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Business News of Saturday, 22 October 2022

Source: www.punchng.com

Excessive importation worsening unemployment - MAN

Manufacturers Association of Nigeria Manufacturers Association of Nigeria

The Manufacturers Association of Nigeria has said the recourse to imported produce by Nigerians has contributed significantly to Nigeria’s current high unemployment rate.

The President of the Association, Mansur Ahmed, stated this during the ‘Made-in-Nigeria exhibition’ which featured as a curtain raiser for the annual general meeting of the apex group for manufacturing business entities in the country.

Mansur said the Executive Order 003 and 005, which indicate the commitment of the Federal Government of Nigeria to growing domestic production through the patronage of locally produced goods, should be closely monitored to ensure strict compliance with the order.

He said, “In order to grow the economy, create jobs and increase contribution to government revenue, the manufacturing sector must be supported to scale production through increase capacity utilisation and adequate patronage.

“On our part, I want to assure you that the Manufacturers Association of Nigeria and the sector as a whole will rise to the occasion and ensure that it builds on the existing capacities and continue to improve on the quality and competitiveness of its product.

“Let me therefore, welcome you and urge you to move around the exhibition ground and see the existence to which the manufacturing sector can meet the desire of Nigerians for a self-reliant economy. Indeed, given the size of the Nigerian market, achieving self reliance will not only strengthen and deepen our economy, it will position us to play a dominant role in continental market.”

Also addressing the gathering, a former President of MAN, Hassan Adamu, said it was imperative for Nigeria and Nigerians to support local produce.

The Chief Executive Officer, Coleman Technical Industries Limited, George Onafowokan, who spoke exclusively with our correspondent, noted that made-in-Nigeria products remained a crucial component of the economy as it currently provides employment opportunities for millions of Nigerians.

He also urged Nigerians to reduce patronage of foreign goods and support locally made goods.