The President of Manufacturers Association of Nigeria (MAN), Engr.Ahmed Mansur, has said that the African Continental Free Trade Area (AfCFTA) Agreement signed by Nigeria would bring economic growth for Nigerian manufacturers.
Engr Manson, who said this at the just concluded 35th Annual General Meeting (AMG) of the Rivers/Bayelsa branch of the association in Port Harcourt, last Wednesday, said that the AfCFTA agreement would provide a larger market for the goods that are manufactured in the country.
MAN actively participated at the steering and technical committee level of the agreement. It was based on the outcome of the all-inclusive nationwide consultation that the president appended his signature to the agreement at the just concluded extraordinary session of the African Union.
“I, therefore encourage all our members to brace up for a beneficial business operation in the unfolding continental market. This will only be possible if we optimise our processes and innovate to compete effectively with our contemporaries in other countries” he said.
He commended the Rivers/Bayelsa branch of MAN for a compelling theme “Redeeming Our Economics Potentials Through Manufacturing,” stating that the growth of Nigerian economy would continue to dwindle if conscious efforts were not made towards providing appropriate incentives and infrastructure that would encourage investors to create jobs.
Mansur reiterated the determination of the association to work towards reactivating the abandoned manufacturing companies, stating the need for the state chairman to compile the list of the dead companies like REVOC and others.
He applauded the chairman and his council for working closely with the state government and engaging all the Ministries, Departments and Agencies (MDAs), adding, “this is an occasion to ask out public sector,individuals and particularly the business community to invest in manufacturing because that is the future of the economy.
The chairman of Rivers/Bayelsa branch of MAN, Senator Adawari Michael Pepple, in his address said the theme was necessited by the fact that industries continue to be the key driver of rapid economic growth and the associated creation of employment directly and indirectly.
Senator pepple said that manufacturers were passing through difficult times, as “Nigeria manufacturing companies continue to be heavily dominated by resource processing sectors that are capital and energy intensive.
The chairman stated the need for government to grant a tax holiday of five to seven years to the new companies to enable them stabilise, adding that this will enable them to create enough employment that will generate more revenue for the state and also improve the economy.
On the reactivation of the dead companies, he said the state MAN has identified and listed 22 dead companies for reactivation, adding that the chapter has also moved in presenting a proposal to the government that would end the power problem which is the most important challenge to manufacturers..
The guest lecturer, Engr Reginald Odiah, who is the Chairman/Managing Director, Bennet Industries Ltd, explained the inherent setback suffered by Nigerian manufacturers and the citizens of the country in the midst of the natural endowment.
The lecturer noted that MAN played a very important role in economic development, and suggested the way forward to include instituting the right, pragmatic and honest leadership and also ensuring that manufacturing sector must take a drivers seat in the area of creating employment in the country.
The highlights of the AGM included the 4th MAN product exhibit and the award of excellence to deserving leaders.