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  • MAN seeks re-opening of factories sealed by LASWARCO

    MAN seeks re-opening of factories sealed by LASWARCO

    The Manufacturers Association of Nigeria (MAN), on Friday, called on the Lagos State Governor, Babajide Sanwo-Olu, to order the immediate re-opening of factories sealed by the Lagos State Water Regulatory Commission (LASWARCO) over alleged refusal to pay water abstraction fees.

    MAN Director General Segun Ajayi-Kadir, in an open message to Governor Sanwo-Olu, said the sealing of some factories in Lagos State by the Water Commission was “unwarranted and ill-timed.” He, therefore, implored the governor to order the immediate re-opening of the factories.

    Ajayi-Kadir said this will pave the way for a logical and passable conclusion of the ongoing conversations on how to permanently resolve the matter of outstanding fees imposed by the Commission, and also allow for the conclusion of the impending Memorandum of Understanding (MoU) between the Water Commission and the Organised Private Sector (OPS).

     “This is more so that the private sector is currently awaiting the finalization of the text of the MoU from LASWARCO. We are full of expectations that immediate action is taken in the interest of the state’s economy and to forestall a possible degeneration in the already tense business atmosphere,” Ajayi-Kadir added.

    He, however, pointed out that the possible loss of jobs and its attendant socioeconomic implications, as well as the negative signal to the investing public should serve as deterrent and encourage a business friendly regulatory environment.

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    The MAN DG stated that the Association was constrained to convey this open message to the Lagos State Governor, as all attempts at approaching the relevant heads of agencies and ministry failed.

    He said MAN was appalled by “The inauspicious act of LASWARCO in sealing factories over their purported refusal to pay the astronomical and unjustifiable water abstraction fees imposed by the Commission.”

    According to Ajayi-Kadir, “This action is ill-timed and quite unfortunate, as the Commission and MAN had engaged in meaningful dialogue and reached some agreements over the lingering issue about three months ago.”

    He said the dialogue was expected to culminate in an MoU to commence in January 2025, adding that only three weeks ago, another round of discussions took place between LASWARCO and representatives of MAN.

    The effected member companies were also included, which led to ongoing discussions in the companies as to the most viable option for addressing the alleged outstanding payments from earlier contested fees.

    The MAN DG, however, expressed regrets that it was while these discussions were going on and during the Yuletide that the Commission decided to cause this major and unwise shut down of the companies.

    Ajayi-Kadir said: “It is important to properly situate this inappropriate action within the context of the prevailing inclement operating environment in general and the downturn in the manufacturing sector in particular.

     “A situation where industries are burdened with payments in excess of N100 million for generating water for production purpose, in the face of government’s failure to supply same, is unfair.

     “The exorbitant fees and the untoward means of extracting payment exemplify the negative impact of tyranny of regulation on private business.

     “To date, manufacturers across the country are saddled with more than N1.2billion of unsold inventory, borrowing at more than 30 per cent and struggling under a debilitating 250 per cent increase in the cost of electricity”

    He added that numerous taxes, fees and levies by the three tiers of government and non-state actors in some cases, numbering between 60 and 120 confront each manufacturer, not to mention the disruption of production activities due to insecurity and high cost of logistics.

     “To add this oppressive water abstraction fee in Lagos State that may potentially be adopted by other States, presents an ominous and rancorous future for manufacturers in particular and private businesses in general,” the MAN DG insisted.

    He, therefore, called on the Lagos State Governor to use his good office to order the immediate reopening of the closed factories.

  • Labour Minister, others hail MAN’s drive for non-oil export

    Labour Minister, others hail MAN’s drive for non-oil export

    The Manufacturers Association of Nigeria (MAN) in the Southeast geopolitical zone has been applauded for leading the initiative to increase non-oil exports in the country.

    The commendation was given by the Minister of State for Labour and Productivity, Hon. Nkeiru Onyejeocha; Deputy Governor of Anambra State, Onyeka Ibezim; former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside; Chairman of Nathan Group, Chief Martin Agbaso, among other distinguished Nigerians.

    They participated at the just concluded 36th Annual General Meeting of the Manufacturers Association of Nigeria (MAN) Anambra/Ebonyi/Enugu Chapter in Enugu with the theme: ‘Revitalising Nigeria’s economy through manufacturing and non-oil export.’

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    The event also brought together key stakeholders to discuss and streamline solutions to export-related challenges as well as showcase the innovation and productivity of the Southeast region.

