The Manufacturers Association of Nigeria (MAN) has decried the poor business environment in Nigeria, saying it is hampering the country’s hopes for rapid industrialization and economic diversification.
Speaking at the 2023 Annual Nigeria Manufacturing and Equipment Expo in Lagos, MAN President Francis Meshioye said Nigeria needs a more conducive environment for the productive sector to thrive. He said the current situation makes the vision of an industrialised Nigeria an “illusion.”
The expo, themed “Future Manufacturing: Building a Sustainable Roadmap to the Industrialization of Nigeria,” aimed to connect raw material suppliers with industrial producers to boost local manufacturing.
Meshioye urged the government to improve the ease of doing business, integrate trade and industrial policies, and tackle constraints like poor infrastructure and insecurity. He said assimilating advanced technologies can help manufacturers increase revenue and profits.
Minister of Trade and Investment Doris Uzoka-Anite admitted the need to grow the manufacturing sector given the volatility of the oil market. She said leveraging trends like automation, AI, and IoT can enhance efficiency, productivity, and competitiveness.
Keynote speaker Aliyu Abdullahi lamented that insecurity has hampered the establishment of factories near raw material sources.