Yemisi Izuora
Lagos State Government has praised the resilience of the Manufacturers Association of Nigeria (MAN) in providing support to efforts of government to improve living conditions of the people.
Speaking during the Manufacturers Association of Nigeria (MAN) 54th Annual General Meeting (AGM) with the theme- “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub”- the State’s Commissioner for Commerce, Cooperatives, Trade and Investment, Hon. Folashade Bada Ambrose-Medebem, said Lagos is not slowing down on its push to become Africa’s premier industrial hub.
According to her, the Babajide Sanwo-Olu administration remains unwavering in its commitment to creating an enabling environment for manufacturing, investment and sustainable economic development.
She paid glowing tribute to MAN for its role in shaping policy and growing Nigeria’s productive capacity in over five decades. “Manufacturing remains fundamental to a modern, resilient economy,”she noted.
The Commissioner however noted that the road is rough as “Manufacturers face significant pressures, including exchange-rate volatility, inflation, high energy costs, infrastructure gaps, and changing trade conditions,.
The Commissioner insisted that fixing it cannot be left to government alone. “Responding effectively requires sustained collaboration between Government and Industry; Government must create the conditions for businesses to grow, while Industry brings the Investment, Expertise, and practical insight needed to shape workable solutions,”she stated.
She pointed to what she called Lagos’ strategic economic assets. “Strategic assets such as the Lekki Deep Sea Port and Lekki Free Trade Zone were key drivers expanding the State’s potential as a hub for Trade, Logistics, and Industrial investment,”she averred.
The most striking part of her address was on power — the perennial nightmare of every manufacturer in Nigeria.
The Commissioner broke down the new Lagos State Electricity Law 2024, which now gives Lagos the legal framework to manage its intrastate electricity market.
She explained that the law creates three critical institutions — the Lagos State Electricity Regulatory Commission (LASERC), the Lagos State Electrification Agency (LSEA), and the Lagos State Independent System Operator (LAISO) — each with distinct responsibilities.
“For manufacturers, this work is directly connected to competitiveness,”she stressed.
“More reliable power can help businesses manage costs, sustain production, protect jobs, and plan for growth. Lagos will continue working with MAN, Energy providers, and other Stakeholders to ensure that our electricity reforms translate into practical improvements for industry and residents,” she assured.
She specifically applauded the President of MAN, Otunba Francis Meshioye, for his leadership, while conveying the appreciation of Governor Babajide Olusola Sanwo-Olu and the good people of Lagos State.
Also speaking, Prof. Ayo Omotayo, Director-General of the National Institute for Policy and Strategic Studies (NIPSS), was blunt in his assessment.
He said Nigeria cannot talk of a $1 trillion economy when manufacturing contributes a meagre 3.3 per cent to GDP instead of the 25 per cent envisaged.
“If Nigeria is going to work, economically, Manufacturing must work,”Prof. Omotayo declared, drawing applause from the hall.
He warned that policies alone will not save the sector. “Going forward, it is not Policy that will make Manufacturing work. Policy has its own role, but eventually, it is how we approach implementation of Policy that will make the difference,”he said.
President of MAN, Otunba Meshioye talked about making the sector competitive, so as to position Nigeria as Africa’s industrial hub goes beyond producing more.
“Market access will be commercially meaningful only where Nigerian Manufacturers can compete on cost, quality, standards, reliability, and delivery,”he said.