    In her address, Onyejeocha, hailed the soaring non-oil exports growth within the Southeast, stressing that if sustained, it would mark a watershed for the economy of the Southeast and Nigeria on the road to diversification of the economy.

  • Inventory of unsold products hit N1.24tr, says MAN

    Inventory of unsold products hit N1.24tr, says MAN

    • N238.31b spent on alternative energy sources in H1 2024

    The inventory of unsold finished products in the manufacturing sector surged by 357.57 per cent year-on-year, reaching N1.24 trillion in the first half of 2024 (H1 2024), the Manufacturers Association of Nigeria (MAN) has said.

    MAN attributed this alarming increase in the inventory of unsold finished products to declining consumer purchasing power due to escalating inflation, subsidy removal, and the devaluation of the naira.

    “The high levels of unsold inventories reflect the challenges faced by consumers and the need for interventions to stimulate demand and improve the sector’s performance,” MAN Director General Segun Ajayi-Kadir said.

    The MAN DG made this known in the ‘Executive Summary’ of finding of the manufacturing sector’s survey by MAN for the first half of 2024 released yesterday.

    He also said cost of providing alternative power continued to rise, with manufacturers spending N238.31 billion on alternative energy sources in H1 2024, a 7.69 per cent increase from H2 2023.

     “The surge in costs was driven by higher prices for diesel, gas, and other energy sources, as well as the need for manufacturers to invest in self-energy generation due to unreliable power supply from the national grid,” Ajayi-Kadir said.

    He explained that the survey was designed to monitor changes in manufacturing sector performance indicators viz-a-viz the behaviours of macroeconomic and policy environments during the period of the survey.

    The focus manufacturing indicators include capacity utilization, production value, inventory, level of utilization of local raw materials, investment, expenditure on alternative energy sources, etc.

    Capacity utilization in the manufacturing sector, according to the survey, showed a slight year-on-year decline to 56.4 per cent in H1 2024, from 56.5 per cent in H1 2023.

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    However, there was a 2.8 percentage point increase compared to H2 2023, reflecting some recovery. “The sector faced significant challenges, including high energy costs due to a 200 per cent increase in electricity tariffs, forex scarcity, and declining consumer demand.

    These factors collectively resulted in elevated operational costs and a difficult business environment for manufacturers,” the document said.

    Manufacturing production value also declined by 1.66 per cent year-on-year in H1 2024, falling to N1.34 trillion from N1.36 trillion in H1 2023.

    Despite this decline, the sector saw a 9.97 percentage increase compared to H2 2023, driven by a baseline effect.

    According to Ajayi-Kadir, the sector’s challenges included rising electricity tariffs, exchange rate volatility, and higher energy costs, which heightened production costs amidst declining consumer demand.

    He added that the persistent increase in interest rates by the Central Bank of Nigeria (CBN) also further strained the sector.

    Also, the sector’s employment generation capacity continued to decline, with only 2,606 jobs created in H1 2024, a 29.99 per cent reduction from H2 2023.

    Year-on-year, job creation fell by 37.83 per cent, reflecting the ongoing challenges within the sector, including economic uncertainties, inflationary pressures, and an unfavourable business environment.

    The Chemical and Pharmaceuticals industry remained the highest job creator, while the Motor Vehicle & Miscellaneous Assembly industry created the fewest jobs.

    The survey, however, said the manufacturing sector’s local raw material sourcing improved slightly to 56.03 per cent in H1 2024, up from 55.4 per cent in H1 2023.

    “This modest increase indicates a gradual shift towards local sourcing, driven by difficulties in obtaining foreign exchange,” it said.

    The report, however, stated that some sectors, like Non-Metallic Mineral Products and Textile, Apparel & Footwear, faced declines in local sourcing, reflecting the challenges of shifting away from imported raw materials.

    Investment in the sector also continued to rise, reaching N250.13 billion in H1 2024, a 29.63 per cent year-on-year increase. However, this increase is primarily due to the depreciation of the naira, which inflated the cost of importing machinery and other essential assets.

    In real terms, investment spending did not increase, as manufacturers focused on maintaining current production levels rather than expansion due to the challenging economic environment.

    Overall, Ajayi-Kadir said the first half of 2024 was marked by significant challenges for Nigeria’s manufacturing sector, including high operational costs, declining consumer demand, and rising inflation.

    He stated that while some sectors showed resilience and growth, others struggled with declining production values, rising inventories, and reduced employment.

