Yemisi Izuora
The Manufacturers Association of Nigeria (MAN) has said that time has come for Nigeria to develop and implement a clear industrial policy.
The Association said the industry has remained resilient in the face of economic headwinds but there is need for the country to urgently adopt a comprehensive policy framework that guides industrial development, fosters growth and propels us towards a brighter economic future.
In his Keynote address at BUSINESSDAY Manufacturing Conference 2025, on Thursday May 29, the Director General (DG) of MAN, Segun Ajayi-Kadir, advised that adopting the report of 2024 Manufacturers Summit on Rethinking the Nigeria Manufacturing Sector and MAN Blueprint 2.0 as working documents will Fasttrack the process.
Segun Ajayi-Kadir, said that the Nigerian government holds the primary responsibility for creating an enabling environment to unlock the manufacturing sector’s potential, a task that requires strategic interventions across infrastructure, fiscal policy, and regional integration issues.
On a notes of commendation, the DG, applauded the Federal Government for the passage of the four tax reform bills aimed at restructuring, streamlining and establishing unified tax processes.
The government should equally be commended for pronouncement of the Nigeria First Initiative, saying that the nation anxiously awaits the expedited consummation of these initiatives and effective implementation.
He however said the government has the responsibilities of effective engagement and inclusion in policy processes.
Under the strategy Government should create structured platforms for regular consultation with manufacturers to ensure policies are inclusive, practical, and aligned with industry needs.
Government he advised should gazette the “Nigeria First Policy” and make the Nigeria First Policy a binding law, and punitive measures should be put in place for violators.
This is critical to give the policy legal standing, ensuring transparency, public awareness, and enforceability across government institutions and the private sector.
He also called for instituting mechanisms for gathering and disseminating export market intelligence, by establishing systems to gather and share timely, relevant export data through embassies, trade attachés, and agencies, to support manufacturers in accessing and competing in global markets.
Government he said should establish a stable and predictable policy environment as consistent and transparent policies are essential for investor confidence, long-term planning, and industrial growth.
Ajayi-Kadir also pointed out the to improve infrastructure and logistics networks.
Government he said should “Invest heavily in critical transport infrastructure, particularly roads, ports, and industrial corridors, to reduce logistics bottlenecks. We appreciate the recent development in the sector. But with only about 37% of roads in good condition, manufacturers still face delayed access to markets and increased transportation costs, making local products uncompetitive both locally and internationally.”
On a serious scale the government should fastest tracking Ajaokuta-Kaduna-Kano (AKK) gas pipeline:
The project, which is targeted for completion in 2025, is poised to add 3.6 gigawatts (GW) to the national power supply. This boost could reduce the current reliance on diesel generators among manufacturers and improve capacity utilization.
There is also need to protect local industries against unfair trade practices: Stronger enforcement against smuggling, dumping, and counterfeit goods will safeguard local manufacturers and level the playing field.
The government must prioritize national security, especially around manufacturing hubs affected by terrorism, banditry, and inter-communal violence. The rise of insecurity poses direct threats to factories, workers, and raw material sourcing.
On support to local content and value chain development, he said, “Incentivizing backwards integration and enforcing local content policies will boost domestic sourcing and deepen industrial linkages.
“Address financing gaps and reduce borrowing costs: With the significant gap between loan applications and fund allocation, coupled with average interest rates exceeding 30 per cent, manufacturers are deprived of affordable, long-term financing.”