The Chairman of the Manufacturers Association of Nigeria Export Promotion Group, Odiri Erewa-Meggison has lamented the manufacturing sector is currently experiencing the toughest period in the history of its existence._
He called on manufacturers to remain resilient while navigating through the challenging business environment in order to leverage the opportunities provided by the African Continental Free Trade Agreement.
He said, “Export is very important to us as a nation. A lot of people have said that what we need to do is to move away from our comparative advantage and focus on export-driven development. This is why MAN, for more than five decades has concentrated on making Nigeria’s manufacturing competitive.
“So, the theme for this year is very special because we are looking at our competitiveness even in the midst of rising production costs. You will all agree with me that one of the most difficult things to do in Nigeria is to drive down your costs because inflation continues to head north, while profitability heads south. This is the reality that we face every day.”
In his keynote lecture, the Dean of the School of Business, University of Ibadan, Prof Adeolu Adewuyi noted that a high and sustained living standard cannot be attained and sustained by any nation without considerable improvements in its manufacturing sector.
- Yusuf Oketola