Yemisi Izuora
The Minister of Trade and Investment, Doris Uzoka Anite, has called on manufacturers in Nigeria to work towards leveraging trends like artificial intelligence, automation and other new technology to sustain their business.
Anite, observed that the future of manufacturing in Nigeria relies on e ability to embrace technological advancements and innovation and commitment to leverage emerging trends such as artificial intelligence, automation, robotics, and the Internet of Things (IoT) to enhance our manufacturing processes, improve efficiency, and drive productivity.
She said that by adopting these cutting-edge technologies, the industry can boost the competitiveness of the local manufacturers and position Nigeria as a global manufacturing hub.
The Minister, while addressing participants at the occasion of the 2023 edition of the Nigeria Manufacturing and Equipment Exposition (NME Expo) and the Nigeria Raw Materials Exposition (NIRAM Expo), in Lagos applauded the Manufacturers Association of Nigeria (MAN) for providing the platform to discuss a topic of utmost importance and significance to our economy: the “Future of Manufacturing,” which she described as very much in alignment with the national quest for revitalization of the manufacturing sector.
Anite, said the theme: ‘Future of Manufacturing,’ emphasizes the need for a renewed focus as well as deliberate attention to the development of the non-oil sector through manufacturing processes. “As we are all aware Nigeria has long been dependent on oil as our primary source of revenue putting marginal attention to sustained manufacturing activities. However, the volatility of the global oil market and the need for diversification have necessitated a shift towards developing our manufacturing industry and tapping into its immense potential.” she noted.
The Minister also informed the gathering that the future of manufacturing also lies in harnessing the potential of renewable energy sources, pointing, “As we transit to a greener economy, it is imperative that we promote the use of clean and sustainable energy in our manufacturing processes. This will not only help reduce our carbon footprint but also create new job and investment opportunities in the renewable energy sector.”
Additionally, she said efforts should be made to prioritize the development of raw materials sector to support the manufacturing industry stressing that by focusing on value addition and local sourcing, we can reduce our reliance on imported raw materials and improve the overall competitiveness of our products.
This she said will also contribute to the growth of small and medium-sized enterprises (SMEs) and empower local entrepreneurs to participate actively in the manufacturing value chain.
On the part of Government, she said the Ministry is dedicated to fostering a conducive environment for manufacturers to flourish. “Our commitment extends to the implementation of policies and programs that facilitate ease of doing business, improve access to finance for manufacturers, and enhance infrastructure and logistics to bolster the growth of the manufacturing sector.”
As part of this commitment, she said the Federal Ministry of Industry, Trade, and Investment will strengthen collaboration with MAN to implement sector-specific guidelines.
This underscores the pivotal role of the manufacturing sector in our overarching strategy for sustainable growth, she said, adding, “We acknowledge that manufacturing is a cornerstone for job creation, value addition, and a robust workforce. Our policy initiatives centered on creating an enabling environment, incentivizing production activities, and promoting the use of made-in-Nigeria products to boost the competitiveness of our manufacturers.”
“Since my assumption of office, with the approval of Mr. President, a presidential council for industrial revitalization has been established, with the Minister of Finance serving as the Chair and myself as the Vice Chairman; additionally, various workgroups and task forces have been formed to effectively implement the council’s mandate. Some of these include subcommittees on consumer credit, commodity exchange, heavy industries, and steel development, as well as trade facilitation and ease of doing business. Other subcommittees are licensing and certification of artisans, trade facilitation and realization, mining and solid minerals, oil and gas, and creative industries.” she said.
Speaking further, the Minister, added that in line with the objectives of Mr. President’s Renewed Hope Agenda, “it is essential that we intentionally shift our focus towards non-oil manufacturing sectors such as agriculture, textiles, automotive, pharmaceuticals, and renewable energy. Through fostering innovation, championing local content, and strategically investing in critical infrastructure, we have the potential to catalyze the development of a robust and globally competitive manufacturing sector, thereby significantly contributing to our economy.”
Continuing, Anite, said, As part of this commitment, the President has pledged to allocate N75 billion for 75 manufacturing enterprises to access N1 billion credit at a 9 per cent interest rate per annum. This initiative aims to expedite the transformation of the manufacturing sector.
She therefore urged all stakeholders, including manufacturers, policymakers, investors, and industry experts, to collaborate and share knowledge and best practices.