shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » 51st AGM: Manufacturers Seek Concerted Efforts To Address Production Constraints

51st AGM: Manufacturers Seek Concerted Efforts To Address Production Constraints

by Joshua
October 12, 2023
in Featured, News

Otunba Francis Meshioye, President, Manufacturers Association of Nigeria (MAN), has charged government to make comprehensive and concerted efforts to overtake the binding constraints limiting local production.

 

Meshioye gave this charge at the MAN 51st Annual General Meeting (AGM) news conference on Wednesday in Lagos.

 

The News Agency of Nigeria (NAN) reports that the AGM scheduled for Oct. 17 to Oct. 19, 2023 has the theme: “Setting the Agenda for Competitive Manufacturing Under the AFCFTA: What Nigeria Needs To Do.”

 

According to the MAN president, the event’s theme was couched with deep reflection over the growth trajectory of the manufacturing sector in Nigeria and Africa.

 

“Focus must be on the role of the manufacturing sector in the actualisation of the AfCFTA and the integration of the African economy as envisioned in the Agenda 2063: ‘The Africa We Want.’

 

“Currently, the cost of manufacturing is daily rising owing to scarce and unavailable manufacturing inputs that continue to shrink profitability and threaten the existence of the critical sector of the economy,” he said.

 

Meshioye noted that more worrisome was the fact that the sector that should propel job creation, productivity, and economic growth was enmeshed in series of challenges that constantly limited its contribution to the Gross Domestic Product (GDP).

 

“Such challenges as epileptic power supply, insecurity, inadequate infrastructure, shortage of foreign exchange and naira depreciation are prevailing issues that are impacting negatively on the sector.

 

“Government must seek to attract foreign investment that will bring about a reduction in the foreign exchange chase and ensure sufficient foreign exchange inflow that the country clearly requires.

 

“With a new administration steering the seat of governance, it is pertinent that all hands must be on deck to achieve a vibrant economy that can compete favourably.

 

“To start with, government needs to prioritise investment in infrastructure and power, combat insecurity and corruption as well as introduce incentive policies that will make domestic production more attractive than the importation of finished products,” he said.

 

The MAN president emphasised the need for the AfCFTA window to be maximised in such a way that products manufactured in Nigeria would be preferred in terms of quality and pricing.

 

He noted that until the country addressed the binding constraints that made local products uncompetitive, the benefit of a continental market might end up being a mirage for the largest economy in Africa.

 

“In the face of these shortcomings, we remain resilient and committed to our collaborative advocacy approach, as we strive towards the attainment of practical ease in doing business.

 

“We seek an atmosphere that supports favourable competition with our counterparts in other countries, particularly within the continent,” Meshioye said.

 

He said the association’s commitment to addressing the challenges from where the shoe really pinched informed the choice of guest speaker for the 3rd Adeola Odutola Annual Lecture.

 

“Our distinguished Guest Speaker is Nigeria’s former Minister of Finance and Chairman of the Economic Management Team from 2010 to 2011, Olusegun Aganga.

 

“Our goal is to brainstorm at the AGM, dwelling on the theme for the purpose of suggesting a policy direction for the new government.

 

“To give a typical rundown of this year’s event, the programme will as usual run for three days at the Lagos Oriental Hotel, Victoria Island, Lagos with an exhibition, AGM and lecture.

 

“For the manufacturing sector to become competitive, we must all not rest on our oars until we can boast of a sector that guarantees the sustainability of the economy and improvement in the standard of living of majority of the citizens,” he said.

 

 


Related Posts

Tariff Fears Drive Q1 Import Boom, Says WTO

CDS Urges Communities To Protect Pipelines

July 16, 2025
18 Years After: FG To Commence Disbursement Of $350 Million CVFF Funds With Immediate Effect 

Oyetola’s Aide,Mariners President Signpost Buhari’s Impact In Maritime Sector

July 16, 2025
Tariff Fears Drive Q1 Import Boom, Says WTO

Tariff Fears Drive Q1 Import Boom, Says WTO

July 16, 2025
Aliko Dangote Submits Paperwork To Build Nigeria’s Largest Seaport In Ogun

Nigeria Ramps Up Campaign for IMO Category C Seat, Showcases Maritime, Aviation Potential on Global Stage

July 15, 2025

Latest News

Tariff Fears Drive Q1 Import Boom, Says WTO

CDS Urges Communities To Protect Pipelines

July 16, 2025

Oyetola’s Aide,Mariners President Signpost Buhari’s Impact In Maritime Sector

Tariff Fears Drive Q1 Import Boom, Says WTO

Nigeria Ramps Up Campaign for IMO Category C Seat, Showcases Maritime, Aviation Potential on Global Stage

WCO Chairmanship: Afam Chukwuma Hails Adeniyi’s Appointment as Major Boost for Nigeria’s Customs and Economy

Aliko Dangote Submits Paperwork To Build Nigeria’s Largest Seaport In Ogun

Nigeria Customs Boss Extols Late Buhari’s Legacy Of Discipline

Vessels Expected At Lagos Ports As At 14th July, 2025

Duty-Free, But Not Trouble-Free: Mixed Reactions Trail UK’s Trade Window For Nigerian Exports

At Last, Lekki-Epe Corridor Stakeholders Agree On August 1st Enforcement Date For E-Call-Up 

Nigeria Losing Billions To Boat Importation As Indigenous Operators Urge Local Shipbuilding Drive

Court Ruling Against CRFFN’s Regulatory Powers Tears Customs Brokers Apart   

kindly like our Facebook page

Health

The Usefulness Of Watermelon Seeds You May Not Know
Health

The Usefulness Of Watermelon Seeds You May Not Know

July 14, 2025

Watermelon is one fruit that’s hard to resist when it gets too hot. It’s sweet and is high in water...

KNOW YOUR BODY PARTS: THE HEART

KNOW YOUR BODY PARTS: THE HEART

June 30, 2025
Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

June 30, 2025
Contraceptive Pills Can’t Cause Cervical Cancer – Expert

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025
ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition