A report from the Manufacturers Association of Nigeria (MAN) has revealed that the Nigeria Manufacturing and Equipment (NME) Expo 2023, 7th edition is scheduled to take place in Lagos, Nigeria, from November 21st to 23rd. With “Future of Manufacturing” as the theme, the 2023 event will be collaborated on by the Nigeria Raw Materials Exhibition (NIRAM Expo). The group emphasised that this gathering was the only one of its kind in the region, uniting all participants in the supply chain for manufactured products and raw materials. It is the only trade fair in West Africa that caters to the whole value chain in Africa.
According to Segun Ajayi-Kadir, the Director General of MAN, there is not a single country on the face of the globe that is regarded as wealthy, developed, or successful and does not have a thriving manufacturing industry. The manufacturing platform, which will serve as the official gathering for both MAN and the Federal Ministry of Industry, Trade and Investment, will offer opportunities and access that have never been seen before in order to speed up the process of industrialization on the African continent and bring about one of the goals of the AfCFTA.
The industry has the capacity to generate jobs and revitalise the economy.
He pointed out that the industry is the one with the largest capacity to generate jobs, the best position to revitalise the economy, and the best position to determine the route to progress, and he added that for this purpose, governments all over the world provide incentives for manufacturing. The NME Expo will bring together local and international businesses to display new manufacturing technologies that will enable African industries to improve their production while on the African continent.
Furthermore, Professor Hussaini Doko Ibrahim, who is the Director General of the Raw Materials Research and Development Council (RMRDC), revealed that the RMRDC has been fostering fresh investments in local resources-based businesses through a variety of programmes, including the Nigeria Raw Materials Exhibition (NIRAM Expo). This is in an effort to improve capacity utilisation. In addition to this, they are encouraging industries that already exist to acquire the raw resources that they use from within Nigeria.
AfCFTA, an agreement to unite countries’ economies.
Opportunities abound in Africa, notably in the manufacturing sectors of the continent’s economy. Significant benefits, such as diversification of the economy, changes in structure, technical advancement, and job creation, are expected to result from current policy reforms being implemented by the government of Nigeria and other African states so as to utilise the benefits of the AfCFTA. The agreement that would create the African Continental Free Trade Area (AfCFTA) will make it the biggest free trade zone in the world in terms of the number of nations that are participating.
1.3 billion people across 55 nations are linked by this agreement, and their combined GDP is worth US$3.4 trillion. To realise its full potential, however, substantial policy reforms and trade facilitation measures will need to be put in place, with the potential to raise 30 million people out of severe poverty. Stakeholders in the manufacturing industry will be able to network with decision-makers at the NME 2023 who are looking to invest in or construct new facilities, acquire cutting-edge machinery, equipment, and technology, and implement complete, streamlined systems to increase their current output.
MAN and RMRDC effort is geared towards bolstering the financial viability.
Exhibitors participating in this edition are anticipated to come together with more than 200 other leading organisations in the manufacturing, industrial equipment, and supply chain sectors by reserving a spot on the main marketplace in West Africa that serves local buyers and sellers. The joint effort that MAN and RMRDC are putting in at this year’s edition is specifically geared towards bolstering the financial viability of the producing sector and ensuring the continued growth of the Nigerian economy.
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