Meshioye underscored the pressing need for comprehensive
actions to enhance the competitiveness of Nigeria’s manufacturing sector within
the framework of the African Continental Free Trade Area (AfCFTA).
According to the MAN President The AGM, scheduled for October
17-19, 2023, will revolve around the theme, “Setting the Agenda for Competitive
Manufacturing Under the AFCFTA: What Nigeria Needs to Do.
“In his welcome remarks, Meshioye expressed his gratitude to
the media for their instrumental role in disseminating information and
advocating for the Nigerian manufacturing sector. He emphasized that the sector
faces a multitude of challenges, including rising manufacturing costs due to
the scarcity of essential inputs, which threatens its profitability and its contribution
to the nation’s Gross Domestic Product (GDP).
Notable challenges confronting the manufacturing sector
encompass unreliable power supply, security issues, insufficient
infrastructure, foreign exchange shortages, and the depreciation of the Nigerian
Naira. Meshioye stressed the urgency of government intervention to address
these challenges. He called for investments in infrastructure, power, and the
reduction of corruption and insecurity.
He also advocated for incentive policies that favor domestic
production over imported finished products.Meshioye highlighted the
significance of fully capitalizing on the opportunities presented by the
AfCFTA. This involves ensuring that products manufactured in Nigeria are
competitive in terms of quality and pricing, thereby enabling them to thrive in
the continental market.
He reiterated the necessity of addressing the constraints
that hinder the competitiveness of local products to fully harness the
potential of the AfCFTA for the Nigerian economy.
The President reaffirmed MAN’s dedication to collaborative
advocacy efforts and unveiled the Guest Speaker for the 3rd Adeola Odutola
Annual Lecture. The esteemed Guest Speaker, Olusegun Aganga CON, a former
Minister of Finance and Chairman of the Economic Management Team, is expected
to deliver valuable insights during the lecture scheduled for Thursday, October
19, 2023.
The AGM, spanning three days at the Lagos Oriental Hotel,
Victoria Island, Lagos, will feature several key events:The opening ceremony of
the 3-day Made-in-Nigeria Products Exhibition on Tuesday, October 17, 2023,
designed to showcase locally manufactured products and promote their patronage.
The 51st Annual General Meeting, exclusively for MAN
members, on Wednesday, October 18, 2023. This will also include an exhibition
of Made-in-Nigeria products at the same venue.
The 3rd edition of the Adeola Odutola Lecture/Presidential
Luncheon on Thursday, October 19, 2023.Meshioye encouraged the media to support
the exhibition of Made-in-Nigeria products and provide positive coverage for
these events.
He underscored the critical importance of boosting the local
manufacturing sector to ensure the sustainability of the economy and enhance
the standard of living for the majority of citizens. The President eagerly anticipated
a highly engaging AGM and its broader implications.
In conclusion, Otunba Francis Meshioye, the President of
MAN, reiterated the pressing need to address the challenges faced by the
Nigerian manufacturing sector to enhance its competitiveness and seize the
opportunities presented by the AfCFTA.
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