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By Victor AhiumaYoung
The Nigeria Employers Consultative Association, NECA, has given insight into challenges facing the manufacturing sector leading to the closure of some companies and exit of some multinational companies from Nigeria.
Newly elected President of NECA, Ifeanyi Okoye, in a chat 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.
“I don’t think the federal government is doing enough. They have not actually risen to the occasion. When they do, they come and tell you they have done this, they have done that.
“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 post Why manufacturing sector is in crisis — NECA appeared first on Vanguard News.
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