The Nigeria Employers Consultative Association (NECA) has said that the Nigerian sector is facing serious challenges that have resulted to the closure of some companies and exit of some multinational companies from Nigeria.
Speaking on the state of the manufacturing sector in Nigeria, the President of NECA, Mr. Ifeanyi Okoye, said: “There are a lot of issues that are bothering manufacturers in this country. One of the major aspects of the economic problems that most manufacturers have is infrastructures. When you are a manufacturer in Nigeria, you are paying a lot providing your own infrastructure.
“You buy your generator, you provide security for your organisation and yourself who owns the company. You have to battle with the issue of foreign exchange going up and down and instability of policies from the government. There are no motorable roads to even evacuate the products you manufacture.
“These things are major reasons why most of these companies are leaving. And of course, to get them back, to encourage them to stay, the government needs to seriously sort out these things one by one. I mean, nobody wants to stay where he will be losing.
“No investor goes where he will not make his money back. So the only thing is for the government to look into the essential infrastructures provided in the country and make them acceptable for any business to operate.”
According to him, the Nigerian federal government is doing enough and it has not actually risen to the occasion.
“When you are making changes, and the people you are making the changes for do not feel the changes, then, nothing is happening. I want to believe that the people receiving the changes from the government are not yet comfortable.
Speaking on the Presidential intervention fund, Okoye said: “Some manufacturers were having a meeting a few days ago during the Annual General Meeting (AGM) and it was mentioned that no key manufacturer has benefited from that money, and I agree with that. I mean, we are still hoping that something will be done.
“It was also recommended that the people to benefit must be the people that are recognised manufacturers, possibly members of the Manufacturers Association of Nigeria or at least through NECA, because most of the members of the Manufacturers Association of Nigeria are all members of NECA.
“If that is done, it will be very easy to know that at least something has been given out, and who receives it. We do not want a situation in which by tomorrow you bring out names and say, these have been beneficiaries of this fund, when it is clear that no known manufacturer has benefited from it,” the report by Vanguard newspaper on Monday quoted the NECA President as saying.
GIK/APA