Advocacy group, the Manufacturers’ Association of Nigeria (MAN) has said Nigeria’s high and rising cost environment has continued to shrink profitability and threaten the existence of  its over 2,500 industry-members.

 

 

The association’s President, Otunba Francis Meshioye, raised the alarm at the pre- 52ndAnnual General Meeting (AGM) media briefing of the association, held in Lagos, recently.

 

 

He expressed concerns that the sector, which should be propelling job creation, productivity, and economic growth, is presently enmeshed with series of challenges that constantly limit its contribution to the  country’s Gross Domestic Product.

 

 

The MAN boss, therefore, stressed the need to urgently address the binding constraints that make local products uncompetitive, so as to check the downward trend of the economy.

 

 

Otunba Meshioye also expressed the strong belief that the association’s 52^nd AGM,  tagged: “The Imperatives of an Intentional Development of the Nigerian Manufacturing Sector”, which kicked off, today, Tuesday, October 22^nd,  presents a veritable platform for  the association to deepen its  advocacy mandate.

 

 

“We have another opportunity to engage with our members, critical stakeholders and partners to examine our performance in the past year and chart a new part forward.

 

 

“The choice of the theme for this year speaks volume about our direction and resolve to birth a thriving manufacturing sector,” he stated.

 

 

According to him, the theme, couched with a deep reflection on the growth trajectory of the manufacturing sector in Nigeria,  bore eloquent testimony to the resolve of the association to continually play its role of presenting the government with policy inputs and options, as a critical stakeholder in the nation’s economy.