Manufacturers in Rivers and Bayelsa States returned to the classroom to discuss how to survive amid the Covid-19 pandemic that has ravaged businesses and made importation of critical parts and raw materials almost impossible.
Emi Membere-Otaji, a former president of the PH City Chamber and now national deputy president of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), asked business operators to make the Covid vaccine mandatory at the workplace.
Membere-Otaji, a medical expert and investor, urged manufacturers to return to the original objectives of their companies and to install what he called corporate agility and find how to sell to the over 101 million poor Nigerians. He urged them to instil ability to learn fast and warned that Covid is still in the air.
He said businesses would never return to old ways because most business owners have learnt how to operate from home and reduce physical presence.
Read Also: Manufacturers urge enabling policies, actions to drive economic growth
Membere-Otaji, who is also the CEO of Elshcon Group and chairman of Princess Medical Centre, urged manufacturers to develop risk management strategy and business continuity plans and activate their crisis management plans.
“Now is the time to show transformational leadership qualities and take hard decisions,” he said.
He urged every business to build strong online presence and activate all social media strategies to reach millions. He however warned against those he called digital scammers now roving in the internet space. The former commissioner said bankruptcy is prowling around the business environment.
In his annual report, the chairman of MAN Rivers/Bayelsa, Adawari Michael Pepple, a one-time senator, listed difficulty in accessing funds as one of the factors hindering industrialization, saying most of the huge amounts bandied about as Covid-19 palliative did no get to manufacturers in the zone. He said interest rate rose to 22 percent in 2020.
Pepple also mentioned difficulty in accessing foreign exchange as another problem because manufacturers have been unable to import raw materials and machines. He also agonized over multiple taxes in Rivers and Bayelsa States and urged the two governors to endeavour to do something about this.
Pepple mentioned the ever-increasing electricity rates in the face of poor supply and low patronage of locally-made goods that have accumulated an unsold stock of over N303.22 billion in the 2nd half of 2020 from N202.16 billion recorded in the corresponding half of 2019. Added to this, he regretted, is unavailability of raw materials.
“Utilization of local raw materials by manufacturers in the 2nd half of 2020 declined to 56.5 percent as against 64 percent recorded in the corresponding half of 2019. It is therefore important that government invests more in research and development by ensuring bodies such as Raw Materials Research and Development Council come up with alternative sources of raw materials for our industries,” he said.
Pepple however commended the Rivers State governor, Nyesom Wike, for massive infrastructure in the state and conducive atmosphere for businesses to operate. He said the governor of Bayelsa State has also shown keen interest in agriculture.
