The Manufacturers Association of Nigeria (MAN) has linked federal government’s inconsistent policies to declining growth of the nation’s manufacturing sector.
According to MAN, the declining growth rate is not unconnected to the fact that the policies are acting negatively on the sector, noting that, manufacturing concerns, especially, Small and Medium Enterprises (SMEs) have closed shops.
The MAN president, Engr. Mansur Ahmed, at a press conference to announce its 50th Annual General Meeting (AGM) scheduled to hold on the 17th, October, 2022, lamented that, poor policies, especially, tax policies and unavailability of finance for investment and operations have clearly impacted the sector negatively.
He however, stated that the theme of the 50th AGM tagged: ‘An Agenda for Nigeria’s Industrialisation for the Next Decade’ is borne out of the need to take stock of the nation’s journey to industrialisation, to ascertain the pains and to highlight the performance limiters; recognise the gains and growth milestones; and to identify the learning curves and hurdles ahead.
He added that, over the years, the performance of the manufacturing sector has been constrained by numerous familiar challenges that are clearly espoused in its numerous presentations and submissions to the government.
Ahmed said, it a matter of great concern to its members that even as the economy continues to experience very slow growth, policymakers at all levels continue to compound the situation by introducing new taxes, further worsening the difficult and high-cost operating environment.
On the shutting down the Dangote cement in Obajana area of Kogi State by the state government, he said, it is indeed worrisome, pointing out that, it is a matter of concern that a State government would take measures to shut down a plant that provides job opportunities, economic activities on a very large scale for the people of Kogi State.
He added that the move is totally illegitimate, pointing out that, if the state government has any issue against any member of its association or corporate citizen, the appropriate thing to do is to take the member to court.
He said, the association has taken up the matter to the ministry of Industry, Trade and Investment in its bid to help address the anomaly.
