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By Merit Ibe
The Manufacturers Association of Nigeria (MAN) is seeking a new industrial policy, reiterating that at this point in the country’s economic development there was need to establish synergy between trade and industrial policies.
President of the association, Francis Meshioye made the remark at the opening ceremony of the 2023 edition of the Annual Nigeria Manufacturing and Equipment (NME) Expo jointly organized by the Nigerian Raw Materials Exposition (NIRAM) of the Raw Materials Research and Development Council (RMRDC).
He pointed out that the vision of industrialized Nigeria would remain an illusion until the bidding constraints that affects ease of doing business is resolved.
He noted that it would be a great legacy if this is achieved during the tenure of the Minister of industry, trade and investment because industry and trade are under the ministry’s portfolio.
“The vision of industrialized Nigeria would remain an illusion until we resolve the bidding constraints that affects ease of doing business in the country. “Honourable Ministers, in going forward, Nigeria at this point in our economic development needs to establish synergy between our trade and industrial policies. It will be a great legacy if this is achieved during your tenure because industry and trade are under your portfolio. In addition, it will also be great if your tenure births a new Industrial Policy for the country.”
The MAN boss noted that through the annual event, which provides a common ground for large manufacturing organizations and SMEs to explore new production processes that will increase their production output, MAN has taken the challenge of leading the manufacturing sector to play a vital role in the nation’s vision of becoming one of the leading industrialized economies in Africa.
The NIRAM Expo themed: “Future of Manufacturing: Building a Sustainable Roadmap to the Industrialization of Nigeria, ” he said it is aimed at creating a platform where stakeholders in the raw materials supply chain will come together to synergize, display and trade in available resources and raw materials with the users of these products.
“With this in mind, we intend to close the information gaps and encourage local sourcing of available raw materials by manufacturing industries which is in line with Government backward integration programme.
“The theme is informed by the unprecedented rate in which our world is changing in terms of innovative technologies, shifting customer expectations, as well as increasing social awareness of gender equity and restoration of previously marginalized communities.
“These major shifts have a considerable impact on the future of the manufacturing sector. If manufacturers can efficiently balance a combination of efficient economies of production and supply chains; strong and reputable products; loyal customers; an established logistics network; as well as reliable on-line business elements, they will be well-positioned in the future to compete favourably in the industrial marketplace.
“By successfully assimilating advanced technologies into their systems, existing and prospective industrialists can expect to realize even greater revenue and profits from their investments. Improved political stability; growing investment prospects; business-friendly trade agreements; Industry 4.0; enforcement of policies empowering start-up and female manufacturers; in addition to governmental funding solutions, to name a few, are pivotal factors demonstrating a positive and thriving manufacturing future.
“Despite concerns that the continent lacks the requirements for global advancements to capitalise on innovative technological initiatives, African countries are uninhibited by infrastructure legacy challenges, thereby providing a higher degree of flexibility than their developed counterparts. Accordingly, Industry 4.0 remains a considerable opportunity for African manufacturers, ultimately giving the continent a cutting edge over the global economy.
“Beyond manufacturing, all industrial and commercial businesses in the country also suffer from energy inadequacy and inefficiency. It is for this reason that investors in the economy will continue to push for sustained effort to bring about significant improvement in the quantum, quality and consistent supply of electricity.”
