Mr Babajide Sanwo-Olu, Lagos State Governor, has called on manufacturers to adopt new technologies and innovative practices to optimise production processes and enhance the quality of goods produced.
He gave the advice at the 57th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN) held on Wednesday in Lagos, on the theme, “Improving productivity in our manufacturing sector through enhanced infrastructure and competitiveness.”
Sanwo-Olu, represented by Dr. Olugbemi Aina, Permanent Secretary, Lagos State Ministry of Commerce, Cooperatives, Trade & Investment (MCCTI), says that in the era of the Fourth Industrial Revolution, technology and innovation are no longer optional but essential for the success of manufacturers.
“To remain competitive,” the Governor says, “Nigerian manufacturers must embrace new technologies such as automation, artificial intelligence, and data analytics. We must encourage a culture of research and development in our manufacturing sector, which will ensure the development of new products that can compete in global markets. This means not only investing in the latest technologies but also fostering creativity and experimentation. Our manufacturers should be leaders in creating new products that meet the changing demands of consumers, both locally and internationally.”
Governor Sanwo-Olu emphasises the importance of enhancing the educational system to equip graduates with the necessary skills required in today’s manufacturing landscape. By investing in workforce development, Nigeria can ensure a steady supply of skilled professionals who can drive innovation and growth in the manufacturing sector.
Otunba Francis Meshioye, President of MAN, emphasises the importance of fiscal policy, infrastructure development, and competitiveness as crucial elements for manufacturers to overcome the various challenges facing the sector while urging members to remain vigilant for opportunities amidst the obstacles they encounter.
Despite recent setbacks such as high foreign exchange rates, security instability, and elevated custom tariffs, the association’s leadership remains steadfast in its commitment to engaging with the government to address these challenges, the MAN President says.
Vincent Egbe, Guest Lecturer and Managing Director of GB Foods Limited, highlights the critical nature of the current operating environment for manufacturers. He advocated for strategies such as localizing employees and sourcing ingredients domestically, adopting local technology for backward integration to mitigate foreign exchange challenges, and embracing innovation to capitalize on the opportunities presented by currency devaluation.
Egbe also underscored the talent deficit as a significant obstacle to productivity, emphasizing the importance of collaboration among manufacturers to leverage each other’s strengths and navigate the complex operational landscape effectively.
He encourages manufacturers to take calculated risks, exhibit patience in capital investment, and maintain a long-term perspective with a strong belief in the domestic economy. By working together and focusing on innovation and quality, he says that Nigerian manufacturers can not only compete with foreign nations but also thrive in the global market.
Robert Ugbaja, Chairman of the Ikeja Branch of MAN, who expressed gratitude for the support of the Lagos State Government towards businesses underscores the significance of the AGM as a platform to assess and enhance the association’s advocacy efforts. These efforts are aimed at driving key factors that contribute to the growth of the manufacturing sector, such as fiscal policies, infrastructure development, and business competitiveness. This, in turn, will help generate foreign exchange for the country.
Established in May 1971, MAN promotes and safeguards the collective interests of manufacturers. Through strategic partnerships with national and international economic stakeholders, including the government, organised private sector, host communities, and other relevant parties, MAN actively participates in policy formulation and implementation.
MAN’s core objectives include enhancing the competitiveness of the manufacturing sector, fostering job creation, and contributing to the Gross Domestic Product. This is achieved through a steadfast commitment to research and development, adoption of new technologies, and a focus on environmental sustainability. MAN remains steadfast in its mission to drive growth and prosperity within the manufacturing industry.
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