The federal government has partnered with the Manufacturers Association of Nigeria to develop an effective plan and policy framework for revitalising the country’s manufacturing industry.
This comes as the Vice President, Senator Kashim Shettima, has assured that if presented, the roadmap and policy framework will be speedily adopted to achieve the necessary adjustments that will revitalize the sector.
Vice President Kashim Shettima has declared the three-day National Manufacturing Policy Summit open.
The vice president acknowledged that the sector, which has a crucial role to play in building a nation driven by production and abundance, had endured a series of setbacks over the past decades.
He called for the prioritisation of local content and promotion of made-in-Nigeria products, and pointed out that Executive Order 003 which makes the patronage of locally manufactured products mandatory is still in effect.
The summit offers the opportunity to re-evaluate the challenges confronting the sector and proffer solutions to resolve them.
The President of Manufacturers Association of Nigeria, Otunba Francis Meshioye, commended the administration of President Bola Tinubu, and specially thanked the VP for facilitating tremendous support and collaboration from the Presidency.
Aliko Dangote, Chairman of the Dangote Group, was forthright in his assertion that the Central Bank of Nigeria’s recent rise in lending rates to around 30% will harm local manufacturing businesses.
In his keynote address, he highlighted the necessity of reliable power supply and affordable financing for industrial growth.
Also, former Minister of Finance, Olusegun Aganga, urged the government to declare manufacturing a national priority sector.
The Manufacturers Association of Nigeria also criticised government policies and attitude, saying they were responsible for the low performance of the manufacturing sector in the country.
But The Vice President also pledged the commitment of President Tinubu’s administration to grow the economy and create jobs.
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