▪︎Segun Ajayi-Kadir , MAN DG
The Manufacturers Association of Nigeria says that to stop the drain on manufacturers in Nigeria, the binding constraints should be addressed, something in the form of a manufacturing summit.
” To address the challenges faced by manufacturers in Nigeria, we need to be intentional about improving the gains of manufacturing in Nigeria. There has to be an agreement between the players and the government on ways to address the challenges,” said Segun Ajayi-Kadir, its Director-General.
In his reaction to the exit of top brands in Nigeria, during his guest appearance on TVC , this week, Ajayi-Kadir emphasised that a manufacturing summit should be held to identify the factors that limit manufacturing performance.
” The primary objective is to initiate a comprehensive conversation aimed at identifying, and understanding the factors impeding manufacturing performance and charting a way forward for the development of the industry.
The need for this dialogue arises from a recognition that manufacturing in Nigeria faces barriers that deter investors and result in an unattractive business environment.
” While seeking foreign investment is important, taking care of local manufacturers is deemed more urgent.“
Ajayi-Kadir emphasises the importance of asking candid questions about why investors find manufacturing unappealing in Nigeria and why the business environment struggles to retain top brands, ultimately leading them to shift operations abroad, turning Nigeria into an import-dependent model.
He underscores the necessity for the government to prioritise the support of existing industries.
While seeking foreign investment is important, taking care of local manufacturers is deemed more urgent.
The success and sustainability of local manufacturers can serve as a powerful indicator for foreign investors considering Nigeria.
The departure of major brands like GSK and P&G from the country could be a DE marketing factor to potential investors, emphasizing the need for more government interventions to safeguard the manufacturing sector,” he said.
By Franklin Ocheneyi