Manufacturers to tackle constraints at 52nd AGM
By Yinka Kolawole
The Manufacturers Association of Nigeria (MAN) is set to address the constraints affecting the nation’s manufacturing sector at its 52nd Annual General Meeting (AGM) starting from tomorrow, Tuesday, October 22 to Thursday, October 24, 2024 at the Lagos Oriental Hotel, Victoria Island, Lagos with the theme, “The Imperatives of an Intentional Development of the Nigerian Manufacturing Sector”.
Speaking at a media briefing, President of MAN, Otunba Francis Meshioye, lamented that the binding constraints are making local products uncompetitive.
He said: “The high and rising cost environment continues to shrink profitability and, in many cases, threaten the existence of many operators in this critical sector of the economy.
“More worrisome is the fact that the sector that should propel job creation, productivity, and economic growth is enmeshed with a series of challenges that constantly limit its contribution to the Gross Domestic Product.
“We need to urgently address the binding constraints that make our local products uncompetitive, otherwise, the economy may continue on the downward trend with no certainty on when it will rebound. As critical stakeholders in the Nigerian economy, we shall continue to play our role of presenting the government with policy inputs and options.
“We shall continue to partner with governments with a view to co-creating innovative solution that will free the Nigerian economy from its lackluster performance and place it on the path of productivity, sustainable growth and development”, he said.
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