MAN expresses support for FG`s new resource based-industrial policy

MAN expresses support for FG`s new resource based-industrial policy

The Manufacturers Association of Nigeria (MAN) has charged the Federal Government to be prepared to support indigenous manufacturers that have key into the resource –based industrialization being promoted by the government.

MAN believes that providing incentives for this category of manufacturers would go a long way in increasing the interest of more manufacturers in keying into the initiative of government.

Frank Udemba Jacobs, president of the association, made this call in his address to the 43rd Annual General Meeting of the Kano chapter of the association, commended the government for promoting resource-based industrial policy.

“As we are all familiar with the challenges the manufacturing sector is passing through and which your theme points to, I will not dwell much on these here. What we require at this critical time is to be creative and to see how or what we can do to remain in business.

“In this regard, I would like us to continue to key into the resource-based industrialization policy which the Federal Government has adopted. Of course, you are aware that has been canvassing this policy for some-time. I believe this policy would help to reduce the demand for forex to import essential raw materials for production, which has been a major challenge in recent times.” he stated.

Giving insight into the new policy, the MAN `s president disclosed that the policy involves the utilization of the nation`s abundant natural resources in producing the products that the country needs.

He observed that doing that would not come without a cost for the manufacturers urging players in the manufacturing sector to brace up for the challenge by retooling their existing technologies and production processes.

“Government has a lot to do to make this new orientation of resource –based industrialization successful. I am charging government to create attractive incentives for investors who would engage in the processing of the abundant agricultural and mineral resources from primary produce to secondary or intermediate products.

“This would go a long way in attracting potential and current manufacturers into the use of local raw material inputs. In the meantime, Government has to look for viable options of making forex available for manufacturers as we must remain in production” he added.

Furthermore, Jacobs noted that MAN has continue to engage in aggressive high level consultation with the Federal Government, it has also made various submission to the government on how to improve manufacturing environment in the country.

In his address, earlier, at the AGM, Suleiman I. Umar, chairman of Kano Bompai –Kano branch of the association, noted that manufacturers in the state has continued to experience challenging environment.

“Our economy continued to witness serious challenges as result of macro- economic changes, which have resulted in high poverty level, poor infrastructural development, and high level of youth unemployment among others.

“The diversification of other sectors of the economy e.g Agricultural and Mining Sectors has been very slow. The capacity of the Manufacturing sector to create wealth through job creation has continued to decline over the year, thus contributing to unemployment crises in the state in particular and the nation at large” Umar said.

 

Adeola Ajakaiye

Related Posts

Leave a Reply