MAN is
currently collaborating with Manufacturing
Partnerships for African Development (MPAD) to hold an Expo in Lagos, March,
2016, where it hopes to meet thousands of industry experts as a way of
realising that dream.
The Chairman,
Economic Policy Committee (EPC) of
Manufacturers Association of Nigeria, Reginald
Odiah, who made this disclosure, stated that: “My
vision is to see a Nigerian manufacturing sector that is developing and
achieving a GDP growth of 5% per annum for the next four years.”
The
Association however called for a massive investment to take the Nigerian
manufacturing sector to the next level, adding that they hope “that the expected investment will come from two fronts –
internally from local investors who will take advantage of new government
policies and support via the Central Bank of Nigeria (CBN) and Bank of Industry
(BOI) to expand their existing businesses and move into new areas of
manufacturing. And then foreign investors who will want to take advantage of
the new government policies and the investment climate.”
Moreover,
thousands of Nigeria’s leading manufacturing experts will meet for the third
annual MPAD & inaugural Nigeria Manufacturing Expo (MAN Expo) in Lagos from
15-17 March, which will be launched in response to the government’s commitment
to industrialisation and Nigeria’s need to diversify.
However, he
added that the country is full of business opportunities that investors can tap
to offset the current economic crash.
In his own words:
“To the prospective investors I say that Nigeria has
very wide and unexploited business prospects ranging from solid mineral
exploitation to Agriculture/ Agro-allied etc. There are opportunities for
investors that have true love and interest in investing in Nigeria. The laws of
the land are becoming more liberal and investor friendly.”
He argued
that 2015 was particularly a difficult year for local manufacturers, “reason being that it is an election year and government
attention was majorly drawn into electioneering and winning the elections. Very
little attention was paid to other sectors of the economy, especially
manufacturing as is usual at these times. We are hoping and looking forward to
Government now giving more time to the Real Sector – Manufacturing and
Agriculture. We hope to prepare ourselves working with Government towards
addressing the challenges of moving the real sector forward in 2016.”
(Vanguard)
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