The Manufacturers Association of Nigeria, MAN, said it is working towards considerably increasing the manufacturing sector’s contribution to Nigeria’s Gross Domestic Product (GDP), starting from 2019 and beyond.
President of the Association, Mr Mansur Ahmed, stated this yesterday in Lagos, during the annual MAN media luncheon.
Currently, the manufacturing sector’s contribution to the national Gross Domestic Product stands at 9.5%. MAN’s efforts will considerably increase that, provided they are successful.
In the meantime, the Association is lobbying to influence several other economic, industrial, and trade policies that are important to the Nigerian manufacturing industry, Mr Mansur further disclosed.
“I want to use this medium to reiterate some areas of our activities that we shall be giving greater attention to soon.
“We shall substantially improve the contribution of the manufacturing sector to the Gross Domestic Product from the current paltry 9.5 per cent; appreciably increase the capacity utilisation of member-companies by promoting policy consistency in a manner that the gains already made are not pulled back while ensuring the revival of sectors that are currently struggling.”-Mansur
In the same vein, the Manufacturers Association of Nigeria will ensure a more inclusive economy that will accommodate all of its member companies, Mr Mansur said.
MAN would actualise this by establishing well-structured and mutually beneficial linkages between big companies and smaller ones, as well as by expanding the scope strategic corporate partnerships not just in the country, but in Africa at large.
As we reported earlier today, the MAN President also used the occasion to urge President Muhammadu Buhari to withhold his assent to the AfCFTA agreement, pending the completion of the ongoing assessment to determine its likely impact on the manufacturing sector and the economy at large.
Established in May 1971, the Manufacturers Association of Nigeria functions mainly as a medium of communication and consultation between the manufacturing industry and the Government.