LAGOS – The Manufacturers Association of Nigeria (MAN), has perfected plans to hold its 52nd AGM to address the binding constraints making the nation’s local products uncompetitive, and other prevailing issues affecting the manufacturing companies in the economy.
Otunba Francis Meshioye, President of MAN, who made the disclosure to newsmen in Lagos, said the AGM with theme: “The Imperatives of an Intentional Development of the Nigerian Manufacturing Sector”, scheduled for October 22nd-24th at the Lagos Oriental Hotel, Victoria Island, was couched with a deep reflection on the growth trajectory of the manufacturing sector in Nigeria.
He said: “The high and rising cost environment continues to shrink profitability and, in many cases threaten the existence of many operators in this critical sector of the economy.
“More worrisome is the fact that the sector that should propel job creation, productivity, and economic growth is enmeshed with series of challenges that constantly limit its contribution to the Gross Domestic Product.
“We need to urgently address the binding constraints that make our local products uncompetitive, otherwise, the economy may continue on the downward trend with no certainty on when it will rebound. As critical stakeholders in the Nigerian economy, we shall continue to play our role of presenting the government with policy inputs and options.
“We shall continue to partner with governments with a view to co-creating innovative solution that will free the Nigerian economy from its lackluster performance and place it on the path of productivity, sustainable growth and development”, he said
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The MAN President specifically noted that to speak to the imperatives of an intentional development of the manufacturing sector at the 4th Odutola Annual Lecture is our Distinguished Guest Speaker, President & CEO of the Africa Finance Corporation, Mr. Samaila Zubairu.
He has been a champion of African value creation, job growth, and industrialization, directing billions into transformative infrastructure over the past three decades.
He has been on the helm of affairs at the Africa Finance Corporation (AFC) for the past six years and has achieved remarkable milestones, including doubling AFC’s membership to 42 nations, tripling investments to $13.2 billion, and overseeing the continent’s largest renewable energy acquisition.
Under his leadership, AFC’s total assets have grown from $4.1 billion to $12.3 billion, and total comprehensive income has risen to $327 million, despite challenges such as COVID-19 and the Russia-Ukraine conflict.
Mr. Zubairu’s leadership has earned the AFC numerous accolades, including Local Impact Champion at the 2023 Africa CEO Forum Awards, Equity Deal of the Year for the Infinity Energy Equity Investment and Lekela Power Acquisition at the African Banker Awards, and DFI of the Year for Europe & Africa at the Infrastructure Journal Global Awards.
He was also honored as African CEO of the Year at the Asia One Magazine Awards for his visionary leadership.
“From his antecedents, it is evident that we have the choice of a speaker to follow in the trend of our great minds to share their perspectives as we host the 4th Adeola Odutola Lecture”, he said
Line-up of activities for the 3days events are as follows: Opening Ceremony of the 3day Made-in-Nigeria Exhibition scheduled for 10am prompt on Tuesday 22nd October, 2024. The exhibition will be a convergence of industry players, government officials, marketers, as well as consumers to experience a new exposure to quality products that are made in Nigeria and ultimately attract patronage of locally manufactured goods.
