How packaging firms plan to diversify Nigeria’s economy
The crash in oil prices has exposed the dangers of a mono economy. Nigeria, Africa’s largest economy, has seen the perils of over dependence on oil, having relegated critical sectors of the economy such as manufacturing, agriculture, small businesses and solid minerals, to the background.
The country currently struggles to pay workers and build infrastructure necessary for inclusive growth.
To plug this loophole, packagers from Nigeria and other assembled at Landmark Centre in Lagos to help improve the country’s packaging, printing, processing and plastics industries to make local products more competitive.
The exhibition tagged ‘Propak West Africa 2015’ brought together stakeholders and exhibitors who established business contacts and develop new relationships, last week.
Foreign exhibitors and experts in the industries held seminars aimed at improving skills of local players to aid technology transfer and spike the sectors.
“The foreign direct investment of this event is huge,”said George Pearson, exhibition director at the press conference.
“Propak has become more important to Nigeria when we look at what the oil prices and the need for government and states in Nigeria to look critically at non-oil products,” Pearson said.
“Agriculture, food processing and manufacturing are becoming crucial in terms of the economy and in terms of growth. So this is an important element,” he added.
The event, which started in South Africa 25 years ago, is expected to be an annual event in the country. It is also the biggest in the packaging, printing, pharmaceutical processing and plastics sectors in the continent.
Damion Angus, managing director, Montgomery, which is the organiser, said the exhibition allowed foreign investors to come into the country. According to Angus, a lot of companies, distributors, partners were there to learn new ideas, establish new business relationships and understand latest innovations in the sectors.
He said Propak West Africa began in the country in 2012 as Montgomery felt the need to tap into growing opportunities in West Africa.
Exhibitors came from China, India, Taiwan, Germany and other parts of the world. There were also local participants. The exhibition is expected to have a multiplier effect on Nigeria’s economy.
“Before we had lack of skills or knowledge in the industry, but with Propak, there are lots of seminars that will improve players’ capacities,” said Joju Adekanbi, media partner. Adekanbi said a lot of machinery producers also came in to know Nigeria’s policies on imports to see how best they could transfer technology.
ODINAKA ANUDU