Manufacturers Association of Nigeria (MAN) says unlocking the full potential of the nation’s manufacturing sector is not merely an economic choice, but a “strategic necessity” for sustainable national development.
Director General, MAN, Mr Segun Ajayi-Kadir, said this in his keynote address at the 2025 BusinessDay Manufacturing Conference on Thursday in Lagos.
The News Agency of Nigeria (NAN) reports that the conference’s theme is: “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence”.
Ajayi-Kadir said the global economic landscape was undergoing major shifts, characterised by geopolitical uncertainty, inflationary pressures, disrupted supply chains, among other phenomenon.
He noted that the manufacturing sector was not insulated from the development and that only national economies that prioritised industrialisation and built a virile manufacturing sector could withstand the global shocks.
He said in Nigeria, in spite of the importance of the manufacturing sector remains, its full potential remained untapped and operating below its capacity.
“It is generally accepted that the manufacturing sector is the engine of Nigeria’s industrialisation, yet its current performance is sub-optimal.
“Its performance had remained lacklustre due to numerous familiar binding constraints like unstable exchange rate, inadequate power supply/ high cost of energy, high inflation, insecurity and others.
“It is evident that the business-operating environment is constraining Nigeria’s industrialisation and urgent action is required to address these challenges and unlock the growth potential of the manufacturing sector,” he said.
Ajayi-Kadir commended the efforts of President Bola Tinubu led administration at improving production capacity and reforming the operating environment.
He, however, stated that the efforts needed to be accelerated and effectively coordinated, saying that a virile manufacturing sector guaranteed sustainable development.
The MAN DG said that to unlock manufacturing potential and foster sustainable economic growth, individual stakeholders and the media had a role to play.
Ajayi-Kadir said the media must leverage its influence to promote manufacturing and work with MAN to champion the reforms necessary for the sector’s survival and sustainable growth.
“In particular, the media should amplify MAN’s advocacy, hold government accountable in the implementation of its economic policies and expose structural constraints.
“Additionally, the media should share manufacturers’ stories success stories to attract domestic and foreign investment, advocate for policies that prioritise local sourcing of inputs and facilitate stakeholders dialogue,” he said.
Ajayi-Kadir urged the Federal Government to create an enabling environment to unlock the manufacturing sector’s potential.
This task, he noted, required strategic interventions across infrastructure, fiscal policy, and regional integration issues.
He added that government should create structured platforms for regular consultation with manufacturers, gazette the Nigeria First Policy and institute mechanisms for export market intelligence.