Government Policy Shortcomings Lead To Low Capacity Utilization, According To MAN

Government Policy Shortcomings Lead To Low Capacity Utilization, According To MAN....KINDLY READ THE FULL STORY HERE▶

The Manufacturers Association of Nigeria (MAN) has expressed concern that inadequate government commitment to policy execution has resulted in the country’s manufacturing sector operating at less than 50 percent of its installed capacity. Segun Ajayi-Kadir, the Director General of MAN, made this statement during the 2024 Access Corporate Forum in Lagos…..CONTINUE READING 

Ajayi-Kadir noted that while successive governments have proclaimed their intent to boost domestic production, they have failed to prioritize the manufacturing sector’s growth. He pointed out that the sector’s development has been hindered by a lack of genuine commitment to implementing policies and by being overshadowed by other priorities.

“As a result, the manufacturing sector in Nigeria continues to function below 50 percent of its potential capacity,” he stated.

Aliko Dangote, President of Dangote Group, also addressed the forum, highlighting the necessity for government support for local manufacturing. He argued that this approach is “more effective than traveling abroad to beg for foreign investments.”

Dangote further emphasized that the federal government must provide robust support for small businesses to help them withstand the pressure from foreign product dumping. He remarked, “What attracts foreign investment is domestic investment. Without domestic investments, there will be no foreign investments.”