    “The report underscores the urgent need for Nigeria to implement decisive and coherent economic reforms to address these challenges.

    “Key areas of focus include enhancing policy consistency, improving the business environment, and fostering economic diversification,” the MAN DG said.

    He said: “The success of these reforms will be crucial in reversing the current economic downturn, creating jobs, reducing inflation, and improving the overall welfare of Nigerian citizens.

    “As the country navigates through these turbulent times, the resilience of its policy framework and the effectiveness of its economic management will determine the path forward.”

  • How to solve economic challenges, by MAN

    How to solve economic challenges, by MAN

    Manufacturers Association of Nigeria (MAN) has said for Nigeria to overcome her current economic challenges, government at all levels must take some steps such as promotion and priotising consumption of locally produced goods.

    MAN said this will ease demand for foreign currency tied to imports, strengthen local manufacturing, expand production capacity, create more jobs to address unemployment challenges across the nation.

    Speaking in Ibadan at the 41st Annual General Meeting (AGM) of MAN Oyo, Osun, Ondo and Ekiti branch, the outgoing chairman of the branch, Lanre Popoola stated that government must promote non-oil export, secure steady foreign direct investment and remittance inflow, and priotise manufacturing by provision of single digit loan to bonifide manufacturers verified by MAN.

    He said government must also eliminate overlapping regulatory mandates of it’s MDA’s to boost manufacturing sector, saying numbers of taxes and levies payable to federal, state local government should be harmonised and streamlined.

    Speaking on the theme of the event, “Re-Igniting Industrialisation and Promoting the Tenants of AfCFTA in the South-western Region”, Popoola said though AfCFTA is a national affairs, but state government also have role to play as various companies in their states need adequate support to meet local demands and export to other countries.

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    In his remark, MAN President, Otunba Francis Meshioye, represented by MAN Director General, Segun Ajayi-Kadir said though current economic challenges have affected manufacturing sector, MAN will continue to partner with governments towards development of economies of Oyo, Osun, Ondo, and Ekiti states.

    “We shall continue to strive towards ensuring that government provides needed enabling environment for our huge investment. We are constantly engaging heads of Government MDAs on policies that have potentials to impact positively on the real sector performance.”

    The event had in attendance the Executive Secretary, National Action Committee on African Continental Free Trade Area (AfCFTA), Oluwasegun Awolowo, Osun state Commissioner for Commerce and Industry, Rev. Bunmi Jenyo, representatives of Ondo, Osun and Ekiti state government branch executive committee and MAN Council Members samong others.

    Also at the event, new executives of the branch were elected where Dr. Samuel Olawuyi emerged as the new branch chairman.

  • Court throws out MAN’s case on electricity tariff

    Court throws out MAN’s case on electricity tariff

    A Federal High Court sitting in Lagos has struck out a case by the Manufacturers Association of Nigeria (MAN) challenging the implementation of electricity tariff review by the Abuja Electricity Distribution Company Plc and 11 others.

    The court ruled that MAN’s suit was an abuse of court process being premature and without due regard to the provisions of section 51 of the Electricity Act 2023.

    The court also held that MAN’s case disclosed no reasonable cause of action as it had not exhausted the dispute resolution mechanism. It thus, held that the suit was not instituted with due process of law, and consequently struck out the case.

    The Nigerian Electricity Regulatory Commission (NERC) yesterday made this known in a public notice in its X handle. The judgement was delivered on October 07, 2024.

    NERC recalled MAN had challenged the minor review of the electricity tariff by the Nigerian Electricity Regulatory Commission (NERC) and filed a lawsuit at the Lagos Judicial Division of the Federal High Court.

    MAN sought four reliefs: that due process stated in the Act for the review was not fulfilled before AEDC and the others applied to NERC for the tariff review on 31 July 2023.

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    It stated that regulatory requirements for tariff reviews were not followed before NERC issued the Supplementary Order of 3 April 2024 and the subsequently reviewed rate of 6 May 2024.

    MAN also held that placing the burden of the tariff increase on only Band “A” feeders and leaving out other bands amounted to discrimination against such consumers.

    It then noted that the defendants must comply with administrative procedures for tariff review before rightfully implementing the April and May Supplementary Orders.

    NERC had objected to the suit stating that MAN’s case constitutes an abuse of court processes, being hasty and prematurely filed without following due process of the law.

  • New interest disincentive to business- LCCI, MAN

    New interest disincentive to business- LCCI, MAN

    The new interest rate announced by the Central Bank of Nigeria (CBN) will not bode well for the economy, the organised private sector has said.

