Stakeholders urge FG to provide power, others to boost made-in-Nigeria products
Real sector operators in Aba, the commercial hub of Abia State, have observed that efforts of the government to boost made-in-Nigeria products will not yield fruit unless infrastructure, especially electricity, is guaranteed in the country.
The stakeholders at a forum in Aba, tagged, “A-day interactive forum with manufacturers of Made-in-Nigeria products, organised by the Aba zonal office of the Nigerian Export Promotion Council (NEPC), also urged government to review its policies that had made it impossible for operators, especially small and medium industrialists (SMIs) from accessing funds from relevant government agencies, like the Bank of Industry (BoI), Nigerian Export, Import (NEXIM) Bank.
They also urged government to stop multiple taxation and provide incentives to new manufacturing firms to enable them grow.
According to Tony Akudinobi, managing director, Hammer Head Integrated Services Limited, there is no concerted effort by Government and its agencies to improve the lot of manufacturers in the country.
“We know our problems in production. Labour is still an issue; power is just not there. So, there are problems and it is until we solve these problems that we will now begin to think of producing enough for local consumption and also for export.
“Nigeria has about one of the most degenerate labour markets in Africa. Employers of labour will also attest to this. I am a full blooded Nigerian, but if we are going to honestly move along this export line, we have to know that labour, power and so many other issues must be addressed.
However, Emeka Okoroama, managing director, Koroma Glover Nigeria Limited, one of the major players in the paints manufacturing sector, advised local manufacturers to take advantage of the dwindling oil revenue to formalise their businesses and earn foreign exchange for themselves and for the country.
Okoroma observed that a well-developed export sector would provide employment, reduce social vices, ensures balance of trade and reduce pressure on foreign reserves.
He stated that a rewarded export will not only give added profit and margin to the exporter, but would also increase his scope and purchasing power, thereby driving local demands.
“The unpredictability of crude oil price in dollar, and high demand of Nigerian goods, especially in the ECOWAS sub-region, provides opportunities for local manufacturers to go into export.
“Export incentives and grants by the Federal Government is also an important factor in the need for you to go into export. I want to say that the opportunity is now that the non-oil sector is looked at today as the only way out to rebuild the nation’s economy, “he stated.