Chief Francis Meshioye, President of the Manufacturers Association of Nigeria (MAN), has called for the domestication of Executive Order 003, which mandates government ministries, departments, and agencies to prioritize purchasing Made-in-Nigeria goods. This appeal was made during the 41st Annual General Meeting (AGM) of the Oyo, Osun, Ondo, and Ekiti states branches of MAN, held in Ibadan.
Represented by MAN’s Director-General, Mr. Segun Ajayi-Kadir, Meshioye emphasized that domesticating this order would not only support local manufacturers but also generate more employment opportunities. “By prioritizing local products, we can stimulate economic growth and create jobs for our youth,” he stated, underlining the need for a collective effort from all stakeholders to ensure that locally produced goods gain the recognition and market share they deserve.
Meshioye urged state governments to collaborate with the Federal Ministry of Works to rehabilitate and reconstruct federal roads within their jurisdictions, thereby facilitating smoother transportation of goods and people. He said, “The state governments must prioritize road maintenance, as good infrastructure is crucial for the movement of goods, which is essential for manufacturing efficiency.”
Highlighting another pressing issue, Meshioye addressed the persistent challenges of unreliable power supply, which have long plagued the manufacturing sector. He called on state governments to extend electricity from State Independent Power Plants to manufacturing companies. “This initiative will help alleviate the ongoing power supply challenges and significantly reduce production costs,” he argued.
The theme of the AGM, “Re-igniting Industrialization and Promoting the Tenet of AfCFTA in the Southwest Region,” was described by Meshioye as timely and essential for addressing obstacles facing the manufacturing sector, such as the removal of fuel subsidies, the floating of the Naira, fluctuating exchange rate policies, and rising interest rates. “These issues have a direct impact on our ability to compete both locally and internationally,” he remarked, urging the government to implement policies that will enhance the manufacturing environment.
Mr. Lanre Popoola, Chairman of MAN for the Oyo, Osun, Ondo, and Ekiti states branches, echoed Meshioye’s sentiments, stressing the need for the government to implement proactive measures to boost non-oil exports and attract foreign direct investment. “The government must prioritize the consumption of locally produced goods and conduct a thorough review of overlapping regulatory mandates that hinder manufacturing,” he stated.
Popoola further recommended that to support bona fide manufacturers verified by MAN, the government should classify manufacturing as a priority sector and provide loans at single-digit interest rates. “Access to affordable financing is critical for manufacturers to innovate and grow their businesses,” he asserted, noting that favorable lending rates would allow manufacturers to invest in technology and increase production capacity.
In a strong call for diversification, Osun State Governor Ademola Adeleke, represented by Commerce, Industry, and Cooperative Commissioner Mr. Bunmi Jenyo, urged state governments to diversify their economies away from oil dependency. “We must explore sectors like tourism, ICT, agriculture, mining, and textiles to create a sustainable economic future,” Adeleke stated, emphasizing the importance of a multi-faceted approach to economic development.
The event featured a significant address from Mr. Olusegun Awolowo, Executive Secretary of the National Action Committee for the Africa Continental Free Trade Area (AfCFTA). He assured attendees that AfCFTA would work closely with MAN to connect Nigerian businesses with counterparts in other member states, thereby creating new market opportunities and fostering productive partnerships. Awolowo, represented by Dr. Fatima Bello from the Nigeria AfCFTA Coordination Office, discussed strategies for leveraging regional comparative advantages under the AfCFTA framework, stating, “Through collaboration and knowledge sharing, we can maximize our potential and drive industrial growth.”
In a noteworthy development during the AGM, Dr. Segun Olawoye was elected as the new Chairman of MAN for the Oyo, Osun, Ondo, and Ekiti states branches. His election represents a new chapter for the association, as he is expected to drive initiatives that align with the goals set forth by his predecessors and further enhance the manufacturing landscape in the region.
The AGM concluded with a renewed commitment from all stakeholders to work collaboratively towards achieving the set goals, reaffirming the importance of local production and sustainable economic growth in Nigeria and beyond. As the manufacturing sector faces numerous challenges, the call to action from industry leaders serves as a pivotal moment for reinvigorating the sector and promoting its resilience in a changing economic environment.
