign exchange to maintain and access it.
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