Manufacturers want government to make its backward integration policy more workable for them.
They made this demand at the ongoing Nigerian Economic Summit in Abuja.
The Nigerian government launched a backward integration policy several years ago.
It was to stem the importation of raw materials for value addition in the manufacturing sector.
A number of the local manufacturers at a policy commission session at the NES 2017 have tried backward integration in raw materials sourcing but had mixed reactions.
A UK-based consulting firm has carried out a study on the country’s local content policy with backward integration included.
It’s findings show backward integration requires more funding for the manufacturer which means higher product costs for consumers .
It now wants the authorities to intensify efforts at enabling a more conducive business environment.
The manufacturers also seek better operational support from the authorities.
The industrialists were optimistic that it will help influence government’s local content initiatives in their favour.
