The Manufacturers Association of Nigeria (MAN) has intensified its advocacy for a well-structured industrial policy to transform the nation’s business environment.
According to the association, such a policy would address long-standing challenges in the manufacturing sector, streamline regulatory processes and attract investments to stimulate economic growth.
MAN emphasised that a strategic approach to industrial reforms was essential to enhance competitiveness, ease the cost of doing business and unlock Nigeria’s full industrial potential.
The Director General of MAN, Segun Ajayi-Kadir, who stated this recently at the January 9 Collective (J9C) annual lecture in Lagos, themed: “Business and Policy Strategy: Examining the Role of Reforms in Enhancing the ease of doing business (EoDB) in Nigeria”, said the manufacturing sector has not historically been handled well by the Nigerian government, lamenting that it pays lip service to the sector.
“Nigeria does not have an industrial policy, there is a need to have a policy that allows the sector to engage with other sectors and even guide the country’s foreign relations.
“Nigeria has no business promoting hot money; you need to focus on Foreign Direct Investment (FDI); those that would remain in the economy, not flight by night business people who stay in the hotels”, he said.
