COMFORT EKELEME
The Manufacturers Association of Nigeria (MAN), Anambra State Government and other stakeholders have called for increased support for the manufacturing sector to drive Nigeria’s economy.
The call, according to them is part of efforts to reshape Nigeria’s economy from oil-based to focus on non-oil exports to drive economic growth and reduced the current economic challenges the country is facing.
They made the call recently in Enugu at the 36th Annual General Meeting (AGM) of MAN Anambra, Ebonyi, Enugu chapter.
Speaking during at the event themed “Revitalising Nigeria’s Economy Through Manufacturing -Driven Non-Oil Export”. , the Chairperson, MAN Anambra, Enugu and Ebonyi, Mrs. Ada Chukwudozie, said Nigeria needs a paradigm shift from what it used to be in terms of export by supporting manufacturing segment of the country.
She said that manufacturing was gradually becoming extinct, due to reliance mainly in oil sector posed which posed a significant challenge that include price volatility, environmental degradation and limited economic diversification.
According to her, to ensure economic sustainability, the country must diversify and develop critical sector that drive nonoil sector.
Chukwudozie noted that several countries had successfully implemented manufacturing driven nonoil export strategies to drive economic growth and diversification.
In her word: “Singapore is a remarkable example that has driven manufacturing to driven nonoil export as they focus on innovation, research and development.
“To sustain this, we must prioritise investment in infrastructure, education and research to develop a skill and innovative workforce.
“We must develop policies that support manufacturing such as tax incentives, trade agreement and access to finance, focus on the development of high value added product and services that can compete globally.
“We in the manufacturing sector have challenges such as funds, market for the product, unhealthy competition, high production cost, lack of critical production inputs and unfriendly investment environment,” she said.
Also speaking, former Director-General, Nigeria Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, said investment in manufacturing sector was a master key to solving the economic challenges facing Nigeria.
Dakuku, who is the Keynote Speaker, explained that when support were being given to manufacturing, more persons would invest, innovate, generate more product and become source of earning for the country
According to him, export driven manufacturing can help to achieve high growth trade and serve as import substitution.
“Manufacturing of nonoil export has proven to be the major tool for diversifying the economy and reducing Nigeria vulnerability, fluctuation in oil price and Nigeria should stop depending on oil and gas but focused on production.
“For manufacturers to do well and export trade to grow, we need to develop our infrastructure such as the railway, airport, seaport and road network for movement of goods and services as well as ensuring competitive workforce.
“We also need to fix our power, provide incentives for manufacturers like export subsidy like tax free on certain export and ensure stability of monetary policy, interest rate as they influence manufacturing sector,” Dakuku said.
Also speaking, the Deputy Governor of Anambra, Dr Onyekachukwu Ibezim, called for collaboration among the states in the southeast region to invest and support manufacturing sector.
Ibezim a Special Guest of Honour at the event, while describing Gov. Charles Soludo as a visionary leader, said the Southeast states should learn from each other, cross-fertilise ideas and begin to work on the challenges affecting the non-oil sector in the zone.
“Systematically we need to identify those areas that has comparative advantage with production and in Anambra, we are doing something different in Agriculture as we are doing revolution in palm tree and coconut”.
