Lecturer Lists Challenges Facing Local Manufacturers

A university teacher, Dr
Biyi Oyetade, last Monday said that absence of discipline and policy enforcement were responsible for the poor performance of the manufacturing sector in Nigeria.
Oyetade, a lecturer in the Department of Accountancy at the Lagos State Polytechnic, made the observation in an interview with newsmen in Lagos.
The Tide reports that the National Bureau of Statistics recently reported that activities in the manufacturing sector dropped in the second quarter of 2013 relative to the same period in 2012.
Oyetade said that lack of discipline in enforcing economic policies was a major problem confronting domestic manufacturing concerns.
“Our nation’s domestic market is not where it should be because of this poor policy enforcement issues.
“This is one of the major factors retarding progress and development of local production,” he said.
Oyetade said that the economic indicators would never be at variance if government executed the policy on local production adequately.
“The discipline of execution of economic policy will drive growth in every sector of the economy.
“This will allow the nation’s economy to be where it should be internationally,” he said.
Oyetade said that the nation was potentially buoyant and ranked as one of the highest on returns on investment globally.
“Our market is a new bride for business considering the population of the country.
“We have about the largest working population in the continent which is an advantage,” oyetade said.