    It may be recalled that the Monetary Policy Committee (MPC) of the CBN, on Tuesday raised the Monetary Policy Rate (MPR), the benchmark interest rate by 50 basis points to 27.25 percent from 26.75 percent in response to the continued inflationary conditions in the economy.

    This was the fifth consecutive hike in interest rate, having been raised by 8.5 percent under the current leadership of the apex bank.

    The outcome of the MPC meeting beat analysts’ expectations that the committee would at least hold policy rates at current levels in response to the economic hardship faced by Nigerians.

    In a monitored television interview by the President and Chairman of the Council of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Gabriel Idahosa, expressed angst over the new interest rate, saying that the expectation was that the CBN would hold the rate.

    According to him, the increase certainly will have a rippled negative effect on the economy.

    Also the Manufacturers Association of Nigeria (MAN) has issued a strong warning about the negative implications of the recent increase in the Monetary Policy Rate (MPR) to 27.25 percent.

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    In a statement by Segun Ajayi-Kadir, the Director General of MAN, he expressed concerns about the far-reaching impact of this decision on the manufacturing sector.

    Ajayi-Kadir highlighted that the continued rise in interest rates, which now totals 15.75 percentage points since May 2022, would exacerbate the challenges faced by manufacturers. The sector is already grappling with rising production costs, declining consumer purchasing power, and a challenging operating environment.

    Ajayi-Kadir said, “The decision to raise the MPR to 27.25 per cent has far-reaching implications for the manufacturing sector in Nigeria. The continued increase in interest rates, which now totals 15.75 percentage points since May 2022, would compound the challenges faced by the sector, including rising production costs in the face of declining consumer purchasing power.

    “With the increase in borrowing costs, manufacturers will now pay over 35% on their credit facilities. Clearly, this will lead to an increase in production costs, higher prices of finished goods, lower competitiveness and production capacity expansion.”

    The increase in borrowing costs will have a direct impact on manufacturers, forcing them to pay over 35 percent on their credit facilities. This will inevitably lead to higher production costs, which will be passed on to consumers in the form of increased prices for finished goods. As a result, Nigerian manufacturers will face reduced competitiveness in both domestic and international markets.

  • MAN calls for support consultations on single-use plastics ban

    MAN calls for support consultations on single-use plastics ban

    The Manufacturers Association of Nigeria (MAN) has raised concerns over the potential economic implications of the Federal Government’s proposed ban on single-use plastics.

    MAN said, for instance, that the implementation of a single-use plastics ban will likely result in job losses within industries heavily reliant on the production and distribution of these products.

    MAN Director-General Segun Ajayi-Kadir, in a statement yesterday, said workers employed in the manufacturing, packaging, and sales of single-use plastics face the risk of unemployment as companies adapt to the new regulatory landscape.

    He added that factories unable to transition to alternative materials or absorb the associated costs may be forced to cease operations, leading to job losses and economic disruptions in affected regions.

    MAN stated that small and medium scale enterprises (SMEs) within the plastics industry are particularly vulnerable to the impacts of the ban.

     “These businesses often have limited resources to invest in new technologies or retool their operations. Consequently, they may face significant challenges in adapting to the new regulatory environment.

     “The closure of SMEs can have far-reaching consequences for local economies, as they contribute to job creation, tax revenue, and supply chain stability,” Ajayi-Kadir said.

    He pointed out that the transition to alternative materials has substantial financial implications, and businesses will incur significant costs for new technology, employees training, and potentially higher-priced raw materials.

    Ajayi-Kadir also stated that redesigning products to comply with the new regulations is a time-consuming and costly endeavour. Moreover, navigating the complex legal and administrative landscape associated with the ban can add to operational burdens.

    Besides, non-compliance, he said, also carries the risk of substantial penalties, further exacerbating financial challenges.

    Ajayi-Kadir’s words: “The proposed nationwide ban on single-use plastics will undoubtedly impact the operational landscape for businesses across diverse sectors.

     “Concerned manufacturers, distributors/retailers and consumers will have their production processes, supply chains, and consumer behaviors significantly altered.

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     “This regulatory shift will precipitate significant investments in research and development to identify, develop, and implement viable alternatives to single-use plastics.

     “Businesses will have to explore eco-friendly materials, redesign packaging formats, and potentially invest in new manufacturing equipment.

