• Tuesday, November 05, 2024
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FG, MAN partner to tackle issues hindering industrialisation

Manufacturing investments seen shrinking on high interest rate

Segun Ajayi-Kadir, the director-general of Manufacturers Association of Nigeria

The federal government has partnered with the Manufacturer Association of Nigeria (MAN) to tackle issues hindering the country’s industrialisation drive.

To do this, MAN has concluded plans to host a closed-door manufacturers’ summit with the ministries, departments and agencies from June 4th to 6th, 2024, at the banquet and conference hall, state house, Abuja.

The summit, which is strictly by invitation, is organised in partnership with the Presidency; Ministry of Industry, Trade and Investment; National Institute for Policy and Strategic Studies and EY.

The three-day summit with the theme ‘Rethinking Manufacturing’ is necessitated by the state of the manufacturing sector, which has remained a major concern to the government, industrialists and Nigerians.

Evidently, the theme underscores the need for practical solutions to the myriad of challenges limiting manufacturing performance through the adoption of innovative strategies that can guarantee higher productivity, competitiveness, and sustainability of the sector.

President Bola Tinubu as special guest of honour at the summit will preside over the opening ceremony. Senator Kashim Shettima, will superintend the afternoon session.

“Clearly, the presence of the Presidency underscores the commitment of the government to the revitalisation of the manufacturing sector in Nigeria,” Segun Ajayi-Kadir, director general of MAN said.

“Manufacturers are expecting that the engagements would provide valuable insights on the policy direction, expectations of the government and practical solutions to the binding constraints,” he noted.

According to him, the summit will feature focus group discussions between top level government officials, industry operators and experts; insightful presentations on emerging trends and best practices in manufacturing; exhibition of made-in-Nigeria products and networking opportunities for collaboration and partnership building among others.

In addition, he noted that the summit will delve into critical discussions on how to achieve sustained manufacturing growth through the creation of a conducive business environment, guaranteeing security, boosting agricultural production and strengthening supply chain resilience by leveraging technology.

Finally, the expectation is to reach a consensus with the Federal Government on the imperatives for intentional development of manufacturing in Nigeria and the crafting of a time-framed strategic roadmap for the resolution of the identified challenges and attainment of steady growth for the sector.

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