The Manufacturers Association of Nigeria (MAN) has called on the federal government to establish a comprehensive industrial policy to guide the nation’s approach to industrialization.
Segun Ajayi-Kadir, Director General of MAN, made this call during a forum commemorating Nigeria’s 64th Independence Day. The forum’s theme, “Nigeria’s Challenging Economy: Strategies for Recovery,” highlighted the need for a clear roadmap to industrial development.
Ajayi-Kadir emphasized the importance of policy coordination among key government ministries, such as the Ministry of Industry, Trade, and Investment, Ministry of Finance, and the Central Bank of Nigeria (CBN). He stressed that a well-defined industrial policy would provide clarity and direction for both the government and industries.
The MAN DG advocated for a more deliberate government approach, with clear expectations, deliverables, and accountability measures in place. He urged the government to avoid playing politics with economic policies and to hold government officials accountable for policies that negatively impact businesses.
Ajayi-Kadir highlighted the need for consistency and predictability in government policies to create a conducive environment for businesses to thrive. He emphasized that businesses cannot operate effectively in an environment where policies are constantly changing or being implemented without proper consideration of their consequences.
The MAN’s call for a clear industrial policy is a timely reminder of the critical role of government in supporting the growth and development of Nigeria’s manufacturing sector. By providing a clear framework and direction, the government can create a more favorable environment for businesses to invest, innovate, and contribute to the nation’s economic prosperity.