     “Supply chains will also undergo a transformation as companies seek out new suppliers of sustainable materials, explore opportunities for recycling and reuse, and build relationships with waste management facilities.”

    MAN, therefore, advocated for adequate government-stakeholders engagement and collaborative efforts on the journey to the eventual elimination of single use plastics.

    The Association said “There is clearly the need for government support and a phased implementation to allow businesses sufficient time to adapt and mitigate disruptions.”

    Ajayi-Kadir said while MAN recognizes the need to protect the environment, it also emphasizes the importance of mitigating economic disruptions for its members hence “MAN supports a balanced approach in addressing the challenges posed by single-use plastics.”

    According to him, MAN is committed to collaborating with government agencies, environmental groups, and other stakeholders to develop sustainable solutions that balance environmental concerns with the need to protect jobs and guarantee the survival of businesses.

     “In this regard, adequate incentive should be given to offset the costs of adopting alternative materials, including tax breaks to encourage investment in sustainable technologies, and comprehensive training programmes to equip the workforce with the necessary skills,” Ajayi-Kadir said.

    Furthermore, MAN proposed the establishment of a dedicated fund to support research and development into sustainable packaging solutions, noting that this would foster innovation and create new business opportunities within the manufacturing sector.

    The Association also stated that many manufacturers have already commenced the implementation of Extended Producer Responsibility (EPR) schemes, which hold producers responsible for the entire lifecycle of their products, including end-of-life management.

    “By working collaboratively with the government and other stakeholders, MAN is ready to play a crucial role in shaping a win-win transition to a single-use plastics free environment, the one that minimizes business closures and job losses and ensures a smoother transition to a circular economy,” the MAN DG said.

  • MAN seeks total support for local investors

    MAN seeks total support for local investors

    The Manufacturers Association of Nigeria (MAN), yesterday, urged the Federal Government and its agencies to protect local investors and give them the necessary support to thrive in the business environment.

    MAN said local investors, particularly the Dangote Industries Limited (DIL) play a vital role in driving economic growth, as they pay taxes, create jobs and foster development within the country.

    The Association made the call when it weighed in on the allegations of poor quality of diesel, monopolistic tendencies and non-issuance of license leveled against Dangote Refinery by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

    MAN, in a statement by its Director-General, Segun Ajayi-Kadir, expressed concern and called for caution from major actors, government agencies and regulators in the oil and gas sector of the economy over the recent allegations against Dangote Refinery.

    MAN said since the allegations have since been roundly debunked, there may then be the need to issue a clarification that absolves the Dangote Refinery, one of the largest private investments in Africa, of the negative perception generated by the allegations.

    The statement said MAN expected that agencies of government that provide regulatory oversight functions should promote an enabling business environment for local investments to thrive.

    “No regulatory agency should be seen to be casting a shadow over a home-grown investment like the Dangote Refinery,” Ajayi-Kadir said, stressing that local investors, particularly the DIL play a vital role in driving economic growth.

    He said a business man like Alhaji Aliko Dangote, with investments in diverse sectors of the economy and across the African continent, should be accorded all needed support to grow and invest in more sectors and positively impact the wellbeing of the people.

    “There is no gainsaying the fact that Dangote Refinery is deserving of government protection and support,” Ajayi-Kadir emphasized.

    He said the refinery, located in Lagos, the largest single-train refinery in the world, will play a significant role in reducing Nigeria’s dependence on imported petroleum products, reduce cost and energy poverty and significantly boost our energy sufficiency.

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    “This is also a company in which Nigeria and Nigerians are shareholders.

    We should never encourage or promote a preference for imported products over local alternatives. This amounts to importing poverty and exporting prosperity,” he added.

    Ajayi-Kadir added that local investors are not only drivers of economic growth but also champions of national development. “They are the mirrors of our national industrial aspirations and their wellbeing is the attraction for both local and foreign would-be investors.

    “There is hardly any major foreign investor that would be encouraged to invest in Nigeria by the recent unwarranted castigation of Dangote Refinery.

    “On the other hand, supporting and protecting local investors like the Dangote Refinery would be sending a clear signal to foreign investors to take advantage of the conducive environment and invest, thereby creating jobs and building a more prosperous future for our people,” he pointed out.

    The MAN DG drew attention to the fact that the manufacturing sector is beset with multifaceted challenges, which include high cost of electricity, high cost of compliance with regulatory requirements, lack of access to financing, unfavorable foreign exchange and unfair competition from imported and smuggled products.

    He said it is, therefore, imperative that the Nigerian Government takes proactive steps to address these binding constraints in order to improve the competitiveness of local industries and enhance their contribution to the Gross Domestic Product (GDP).

    “The Association, therefore, calls on the Nigerian Government to prioritize the protection of local investors and actively take necessary steps to improve the operating environment for manufacturers and other economic operators to thrive,” Ajayi-Kadir stated.

  • How to make domestic manufacturing flourish, by MAN

    How to make domestic manufacturing flourish, by MAN

    The Central Bank of Nigeria (CBN) must implement policies that stimulate foreign investment and promote an enabling environment for domestic manufacturing to flourish, the Manufacturers Association of Nigeria (MAN) has said.
    MAN also said it is high time the Federal Government focused more on promoting foreign direct investment (FDI) and export of high-value added manufactured goods that are capable of boosting the country’s foreign exchange (forex) reserves and sustaining the appreciation of the naira.
    Doing these, the association pointed out, will bring the prevailing high inflation in Nigeria under control rather than the current CBN’s monetary tightening policies that are more effective for combating demand-pull inflation.

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    Director-General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir insisted that the economy is more plagued by cost-push inflation that is stoked by supply-side bottlenecks hence “The high inflation is yet to respond to the ongoing contractionary monetary policies by the CBN.”
    Speaking in Lagos, during the presentation of the MAN CEO’s Confidence Index (MCCI) Report for Q1 2024, the MAN DG lamented that rather than combat inflation, which is cost-push, the apex bank’s contractionary monetary policies have rather choked the real sector.
    He, therefore, said “Ensuring price stability without undermining real sector growth requires the concerted efforts from both the monetary and fiscal authorities.”
    The MCCI is an index constructed by MAN to measure changes in quarterly pulse of CEOs of manufacturing concerns in relation to changes in government policies and movement in macroeconomic indicators.

  • MAN, others partner on summit

    MAN, others partner on summit

    The Manufacturers Association of Nigeria (MAN) said it has concluded arrangements to host a closed-door ‘Manufacturers Summit’ with the Federal Government, Ministries, Departments and Agencies (MDAs) from June 4- 6, 2024.

    The summit, which will hold, at the Banquet/Conference Hall, State House, Abuja, is strictly by invitation, and is organised in partnership with the Presidency; Ministry of Industry, Trade and Investment; National Institute for Policy and Strategic Studies and EY.

    The three-day summit with the theme “Rethinking Manufacturing” is necessitated by the state of the manufacturing sector, which has remained a major concern to the government, industrialists and Nigerians.

    MAN Director-General Segun Ajayi-Kadir, in a statement, over the weekend, said the theme underscores the need for practical solutions to the myriad of challenges limiting manufacturing performance through the adoption of innovative strategies that can guarantee higher productivity, competitiveness, and sustainability of the sector.

    He said President Bola Tinubu, as Special Guest of Honour at the summit, will preside over the opening ceremony, while Vice President, Senator Kashim Shettima, will superintend the afternoon session.

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    “Clearly, the presence of the Presidency underscores the commitment of the government to the revitalisation of manufacturing sector in Nigeria. Manufacturers are expectant that the engagements would provide valuable insights on the policy direction, expectations of the government and practical solutions to the binding constraints,” Ajayi-Kadir stated.

    He added that the Summit will feature focus group discussions between top level government officials, industry operators and experts; insightful presentations on emerging trends and best practices in manufacturing; exhibition of made-in-Nigeria products.

    It will also feature networking opportunities for collaboration and partnership building; showcasing of innovative products, technologies, and solutions in the Nigerian manufacturing sector.

    Specifically, the focus group technical session will bring together relevant government MDAs, top-level CEOs of manufacturing concerns, continental trade institutions, subject matter experts, academia, under one roof to discuss the five pillars of the summit.

    These pillars and by extension the focus points of the summit, the statement said, include how to promote growth, upscale productivity and improve competitiveness, enhance energy security and infrastructure development, and improve macroeconomic environment.

    Others are how to improve ease of doing business, periscope manufacturers’ ESG (Environment, Social and Governance), improve patronage of made-in-Nigeria products and local content development and leverage regional and continental trade for export development.

    In addition, the summit will delve into critical discussions on how to achieve sustained manufacturing growth through the creation of conducive business environment, guaranteeing security, boosting agricultural production and strengthening supply chain resilience by leveraging technology.

    Finally, the expectation, according